When we instruct a solicitor, financial adviser, surveyor or another regulated professional, we do so because we need and trust their expertise. We expect them to provide advice and services that meet the standard reasonably expected of someone in their profession, helping us make important decisions with confidence.
However, when that standard falls short, the consequences can be major. Professional negligence can lead to substantial financial loss, missed opportunities, long disputes and the need to pay another professional to rectify mistakes. In many cases, it can also cause considerable stress and uncertainty at what may already be a difficult time.
This article explains what professional negligence is, when you may be able to claim compensation, and the types of losses that may be recoverable.
What is professional negligence?
Professional negligence occurs where a professional fails to perform their responsibilities to the required standard and this results in a loss. This can have a significant financial and emotional impact.
However, not every mistake or disappointing outcome amounts to professional negligence. Professionals are not expected to be perfect, but they are expected to show reasonable care and skill when carrying out their work. If their actions fall below the standard expected of a reasonably competent professional in their field, and this directly causes you to suffer a loss, you may have grounds to bring a claim.
These claims are commonly brought against solicitors, financial advisers, surveyors, architects, accountants and other regulated professionals who owe a duty of care to their clients.
Common examples of professional negligence
Examples of situations that may amount to professional negligence may include:
- Missing a relevant limitation period
- Failing to follow instructions
- Missing court deadlines
- Failing to properly advice on a legal, financial or technical issue
Depending on the circumstances, these mistakes can have serious consequences. A missed deadline could mean losing the opportunity to pursue a legal claim altogether, while incorrect professional advice could leave someone facing unexpected costs, financial penalties or the expense of putting matters right.
Sometimes, clients may not even realise that professional negligence has occurred until months or years later, when another professional identifies the mistake or problems arise.
How can professional negligence affect you?
The impact of professional negligence often extends beyond the immediate financial loss. Depending on the circumstances, it may result in:
- Paying additional professional fees to correct errors
- Losing the opportunity to pursue a claim or complete a transaction
- Unexpected repair or remedial costs
- Business disruption or lost profits
- Delays to important legal or financial matters
- Significant stress and uncertainty while resolving problems that should never have happened
Although compensation cannot undo the inconvenience or frustration caused, it may help recover the financial losses resulting from negligent professional advice.
When should you bring a claim?
Professional negligence claims are subject to strict time limits, known as limitation periods. While many claims must be brought within six years, the point at which time starts to run will depend on the circumstances of the case and whether the claim is pursued in contract or negligence.
In some situations, where the negligence is not discovered until later, the courts may allow additional time. As limitation rules can be complex and missing a deadline can prevent a claim from proceeding altogether, it is important to seek legal advice as soon as concerns arise. Acting promptly can also help preserve important evidence and allow your solicitor to assess your claim while the relevant documents and information are still readily available.
When can you claim compensation?
If you feel like you have suffered a direct and foreseeable loss as a result of a professional’s advice, you may be able to bring a claim to recover those losses.
The aim of compensation is not to punish the professional, but to put the person who suffered the loss, as far as possible, back in the financial position they would have been in were it not for the negligence.
Claims can be made for direct financial loss and consequential loss.
Direct financial loss may include:
- Money you have paid out to fix a mistake by a professional adviser
- Wasted legal costs incurred because of the mistake
- Money paid out in reliance on a professional’s advice
Consequential loss may include
- A loss of opportunity
- Future repair or resolution costs
- Lost profits due to negligent advice
It may also be possible to recover interest on the sum lost from the date of loss and legal costs.
What should you do if you think you’ve received negligent professional advice?
If you are concerned that a professional has made a mistake, it is sensible to act quickly. You should keep any correspondence, contracts, reports, invoices or other documents relating to the advice you received, together with evidence of any financial losses you have suffered.
Seeking early legal advice can help you understand whether you may have a claim, what evidence will be required and whether the relevant limitation period is likely to affect your case.
How Bridge McFarland can help
If you have received professional advice that has caused you financial loss, you may be entitled to bring a professional negligence claim. It is important that you seek legal advice as soon as you become aware of the negligence to help avoid any issues with limitation and to protect your position.
At Bridge McFarland, our experienced professional negligence solicitors can provide a comprehensive assessment of your claim, explain your options in clear, practical terms and, where appropriate, help you pursue the compensation you deserve. Contact our team today to discuss your circumstances and find out how we can help.
Call us on 0800 987 8800 or email enquiries@bmcf.co.uk.
