Friday 4 December 2009

Will the Flood Risk Regulations 2009 affect Conveyancing ?

The well timed The Flood Risk Regulations 2009 (FRR 2009) will come into force next week on the 10 December 2009. The FRR 2009 transpose Directive 2007/60/EC on the assessment and management of flood risks (the Floods Directive) into law in England and Wales.

The Regulations require lead local flood authorities to, amongst other things, prepare preliminary flood assessment reports, identify flood risk areas, prepare flood hazard and risk maps and prepare flood risk management plans in relation to each flood risk area.
It will be interesting to see whether as a result of legislation and greater information conveyancing lawyers being required to carry our further checks. I am anticipating that at some point within the next couple of years the CML Lenders Handbook will be developed to include a requirement for further investigation into flood risk.

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