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Conveyancing Problems: Flood Risk

View profile for Paul Hajek
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Conveyancing Problem flood risk Over 5 million people live or work in properties that are classed as a “flood risk” according to the Environment Agency

Flooding can occur not just from rivers and the sea but also from surface water, where it cannot access a river or the drainage system.

The Environment Agency bands areas at risk into low, moderate and significant.

You can view a flood map on the Environment Agency’s website which shows the natural flood plain for England and Wales

There has been considerable flooding in parts of the UK over the last few years, which has lead to a particular problem for some homes: a lack of flood insurance.

Home owners in such high risk areas have been forced to reduce their asking price in order to sell their property.

Britain’s banks had an agreement with the Government that they would provide insurance for homes that were at risk of flood but they are now reneging on that deal and leaving homeowners with no protection, forcing sellers to reduce their sale price considerably in order to get that ever elusive sale.

One initiative trying to do something is the Know Your Flood Risk.

Know Your Flood Risk is a campaign on a mission to raise awareness of the issue of flood and also encourage practical guidance with support to help protect homeowners from the risks of flooding.

James Sherwood-Rogers, Chair of the Know your Flood Risk campaign commented:

“We are more at risk of flood than ever before yet less is being done to protect homeowners. The Statement of Principles between the Association of British Insurers and the Government commits insurers to continue to provide flood insurance under certain scenarios. Once the Statement comes to an end in 2013, however, the future for insuring against flood is uncertain. As matters currently stand, as of 2013, indications are that vulnerable home owners will be unable to sell their property and will be at risk of a potentially huge bill to repair their home.”

The Know Your Flood Risk Campaign, which was launched in 2009 has gained more than 200 members, including legal and property professionals, housing developers, flood protection specialists and homeowners right the way through to national government and local authorities.

If you are concerned about what you can do to protect your property you can visit the Environment Agency’s website for hints and tips relating to flooding.

If you are worried about potential flooding before you buy a house consult with your Conveyancing Solicitor who can carry out a flood risk search for you.