Homecheck says high flood risk, now what?

[maybebabybee]

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.

[TenTinyTadpoles]

Abandon it, it's not worth the hassle.

[maybebabybee]

Just wanted to update this quickly - mortgage approved with no problems, buildings insurance not an issue as flat is leasehold so it's included.

[jevoudrais]

It's odd because our flood searches that came back say we are low risk but environment agency website seem to say high. I would be inclined to think the paper copy I have from solicitor is most accurate, so possibly be wary about relying on the website too much, it can be difficult to zoom in enough to get the detail.

[Plexie]

Is the flat in a large purpose-built block? If it's a large development I assume the management company will have little trouble getting suitable buildings insurance, so I don't think that would put off potential buyers. If it's a small block and the individual flat owners are managing the block themselves, someone might have to trawl round the insurance companies to get cover, which could be a pain.

Insurance companies can be a bit odd when it comes to flood risk. A friend was trying to get contents cover for her 4th floor flat next to the Thames (building cover was included in her monthly service charge). One company quoted a ridiculously high fee because she was in a high flood risk area. She reiterated she was on the 4th floor and she just wanted contents cover but it made no difference. So she tried another company and got a reasonable quote from them instead.

Personally, unless the flat is next to one of the rivers flowing through the borough, I wouldn't be put off. And actually, if it were one of the new developments by the river in Catford or Lewisham town centre either, that wouldn't put me off either.

[maybebabybee]

No idea thewild, that's what I would have thought but googling it looks like it's all doom and gloom!

Our flat is leasehold so buildings insurance is already included - would we need to get additional insurance on top of this does anyone know?

apologies for my cluelessness.

[TheWildRumpyPumpus]

I don't think there anywhere in London that's unmortgageable due to flooding is there?

You may have to pay a hefty whack on your insurance premium but you'll still get a mortgage offer.

We used to live on the London/Kent suburbs near a row of houses which had a lovely stream running along the end of their gardens, at the bottom of a hill. Come one almighty downpour last year, the neighbourhood run-off emptied into the stream and the whole area flooded for a couple of weeks, along with the electricity substation which was positioned across the road (bye bye power).

[maybebabybee]

Just had a look, seems to be on the central London side

[Moving15]

Have a look on a map, the barriers are at Charlton and clearly marked. Lewisham is on the central side of the barriers.

[maybebabybee]

Elisa I have no idea - how do I tell

[EElisavetaOfBelsornia]

Is it right next to the Thames? If it's on the right side of the Flood Barrier (i.e. the central London side) I would go ahead. If the Barrier goes, lots of London is screwed - but you'll certainly get a mortgage. If it's on the Kent side of the barrier and right next to the River I would re-think.

[maybebabybee]

plexie yes I looked and it shows the flat we want to buy is just outside a pocket of 'high risk' so that might well be it.

Like I say I'm really not bothered about the actual risk of flooding given the property is on the first floor, just the mortgage really.

Naturally my broker is off the radar today :)

[Plexie]

Have you looked at the Environment Agency maps yet?

Look at 'Risk of flooding from surface water':

watermaps.environment-agency.gov.uk/wiyby/wiyby.aspx?topic=ufmfsw&scale=11&ep=map&layerGroups=default&lang=_e&y=172449&x=535964#x=538289&y=175523&scale=11

I discovered them when a colleague was buying a house last year and it's quite surprising when you look at your own area and discover which parts are apparently high risk. There's a road near me which I hadn't thought of being in danger of flooding but according to the map it's at high risk. It's not near a natural watercourse but there's a drain running along it and the surrounding roads are all slightly higher, so I assume their water will drain into the lower road and possibly flood it. Knowing the area well that wouldn't put me off buying a first floor flat in that particular road, although I certainly wouldn't buy a basement flat there, now that I've seen the EA flood maps.

Those maps might be the reason the homecheck search flagged flooding. I think the ground water ones have only been included in searches relatively recently as my colleague looked at the map for the house she was selling and it came up as at risk of flooding, which hadn't come up in the searches when she'd bought the house about 8 years previously.

[wishingchair]

We bought a house that was severely flooded in 2007 and got both a mortgage and buildings insurance. The insurance was much harder to get than the mortgage - many insurers just wouldn't even quote when they heard there had been a flood claim before. Got covered by co-op in the end who were brilliant.

So many homes have been flooded in past 10 years - and they still get bought and sold.

[maybebabybee]

We'll definitely still buy it if we can get the mortgage (insurance not an issue, it comes with buildings insurance), I was more worried that we wouldnt get the mortgage tbh.

Chippy my pregnant brain can't even begin to comprehend that document....feel like summarising?

[Blu]

The environment agency flood map for Lewisham , for surface water, only has small pockets of high risk. Often just a small part of any one road.

Wider parts are low risk, but still a minority of the area.

[Moving15]

Well parts of Lewisham have recently flooded and the council does have management programmes underway. But on the first floor how much is this worst case scenario really going to affect you?? You say it has never flooded there before anyway... So... If I could get insurance and the mortgage and it was the place I really wanted for the right price I would carry on with the purchase. Regarding resale... Well if you buy it then someone else will!

[Nicknamegrief]

First floor flat- I wouldn't worry, ground floor I would!

[ChippyMinton]

councilmeetings.lewisham.gov.uk/documents/s3731/Appendix%202%20Surface%20Water%20Management%20Plan.pdf

Some bedtime reading

[janethegirl2]

Technically where I live is considered high risk, but it has never flooded, and if it did the entire city would be under water. My insurance has never been concerned but if they were, I'd happily exclude floods as an insurance claim.

[maybebabybee]

Moving I won't say exactly where as will out myself but in Lewisham if that's helpful?

[Blu]

You can have a good look yourself by looking on the Environment Agency watermaps. You can look at an area for all types of flooding and it is very detailed - parts of individual street.

Just google flood risk map environment agency.

[Moving15]

Out of curiosity where in London? I bet you will still get a mortgage and insurance.

[MrsLeighHalfpenny]

It's a first floor flat though. What are the chances of that flooding? I haven't seen any floods where the water has reached the first floor.

[maybebabybee]

Apparently most of London is classified as high risk.

Just to clarify, I'm not worried about the property actually flooding as a) its never happened before (b) its on the first floor and (c) we will only be there three or four years at most anyway, I am concerned re our mortgage offer and selling it in the future.

Buildings insurance actually doesn't matter as that is covered by the lease already.