Solicitors: Advising Your Client on Coastal Erosion Risk
As a solicitor in the property sector, staying informed on climate-related risks is crucial to serving your clients’ best interests. Coastal erosion is one of the three major physical risks facing property assets in the next 30 years, alongside flooding and subsidence.
While the absolute number of properties that could be affected due to accelerated climate change, compared to other risks, is a relatively modest 42,000 by 2050, its impact is a total loss of value as the property is lost over the cliff or foreshore.
Many coastal properties are bought with the heart not the head, often after a holiday to that region, so clients need to be fully apprised of the future risk from coastal erosion, even if that does not seem immediately apparent.
This is where your client care comes in – among your core duties, as defined in the Law Society Guidance on Climate Risks, is the duty to warn and disclose where there may be information on risks that could affect the property. Equally, the client can get a base level understanding of how coastal erosion occurs and what the potential impacts could be on the future enjoyment of their home.
This is where CoastClear comes in. Developed in collaboration with Groundsure and Coastal Partnership East, it provides solicitors and their clients with clear, straightforward information on coastal erosion risk, what homebuyers need to think about and where they can turn for advice. Their conveyancing solicitor is in a key position to signpost risks through accessing ClimateIndex analysis in Groundsure’s main residential reports, Homebuyers and Avista.
For law firms, membership to CoastClear offers specialised training for CPD (Continuing Professional Development) and unique resources that allow conveyancers to meet their duty of care in climate-related advisories. Additionally, joining CoastClear not only enhances your expertise but also positions your firm as a trusted, forward-thinking advisor in this evolving field. As a member, you gain access to in-depth guides, a network of climate professionals, and ongoing support tailored to the property sector’s unique needs.
For solicitors aiming to future-proof their practice and effectively serve clients amid changing environmental conditions, CoastClear is an invaluable ally. Learn more about becoming a member and the comprehensive benefits here.
Date:
Nov 18, 2024
Author:
David Kempster