bank interest

[ladygizzel]

Can anyone help My solicitor is holding a cheque for £85.000 from the sale of my house Approx how much will he be getting interest from his bank He has held for 7 days

[fourteen85]

I do not know how much but our solicitor passed on the interest to us

[ladygizzel]

Hopefully mine may do the same

[kjn2]

Approximately £8.15
.
£85000.00 x 0.50% x 7 divided by 365

[ladybirder]

Is he holding it to pay towards the purchase of another house? If not why does he still have it?

[ladygizzel]

Says he is waiting for buyers cheque to clear

[factor-fiction]

If it's in a client account it will get some interest but the rate will be under 1% pa. I think kjn's figure will be about right