Law
Society Practice Note on Flooding makes reference to Specialist Flood Surveys
for land and property transactions helping to drive opportunities for
Consultants and Engineers providing advice in Commercial Transactions, says David
Mole of Landmark Information Group
- Law Society Practice Note instructs property professionals to ‘mention’ the
issue of flooding and if appropriate make further investigations
- For commercial properties, the Commercial Property Standard Enquiries Form (CPSE
1) requires the seller to provide details of any flooding of which it is
aware and asks whether the seller has had any difficulty in obtaining
insurance at normal rates, excesses and exclusions
- David Mole, Business Development
Director at Landmark
Information Group says the Practice Note is a useful driver for environmental consultants and engineers advising
property professionals with regard to flood risk appraisals for commercial
transactions and new developments
- 5.2 million properties, including 185,000
commercial properties, in England and Wales are at risk of flooding[1]
- Landmark’s Envirocheck Flood Screening
Report and digital flood data, part of the Envirocheck range, contain
flooding information from several sources, including the British
Geological Survey and the Environment Agency, enabling consultants and
engineers to evaluate flood risk
Following
the publication of The Law Society’s Practice Note on Flood Risk, David Mole
Business Development Director at Landmark Information Group said this should
help drive business for consultants & engineers advising property
professionals on flood risk associated with commercial property transactions
and new developments.
The
Practice Note advises that in all residential and conveyancing transactions,
lawyers should mention the issue of flood risk to the client, and when
appropriate, make further enquiries. Lawyers
now need to routinely seek flood risk advice from their professional advisors
and this is an ideal opportunity for consultants & engineers to extend
their services as part of property due diligence.
David
Mole, , said: “The Practice Note has been a long time coming and, it is a step in the right direction, which
should drive lawyers to seek advice from environmental consultants and
engineers who need to obtain comprehensive flood risk information when undertaking
flood risk appraisals for commercial
transactions and new developments.
“The
Practice Note states that solicitors only need ‘mention’ the issue of flood
risk to clients. As we have seen in recent years, however, flooding is becoming
ever more prevalent and widespread throughout the UK and is striking in areas
that have never flooded before. 2012, for example, started with warnings of
drought but ended as the wettest year in England since records began. Despite
this however, the vast majority of Britons may be unaware of the risks they
face.
“Whilst
it is vital that legal professionals provide the most comprehensive information
possible, covering all types of flood risk, including pluvial (ground water)
flooding, environmental consultants and engineers need to also ensure that they
make appropriate enquiries relating to the flood risk on and adjacent to sites.
This needn’t however, be a difficult and arduous task. Landmark has worked
closely with the industry in developing its Envirocheck flood screening report
and digital flood data services.
“Our
Envirocheck Flood
Screening Report and digital flood data, which utilises information from
several sources including the Environment Agency, the British Geological Survey
and flood modelling specialists, provides environmental consultants and engineers
with information on flood risks from surface water, groundwater, rivers and
seas.”
The Envirocheck
Flood Screening Report and digital flood data, enables environmental
consultants and engineers to carry out flood risk assessments and advise their
clients of the impact of flooding to their site. At a time when surface water flooding
(pluvial flooding) is increasing and 1.9 million residential and commercial properties
are at risk from surface water flooding, [2] it
is important to note that the Flood Practice Note is a useful market driver for
environmental consultants and engineers providing flood risk appraisal advice and
signals the increased importance of carrying our flood risk assessments.
David Mole concludes: “The
Statement of Principles, which commits insurers to continue to provide flood
insurance for most homes and small business premises, comes to an end in July
this year. The announcement at the end of June that there will be a new
agreement that will cap flood insurance
premiums, linking them to council tax bands so that people will know the
maximum they will have to pay is good news for homeowners in flood risk
areas. For business it’s critical to be
able to obtain flood insurance at competitive rates to maintain continuity
& sustainability for their operations.
It
is, therefore, absolutely vital that conveyancers are taking all necessary
steps to ensure that clients are fully apprised of any all types of flood risk affecting
a property transaction by seeking advice from their consulting &
engineering professional advisors in all instances.”
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