| |
LATEST
LATEST LEGAL NEWS ARCHIVE
|
|
LATEST NEWS & EVENTS
Contaminated land bill could hit £11.5bn

Contaminated land and planning problems appear to be worse than previously thought, as a report claims the clean-up bill could be in excess of £11.5 billion. New research suggests that three in every hundred properties are affected by contaminated land. Homeowners could be hit with an average bill of £15,000 to clean up the land, according to SearchFlow, which carried out the research. Under the Environmental Protection Act, anyone living on a contaminated site could be required to pay for to fix the problems if the person who caused the damage cannot be identified. David Kempster, director of SearchFlow, described land contamination as "a financial hand grenade" that needs to be picked up conveyancers. "Being hit with £15,000 of additional costs for a new house could be financially catastrophic and for those with plots larger than the UK average of 243 square metres, the expense could become even more unmanageable," he explained. The number of homeowners potentially at risk for land contamination is "growing rapidly", Mr Kempster added. It comes after the Contaminated Land Network of the Chartered Institution of Water and Environmental Management warned that government cuts will lead to long-term damage for contaminated land. Posted by Alex McLean
Related Articles:
30/3/2012 - EPC changes to affect buy-to-let landlords
27/3/2012 - Rent increases drive strong buy-to-let yields
27/3/2012 - Property industry welcomes 'sensible' planning reforms
2/3/2012 - Arla advises landlords to 'invest wisely'
1/3/2012 - Basel III could hit commercial property lending
More Property Law News
|
|