Climate Change Considerations When Buying A House
Law Society Guidance
The Law Society recently became the first professional body in the world to issue advice its members on the impact of climate change. The advice clarifies the obligations of solicitors to not only protect their own business but to advise clients on the risks associated with more extreme weather patterns.
Our Head of Property Mark Laird explains how climate change could impact your property and what information is available to buyers.
What are the risks?
Many people associate climate change with warmer weather. Whilst this is not entirely untrue there are other effects. Melting icecaps are raising the sea level and increasing coastal erosion. More extreme weather patterns are increasing the risk of flooding both in frequency and severity. Prolonged periods of drought and hotter weather can increase ground movement causing subsidence and sinkholes. The warmer the weather becomes the greater the effects will be.
Flooding
More extreme storms resulting from climate change are expected to increase the size of our flood plains. These are the areas at risk of flooding. If a property is at risk of flooding insurance will be more expensive.
Ground Movement
Prolonged hot dry weather can lead to soil shrinkage and downward ground movement. This removes support for houses built on top of the land and can cause cracking and damage to the structure of the building. In more extreme examples sink holes may open in the ground.
Coastal Erosion
Higher sea levels increase the level of coastal erosion and can leave properties are risk of falling into the sea.
Predicting the Future
Whilst it is not possible to predict the future, a number of search providers now offer reports explaining how the risks associated with climate change may increase in five years time and then again in fifty years time. The reports are based on current scientific projections and offer buyers an insight into how the risks to their properties may develop over time.
Ability to Sell and Mortgage
Solicitors have a duty to advise clients on the risks associated with climate change. If a property will be at an increased risk of flooding, ground movement or erosion buyer’s may be deterred from purchasing the property in favour or a property less at risk. The risks may effect a surveyors valuation of a property at risk and could even result in a mortgage lender not accepting the property as security for a mortgage.
Our Commitment
At Morrish Solicitors we are now offering every client the opportunity to obtain information on climate change risks when purchasing a property. We are also committed to including information on climate change risk in all of our property reports by the end the year.
To enquire about our residential property and conveyancing services please call us on 033 3344 9600 or simply email [email protected] with your request.
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