The following Environment practice note produced in partnership with Groundsure provides comprehensive and up to date legal information covering:
Lenders are increasingly concerned with environmental risk in their day to day secured lending businesses. All major UK banks now have to make, to some greater or lesser degree, a formal consideration of environmental risk within their secured lending credit risk assessment process, although more generally this relates to commercial rather than residential property. This process can form part of the solicitor / conveyancer’s report on title but increasingly lenders are adopting formal internal procedures that may also involve their panel Chartered Surveyors to address environmental risk as part of the valuation process.
The Law Society provides guidance to its members on ground contamination and flood risks including steps to address such risks.
For more information on the Law Society's guidance, see the following Practice Notes:
Law Society practice note on contaminated land
Flooding—Law Society practice note on flood risk
Similarly the RICS (Royal Institution of Chartered Surveyors) provides its members with guidance with regards to advising clients on environmental risk and its impact on value, where instructed to do so by the lender client.
Lenders' risk exposure can be regarded in the following categories:
direct risk exposure—where a lender may have the potential to assume direct legal and financial responsibility for environmental risks associated with a property, eg a lender that takes possession of a waste management site that has
Free trials are only available to individuals based in the UK
Complete all the fields above to proceed to the next step.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
The third edition of the Standard Commercial Property Conditions was published on 27 April 2017 a
PRA Rulebook—introduction for the insurance and reinsurance sectorOn 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise
Contract interpretation—express terms in contractsExpress and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made
Negligence—key elements to establish a negligence claimNegligence—what are the key ingredients to establish a claim in negligence?For liability in negligence to be founded, four key ingredients must be present:•duty of care•breach of that duty•damage (which is caused by the breach)•foreseeability of
0330 161 1234