Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Dan Montagnani - Moving With the Times 2011
1.
2. Contents1. Where have we come from?2. What are our expectations?3. What should we be striving for?4. Environmental risk & lenders’ perspectives5. Case study – Lender Liability6. ConclusionsGroundSure Ltd Evolving Environmental Searches 9/3/2011 2 GroundSure: Environmental Searches
3. 9/3/2011 3 GroundSure: Environmental Searches 1. Where have we come from? 2001 Law Society Warning Card on Contaminated Land Part 2 A of the Environmental Protection Act 1990 – statutory obligation placed on Local Authorities….and….statutory definition of contaminated land Basic residential and commercial searches providing little more than:
4. 9/3/2011 4 GroundSure: Environmental Searches 2. What are our expectations? In a challenging market the last thing we need is environmental searches that cause unnecessary concern De-risking the property purchase process Lenders becoming more sensitive to environmental risk
5. 9/3/2011 5 GroundSure: Environmental Searches 3. What should we be striving for? SMART searches Enviro + Flood Enviro + Flood + Coal Mining
6. 9/3/2011 6 GroundSure: Environmental Searches 3. What should we be striving for? Enhanced client service Attributes of the service Attributes of the search
7. 9/3/2011 7 GroundSure: Environmental Searches 4. Environmental Risk – Bank Perspective Can the search provider support with a lender’s perception of risk? Basic assessment of enviro. risk in bank context Environmental searches / enquiries Risk Consider commercial management of risk No Issues Risk Proceed with standard credit risk process Consider technical management of risk No lending
10. 9/3/2011 10 GroundSure: Environmental Searches 5. Case Study – Lender Liability GroundSure search identifies risk GroundSure consultants provide advice Lender funds purchase AND Client negotiates purchase price
11. 9/3/2011 11 GroundSure: Environmental Searches 6. Conclusions Environmental searches are not just about the search report... ...it is about the pre and post report service that should be focused on providing the highest value client outcome in the transaction
12. 9/3/2011 12 GroundSure: Environmental Searches Environmental Searches GroundSure..... .....Providing client support on environmental risks before during and after the search report Thank you and Questions
Editor's Notes
Environmental searches can cause as many problems as they solve if they are ambiguous, poorly worded and unfocusedThe “grey box process flow diagram” outlines how GroundSure engages with lenders on environmental risk to secure the highest value client outcomes.What is understood about the materiality of the environmental risk?How does that sit in context with the commercial perspective of the bank?Loan to value ratio & headroom in the lending?Value of the property – are we considering planning / development?Is there supporting security?Term of the loan?
