Flood risk report when buying a house
You should get a flood risk report when buying a house because:
- Your mortgage or home insurance may not be approved otherwise
- You risk living in a house that may have previously flooded and may again in future
- Flood risk can negatively affect the value of your house
Order a FCI Flood Appraisal today, brought to you by Ashfield working in conjunction with Future Climate Info.
Why conduct a flood risk report when buying a house?
You’ve found your perfect home, but have you checked to see if it’s at risk of flooding? Buying a house is one of the most important and expensive decisions you will make so it’s vital to carry out the correct due diligence.
Flooding is a growing risk affecting UK properties with surface water run-off from heavy rainfall posing one of the biggest problems. The Environment Agency estimates that 5.2 million homes and businesses in England are at risk of flooding. Aside from the physical damage, if a property is at risk of flooding it can lead to problems with securing a mortgage, house insurance and its future value and saleability.
This all sounds obvious, but many people are often caught unaware until rising waters occur, especially if they are new to an area. For this reason, it’s important to talk to a flood risk expert who can help make the process smoother and less stressful for both you during the conveyancing process.
Ashfield Solutions Group work in partnership with Future Climate Info to provide an enhanced view of where known flood risk exists through the FCI Flood Appraisal. Using property specific data from local sources, we can identify what types of flooding have potentially occurred in the area and how this can impact the insurability and implications of mortgage applications.
We also offer an in-depth analysis using the FCI Flood Appraisal. This is an affordable service that uses flood mapping and detailed analysis to provide an enhanced view where flood risk could potentially occur. It is recommended this is undertaken when a ‘Further Action’ has been identified in the initial Environmental Search report. This results in the ability to potentially downgrade the Further Action status, with the inclusion of legitimate solutions to manage any residual risk that may exist.
Being fully informed on all aspects of your potential new home will help you make an informed decision. Contact us to find out more.