A Bit of Background

The Legal Services Act 2007 (Act) significantly changed the way that legal services can be provided so that certain legal services called “unreserved” legal services can be carried out by anyone, which means you do not have to be a solicitor to carry out those services.

One of the aims of the Act was to allow more flexibility so that new entrants to the legal services market can be more innovative and flexible and offer more value for money and at the same time create incentives for a high quality legal market.

In recent years, particularly following the outbreak of COVID-19, the cost of professional indemnity insurance (PII) that a regulated law firm has to put in place has increased substantially and continues to do so. In some cases PII has increased 3 or 4-fold even when a firm has no PII claims. This has meant that some firms can no longer continue in business. The effect of the hardening of the market for PII is that legal costs have increased significantly and will continue to do so and if firms continue to go out of business, competition will be less so this will also have the effect of driving up costs. 

So what are the benefits of using a regulated law firm?

  • Staff are regulated by the SRA.
  • The firm has insurance to protect you when things go wrong.
  • You may be able to claim through the SRA scheme if money is taken from you wrongly.
  • You can complain to the Legal Ombudsman.
  • If you are concerned about the actions of the firm you can complain to the SRA

How Are We Different?

Hall Taylor Law is carrying out unreserved legal services. It is not therefore required to be regulated by the Solicitors Regulatory Authority (SRA).

We only employ practising solicitors. This means that they are regulated by the SRA so they must follow the regulations governing them as practising solicitors.

As practising solicitors, our employees are able to carry out reserved legal matters and may do so as consultants of 360 Law Services Limited https://www.360lawservices.com/ which is regulated by the SRA.

The benefits of using us:

  • We only employ practising solicitors who are regulated by the SRA.
  • You are dealing with highly qualified, experienced solicitors with unblemished records.
  • We have professional indemnity insurance in place.

  • We do not hold any client money. The only money we will hold will be the money that we ask you to pay on account of costs or any disbursements.

  • You can complain to the Legal Ombudsman if you are unhappy about the service provided by our employees.
  • If you are concerned about the actions of any of our employees you can complain to the SRA about those concerns.
  • We provide high quality legal services at an affordable, competitive price.

It means that you will not have all of the protections you would have if you were dealing with a regulated law firm but because your work is being handled by experienced solicitors you do have many of the protections you would have if you were dealing with a regulated law firm but importantly you pay an affordable price for a high quality service.

There is no doubt that the minimum terms of the PII that regulated firms are required to have provides you with more protection but that protection comes at a cost and looks set to become even more expensive and that will have an impact on the cost of legal services.  As with all insurance, making a claim is a last resort and the best protection is to ensure that you use suitably qualified and experienced solicitors.

Ready to talk to us today?

We can talk through your needs and requirements and the possible solutions available to you