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I am sorry to hear about this. It seems that this would be a civil case where you will be alleging fraud, misrepresentation and claim your loss. You can certainly instruct a solicitor, but firstly you will need to arrange a meeting and ask them to review your files so that they know the case is not frivolous and has merits.
This may save you a lot of money!
Usually you will have to take action within 6 years. Civil case relate to a private dispute between individuals or organisations. Criminal cases involve action that is considered to be harmful to society.
I don't know you case but if the Police states that this does not fall under a criminal hat then it is likely it doesn't.
I hope this was helpful. Please feel free to get back with anything else. I will help to the extent I can.