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Buying property – You could end up in deep water

The Met Office has confirmed that February has been the wettest on record with the worst winter floods in recent times.  The Environment Agency has speculated that the UK is set to experience significant change in the future with 5.2 million homes and businesses at risk of flooding with this number expected to rise! 

So what does this mean for home buyers? 

At Baines Bagguley Penhale, our experienced conveyancers will ensure that you are given the best advice.  We can’t stop the floods (if only!) but we can ensure that investigations are made into the flood risk a property may have and provide you with advice so that you can make an informed choice as to whether to go ahead with your purchase or not.  

Your home is likely to be the highest value purchase you will ever make. A home isn’t just bricks and mortar, it is also an investment.  It is therefore essential that you receive the best advice before parting with your hard-earned money.  

If a property is prone to flood, your investment could be at risk and there could be issues on sale.  There are of course practical concerns to consider if you suffer from flood, so, for instance, loss and cost of replacing possessions, costs of repairing structural damage and funding alternative accommodation, not to mention potential health implications and general upset and stress.  


However, you should also consider the following:-

Potential increased cost of, or difficulty in, obtaining insurance cover against flood risk. Many insurers have access to sophisticated data on the risk to properties.  For properties at particular risk, the insurer may set a higher cost (premium or excess) or simply refuse cover.  

Increased risk that mortgage finance secured on the property will be more difficult to obtain, or more expensive, because flood risk is higher and/or insurance against it is not readily available. This may affect your property value and how easy it will be to sell in the future if buyers struggle to obtain mortgage finance against it. 

Look out for our follow-up article when we will explain the different types of flooding which may affect a property and how these risks can be investigated.  

Don’t let your financial and emotional investment in property get washed away.  Our experienced property team at BBP Solicitors have many years of experience in all property matters.  Both of our Property Solicitors, Ikram Dola and Victoria Tyson, are knowledgeable on all areas related to property and can provide guidance and advice to enable you to move forward with your purchase armed with knowledge of risk and with confidence.  

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