buy a flat near a flood likely area?

[burgundy049]

WE really like a flat that we're considering making an offer on.
I've checked flood info (that's on yobelo.com) and while the road itself isn't flood-able, 82% of the surrounding area has flooded in recent years.

Has anyone lived in a similar area? Or is it just a no go?

thanks

Hello - if you go to check your long term flood risk on gov.uk you’ll be able to see more detail. There are different maps for surface water and river /coastal flood risk. That’ll give you a much better idea of where the risk is, and how high it is.

I would check your parking / route to work as well.

I live on a road that floods (three time in the last 25 years). We're in a modern-ish house, built above the 1947 flood level (the key indicator where we are), so the house hasn't flooded. I don't regret it at all, and while I probably couldn't change our house insurer, we've never had an issue with renewals.

@Grumpyoldpersonwithcats do you know about Flood Re? If your house is in the high risk area this will allow you to get flood insurance. I can explain more if that's useful.

Yes but Flood Re is so expensive...

@Workinghardeveryday is it? Flood re is based on council taxes bands and so should always be cheaper (for lower bands) than paying for flood insurance for high risk properties at market value. In many cases flood insurance wouldn’t be available otherwise. Why do you say it’s more expensive?

or have I misunderstood and you mean it’s expensive for the rest of us / the levy paying for it?

This was a few years ago but a friend had real trouble getting a mortgage for the value she needed on 3rd floor flat in a flood risk area, they didn't seem to care that if flooding was up that high we'd all have bigger problems!

If it's a flat then is buildings insurance organised by the freeholder? They may not have the incentive to haggle for the best insurance deal because they just pass the cost on to the leaseholders.

Contents insurance, however, will be under your control.