In process of buying a flat, mortgage application is in progress and solicitor has done searches. The homecheck search has indicated the property is in an area of high risk for ground surface flooding and our solicitor has said we should commission a more in-depth report which will cost us about £350. I understand the risk may affect our mortgage application and any insurance we'd take out.
Any experiences? Is it worth it or should we abandon the purchase? If the in depth reports reveals that we need to spend another few grand on flood defences then we won't be doing that as we don't have the cash spare. On the other hand we're buying in quite a specific area so perhaps the risk of flooding is going to be high for all properties?
Sorry if these are all stupid questions, am a clueless first time buyer. We do like the flat but not enough to make a daft purchase.
Flat is on the first floor if that's relevant.
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Homecheck says high flood risk, now what?
36 replies
maybebabybee · 10/12/2015 17:02
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