Law firms to offer transparency on pricing

Law firms to offer transparency on pricing

Solicitors will have to publish the prices they charge for conveyancing and probate services under new rules imposed by the Solicitors Regulation Authority (SRA).

From next month, potential clients will also be given a projected timescale for how long the work is expected to take.

Home buyers and sellers who choose Fridaysmove to instruct a conveyancing solicitor already benefit from transparency on conveyancing fees. We guarantee there will be no hidden extras or unexpected costs when buying or selling your property.

Now the SRA is forcing law firms across England and Wales to do likewise.

From December, each law firm regulated by the SRA – all the law firms we work with at Fridaysmove are SRA regulated – must publish on its website the pricing structure for specific services, such as conveyancing or probate.

Making information available

Where a firm doesn't have a website, they will have to make that information available to prospective clients in an accessible format.

Clients will also receive information on how to make a complaint, be able to read of the qualifications of the staff working on their case and have an idea of exactly how long it will take to process their transaction.

Each firm will also display a digital badge that verifies they are regulated by the SRA.

According to the SRA, only 27 percent of consumers shop around when looking for legal services. At the moment only 18 percent of law firms publish their pricing structure.

Winning business

Paul Philip, chief executive of the SRA, said: "Publishing information on price, services and protections will not only benefit the public but will also help those who deliver these services win business and connect with their customers.

"We are providing guidance and support for firms to assist with meeting the new requirements and making the most of the opportunities they bring."


by Frances Traynor
Friday 16th of November 2018 02:47:56 PM