Landmark launches market-leading land contamination remediation cover on residential property transactions
Landmark Information, the property, land and environmental data specialist, has announced it has increased its remediation contribution across its entire suite of residential environmental due-diligence reports.
This means that homebuyers benefit from increased peace of mind and certainty that, in the unlikely event of a large remediation claim at their address once they have purchased the property, there is a method of recourse available.
As from today, the upgraded Contaminated Land excess free remediation contributions have increased as follows:
- Landmark Homecheck Professional: increases from £60,000 to £100,000;
- Landmark Envirosearch Residential: increases from £100,000 to £150,000;
- RiskView Residential: increases from £100,000 to £250,000.
With the Government’s commitment to deliver 300,000 new homes per year, brownfield redevelopment continues to bring a huge opportunity in making this possible. The Campaign to Protect Rural England (CPRE) estimates that more than one million new homes are viable on brownfield land across England and Wales, with two-thirds of these considered to be deliverable within five years.
Yet while there are many positive associations around brownfield redevelopment, there are inherent risks that need careful and well considered management to ensure homeowners are not exposed to significant land remediation costs, should historical contaminants be present.
Chris Loaring, Managing Director, Landmark Legal & Argyll Environmental, said:
“Land remediation can run into tens of thousands of pounds to rectify, therefore undertaking due diligence with Landmark’s comprehensive reports means solicitors can help protect their clients from risks associated with contaminated land, as part of the property transaction due-diligence process. Landmark will therefore support homeowners where serious land contamination may be an issue in the future, providing long-term peace of mind and market-leading aftercare.”
Landmark Information provides a comprehensive suite of environmental and planning due diligence search reports to property solicitors and conveyancers, for both residential and commercial property transactions.
For more information regarding Landmark Information visit www.landmark.co.uk/landmark-legal, telephone 0844 844 9966 or follow the team on Twitter.
Kindly shared by Landmark Information
