In calculating compensation due we will apply a rate which reflects the market rate of interest paid on the instant access current accounts offered by our bankers. Money held by the firm is incidental to the legal work undertaken and the firm does not act as a financial advisor investing funds for the best rate. Therefore it is likely that the rates of interest payable by the firm will not be as high as clients might obtain for themselves. Interest rates: Type of transaction Gross % Interest Rate Paid Probate 0.20% Non-Probate 0.05% Clients have the right to seek alternative arrangements to hold their funds privately during the course of a transaction, except where we have requested a payment to us on account of fees and/or expenses. Where a client organises such special arrangements we reserve the right to charge, at usual solicitor charge rates, for any reasonable additional time costs or third party costs that we incur in implementing your request in respect of your funds. Designated deposit accounts Interest / Compensation will be paid on client monies held on separate designated deposit accounts in line with the interest actually credited to those separate accounts. This interest policy will be reviewed on an annual basis to ensure that a fair and reasonable outcome is achieved for both clients and the firm.
In calculating compensation due we will apply a rate which reflects the market rate of interest paid on the instant access current accounts offered by our bankers. Money held by the firm is incidental to the legal work undertaken and the firm does not act as a financial advisor investing funds for the best rate. Therefore it is likely that the rates of interest payable by the firm will not be as high as clients might obtain for themselves. Interest rates: Type of transaction Gross % Interest Rate Paid Probate 0.20% Non-Probate 0.05% Clients have the right to seek alternative arrangements to hold their funds privately during the course of a transaction, except where we have requested a payment to us on account of fees and/or expenses. Where a client organises such special arrangements we reserve the right to charge, at usual solicitor charge rates, for any reasonable additional time costs or third party costs that we incur in implementing your request in respect of your funds. Designated deposit accounts Interest / Compensation will be paid on client monies held on separate designated deposit accounts in line with the interest actually credited to those separate accounts. This interest policy will be reviewed on an annual basis to ensure that a fair and reasonable outcome is achieved for both clients and the firm.
CLIENT-INTEREST-POLICY.docx