Flooding – the risk?
Flooding is a growing risk for British properties. According to Environment Agency statistics, 5.5 million homes (that’s one in six) are at risk of flooding from all types of flood in England and Wales.
Climate change projections indicate that rising sea levels and increasing severe and frequent rainstorms will increase those risks. It is not always obvious that a property is at risk of flooding as surface water, ground water and overflowing sewers are increasingly common causes.
The Environment Agency aims to reduce the likelihood of flooding through the management of land and river systems; by maintaining flood and coastal defences, and raising the awareness of flooding through the use of the ‘Flood Map’. The Environment Agency offers advice to homeowners on how to prepare their property for flooding, and measures to be taken during a flood. The ‘Live Flood Warning Map’ is updated every 15 minutes, and shows locations where there are flood warnings in place, along with a three day flood forecast.
Aside from physical damage, if a property is at risk of flooding it may be difficult to obtain a mortgage, find suitable insurance cover or to sell a property.
When purchasing a property, your solicitor can assess any potential flooding risk to the property by way of a Flood Risk Report. The results of such a report will enable you to calculate any risk to your new property from flood, and advise you whether any further investigation is required. Although solicitors are not qualified to give advice on flood risk or interpret technical flood reports, proper investigation carried out by your solicitors can ensure you do not commit to a legally binding contract to purchase a property, where the risk of flooding has not been properly assessed and evaluated.
To see if your property is at risk of flooding go to:
http://www.environment-agency.gov.uk/homeandleisure/floods/142151.aspx
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