October 2018

  • SRA Transparency Rules
  • New Ground Report from Terrafirma
  • New Premium Plus Con29M Report from FCI/Terrafirma
  • Updates and improvements to Groundsure’s commercial environmental reports
  • Land Registry’s digitisation of LLC data
  • Unknown Restrictive Covenants
  • Insurance Product Information Documents.

 SRA Transparency Rules

The SRA’s Transparency Rules come into effect in December 2018 for services in relation to residential conveyancing. The Rules call for firms to publish prices and other relevant information to enable consumers to make an informed decision. The specific costs that need to be published are service costs, search and other disbursement costs and whether these costs attract VAT.

Searchpoint Connect – Free Website Quote Engine

This information can easily be provided via a quote tool on your website which links to our database of live prices. This would display property specific prices for official local authority, drainage & water and environmental searches, together with recommended searches as highlighted by search alerts such as coal or flood, if required.

The quote engine would provide a full quote for your client including costs for your services, costs for searches & disbursements and VAT and would comply fully with the requirements of the Transparency Rules.

Our quote engine is developed and managed in-house therefore it can tailored to each client individually. There are no costs associated with the development and use of the quote plug-in, the only requirement is that you order your searches through us.

Find out more

Upgraded Reports – Groundsure Screening and Review

Screening

This enhanced report meets Law Society compliance on contaminated land and flood risk, in addition it also covers:

  • Contaminated Land
  • Ground Stability
  • Radon
  • Full Flood Assessment
  • Energy Data
  • Screening for Transportation.

This report has been redesigned with new features, improved layout and design for clearer navigation – streamlining conveyancer workflow.

The data is intelligently filtered, displaying only relevant results meaning fewer pages and jargon free information. The Screening report is now only available for sites up to 50 hectares in size and anything larger will require a Groundsure Review.

The price of this report has increased to £210 inc Vat (previously £198.00) up to 15 hectares.

 

Product Card

Redundant Searches

Following these upgrades a number of reports are no longer available:

  • Groundsure Screening & Floodview
  • Groundsure Screening and Planview
  • Groundsure Review and Planview
  • Gropundsure Review Full pack

Review

This report is an all in one commercial environmental report which provides a Law Society compliant contaminated land and flood risk assessment.

  • Contaminated Land
  • Flood Risk
  • Radon
  • Ground Stability
  • Planning applications
  • Energy
  • Transportation data

The Groundsure Review has an improved layout and is intelligently filtered for clearer navigation, streamlining solicitor workflow. It gives an expert, bespoke opinion essential for all high value property transactions, complex industrial sites and redevelopments,

Each report is written and peer reviewed by an in house team of environmental experts, manually reviewing high detail historical Ordnance Survey mapping in all cases as well as providing an operational environmental risk assessment.

Product Card

 New Report Launched – Terrafirma Ground

Introducing the new Terrafirma Ground Report, a best in class ground risks and liabilities report that includes an expert professional opinion, risk assessment and risk transfer on all potential ground risks.

The Terrafirma Ground Report translates the risk from mining activity, subsidence, sinkholes, radon, fracking, mineral planning activity and much more. It also includes Terrafirma’s official CON29M report, as well as never-seen before data and technology driven solutions to analyse the potential impact of man-made and natural ground perils on property transactions.
Dynamic next steps and an industry-leading professional opinion ensure the purchaser is fully informed and report terms are comprehensively transferred from the solicitor to the experts at Terrafirma.

Key Features

  • The first integrated official Terrafirma CON29M (2018) as licensed by The Law Society
  • All other mining searches (e.g. tin, metalliferous, limestone, chalk, gypsum, clay, Cheshire brine, other brine, Bath Stone
  • Evidence of ground movement analysis, using innovative satellite technologies never-before-seen data
  • All known Natural Ground Perils, including Slope stability, running sands, sinkholes and erosion
  • Mineral planning and future mining or extraction activities and oil and gas including fracking) activities
  • Comprehensive information on the risk of radon exposure
  • Expert professional opinion on natural clay-related subsidence, assessing not only British Geological Survey data but pioneering University-researched soil models
  • All potential physical, financial and legal liabilities associated with past mining activity
  • Terms and conditions that include a £10 million Professional Indemnity Policy (per report)
Product Card

Residential <10 ha

£6000inc VAT
Residential Ground Report up to 10 hectares, with tiered pricing up to 100 hectares

Commercial <25 ha

£10800inc VAT
Commercial Ground Report up to 25 hectares, with tiered pricing up to 100 hectares

 New Report Launched – Premium Plus Con29M

Future Climate Info and Terrafirma have created a unique partnership for the definitive combined Environmental and Coal Mining due diligence report for conveyancers.

