mortgage redemption ? solicitors holding monies

[stevefixit]

Hi all i hope someone could please help with this query:

 

i ve recently just had a new mortgage with barclays

my old mortgage ended on the 12th of september,

 

my new one began on the 13th of september.

i used a solicitor for all the Conveyance and found out by looking at my bank statment that i was still paying the old mortgage

this was a month later

 

i rang the solicitor and they said there was a mixup and they would pay it straight away.

They paid it 35 days later

 

i rang the bank for my money back that id paid for the old mortgage,

they said its not their fault but the solicitors.

 

I rang the solicitor they agreed to pay my payment back which was £400 for the old mortgage

i then asked what about the interest on the money they held in their bank for 35 days they said it was there's ????

 

i looked up how much they made having this money in their bank

it was around £200 - £300 depending on what interest account they had ?

i worked it out on 5 %.

 

is this against the law ???

Is it my interest???

please could anyone help with this question

 

kind regards steve.

[lookinforinfo]

Errrmmm.... I think your maths might be a bit out unless your new mortgage is absolutely massive. £4000 at 5% per annum would be around £200, so to get that much interest for 35 days would have involved around £50,000.

 

You are probably only talking about a couple of pounds for 35 days, but I

believe you are right that the interest does not belong to them in this

instance. Had they paid the money at the correct time, as they should have,

they would not have earned that interest. And because of their slipshod

work, you will have incurred extra interest on your new loan and I daresay,

some charges as well-that should be borne by the solicitors.