News0 min ago
Solicitor rules
1 Answers
If a solicitor holds money what interest rate should it be earning?
Answers
Best Answer
No best answer has yet been selected by weighty matt. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.If a solicitor is holding money for a client for whatever reason, they have to give what is described as a "fair and reasonable" rate of interest, depending on what the average rate is within the local area. I work for a firm of solicitors in Reading/South East area. We give interest on a scale depending on how much we hold. The maximum is 3.10% for any sums held over �100K. I hope this has been some help.