The new desktop search, available now from Searchpoint, combines FCI’s Premium Environmental Report (contaminated land, flood, ground stability, energy & infrastructure) with Terrafirma’s Con29M report and delivers the essential data your clients need to understand environmental risk above and below the ground that could affect the transaction.

Key features:

  • Official Terrafirma CON29M
  • Past and current Contaminated land
  • Air quality
  • Flood risk from all sources
  • Energy and infrastructure sites and projects
  • Natural ground stability risk
  • Coal and non-coal mining, including Brine

Benefits of the Premium Plus CON29M:

  • Unique datasets on air quality and subsidence risk
  • Professional opinion and risk assessments with clear report outcomes.
  • Free remediation insurance: Passed residential environmental reports come with protection for 6 years, up to £100,000. Can be relied upon by all parties in the transaction.
  • Free Further Action review, upon evidence of remediation, within 24 working hours.
  • Loss of value cover: £50,000 in the event of a change to Coal Authority data
  • Terrafirma’s expert geo-hazard advice on coal mining areas from a panel of recognised industry professionals.
  • Inclusive Cheshire Brine Indemnity Cover: £50,000 towards a subsidence claim for the lifetime of ownership when the property is within the Cheshire Brine Compensation District
  • Access to affordable next step solutions to keep the transaction moving forward
Product Card

Residential <15 ha

£9600inc VAT
Reported Risks: Con29M+ Environmental +Flood + Ground Stability + Energy & Infrastructure.

Product Focus – Indemnities

Unknown Restrictive Covenants

Case Study

The insured was the purchaser of the land, which included a church hall with parking and associated children’s play areas. This was being demolished and the site redeveloped, with residential dwellings.
Cover was required on a post-planning basis, in accordance with the planning permission obtained, to cover a possible breach of unknown restrictive covenants affecting the site as a result of the redevelopment.
Restrictive covenants are a burden on land. They restrict what a land owner may or may not do with the land.
The possible risks to the insured:
• Action by a third party resulting in a possible injunction preventing or restricting the development and / or an award of damages. In a worst case scenario, demolition.
• Action by a third party resulting in payment for a release of the restrictive covenants.
• Action by a third party resulting in the insured expending monies in order to discharge or modify the restrictive covenants at the Lands Tribunal.

Challenge

As the restrictive covenants are unknown, it was impossible to assess whether or not these restrictive covenants would be breached by the redevelopment.

Solution

First Title was able to underwrite the risk and provide a policy to the insured, ensuring they would be indemnified in the event of a claim by a third party seeking to enforce any unknown restrictive covenants. 

Insurance Product Information Document (IPID)

Under the Insurance Distribution Directive (IDD), consumers will benefit from a simple, standardised Insurance Product Information Document (IPID), which aims to provide clearer information on non-life insurance products, so that consumers can make more informed decisions.

The IPID is supplied with all draft and issued insurance policies provided via Searchpoint. It gives clear and easy to understand information for the consumer on the insurance policy in the following sections:

  • What is insured?
  • What is not insured?
  • Are there any restrictions on cover?
  • Where am I covered?
  • What are my obligations?
  • When and how do I pay?
  • When does the cover start and end?
  • How do I cancel the contract?
Sample IPID

HMLR Digitisation of LLC Data

Following the launch earlier this year of Land Registry’s digital Local Land Charges service, 3 councils have now successfully transferred their LLC data:

  • Warwick – 11th July
  • Liverpool – 3rd September
  • City of London – 8th October

Ordering Process

Migrated councils will no longer supply the LLC component of the local search, this is obtained from HMLR. The CON29 data will remain the responsibility of the local council.

You do not need to worry about this two part process. You will continue to be able to order an Official LA Search as normal and we will split the order behind the scenes.

For convenience we will display a single price and estimated turnaround for the whole search, however you are able to order either the LLC or CON29 separately should you wish.

You will receive the separate components independently, with the LLC expected to be available more or less instantly.

The current list of councils preparing to transfer their LLC data during 20018/2019 is as follows:

Local Authority Transfer Date
Warwick 11th July 2018
Liverpool 3rd September 2018
City of London 8th October 2018
Blackburn & Darwen To be announced
Blackpool To be announced
Carlisle To be announced
Isle of Scilly To be announced
East Lindsey To be announced
Harrow To be announced
Lambeth To be announced
North West Leicestershire To be announced
Norwich To be announced
Peterborough To be announced
Sefton To be announced
St Helens To be announced
Stevenage To be announced
Tameside To be announced
Thanet To be announced
Walsall To be announced

This list is likely to change, and according to HMRC the full transfer is scheduled to take up to 7 years.

Low Cost Search Packs

National Search Packs provide premium searches at a national price enabling you to quote with confidence on all transactions regardless of the local authority and water company.

Comprising personal (regulated) local authority, drainage & water and environmental searches,  the packs cost £119.50 plus VAT.

Order Now

For real time pricing and accurate turnaround times click below.

Order