Lender conveyancing guidance should cover climate change: Groundsure

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Tromans says the attitude of lenders to climate change risks is critical. He adds that if the lender requires an assessment of climate change risk in the letter of instruction this is a contractual responsibility for conveyancers.

The lawyer says that solicitors and licenced conveyancers owe a duty to clients to provide warning and advice as to risks that they are, or should be, aware of and which may adversely affect the property being purchased.

The emergence of search tools means there is a clear practical step which conveyancers can take to advise their clients in respect of climate risks, says Tromans.

Property climate change data firm Groundsure chief executive Dan Montagnani says: “It’s time for lenders to update their conveyancing guidance.

“Lenders need to request that their panel conveyancers follow this advice. There is no question in my mind that this impacts their treating customers fairly compliance.”

He adds: “This important intervention marks a watershed moment in ensuring clients are protected through their legal advisors on the potential forward impact of climate change on the property transaction.”