December 18th saw the Law Society issue new guidance on how Flood and Contaminated Land issues should be dealt with in property transactions.
FCI’s reports are fully Law Society compliant…always one step ahead.
Flood Risk
The latest Law Society guidance highlights the need for conveyancers to ensure that their clients can obtain flood insurance for the property on acceptable terms before entering into a contract. It also identifies the importance of liaising with home buyers as to which flood searches may be appropriate. Updates to the guidance includes:
1. The importance of always understanding the full flood risk of a property.
2. Change to reflect the inclusion of Flood Re, which will be operational in July 2015.
3. Specific guidance of flood risk maps.
Click here to view full Practice Note.
Contaminated Land
The latest Law Society guidance highlights the importance of conveyancers understanding the level of contamination on a site, and how enquiries should be dealt with, including suitable measures to protect the home buyer, whether it’s further investigation or insurance. Updates also include:
1. Change to reflect inclusion of the Contaminated Land Statutory Guidance 2012.
2. Further detail on risks, and how this can affect for buyers, owners, tenants and lenders etc.
3. A comprehensive analysis on the risk that the Local Authority replies may be incomplete when responding on Contaminated Land.
Click here to view full Practice Note.
To order your FCI Environmental Report and for more information on how to protect your clients from Flood Risk, Contaminated Land and other Environmental issues from as little as £39, contact your search provider or visit CLS at www.clsl.co.uk today.
