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Is a flood zone medium/high risk problem for mortgage?

4 replies

ConflictofInterest · 30/01/2024 13:34

I've been looking for a house for over a year, just seen one which is in budget (very low) and ticks most of our boxes except it's got a possible flood risk. There's a small stream at the end of the garden. I've rented in this area for years and know that it's only broke it's banks once and that just caused a large puddle on the road much further down. I don't think it is possible for it to flood the house as it's up hill and steps from the garden. But I've seen on the council flood risk map that most of the garden is classed as flood risk 3b, the highest risk, labeled flood plain, whereas the house itself is a 2, medium risk. Firstly would it be stupid to go for this house? I don't plan to stay there that long so do not want somewhere I won't be able to sell. Also does this sort of thing cause problems with getting a mortgage?

OP posts:
idontlikealdi · 30/01/2024 16:44

Is it low budget because of the risk or is it just in lower budget area? If it's the first there's your answer

WishIMite · 30/01/2024 16:47

My house is similar but never had problems with a mortgage. Like you I don’t think it’s actually a risk because the house is elevated. My house was cheap because it’s an ugly mid century terrace!

The bigger question is why don’t you want to stay there long - can’t you find somewhere you’d rather make as a home for a longer period?

ConflictofInterest · 30/01/2024 19:46

I think it's a standard price for the area, maybe on the lower side but then it's a very tiny old terrace and there haven't been many of them on the market here.

Thanks, that sounds promising then if you didn't have problems getting a mortgage. I might go for it then.

I don't want to stay there that long because I hate the area, but my kids are settled in school Don't intend to live here once they've finished school.

OP posts:
InterGalacticc · 30/01/2024 19:49

Our home is in a medium flood risk area - luckily we have had no issues with mortgages or insurance as they both have the sense to realise that although we are close to the river, the 25m height difference means most of the county would be under water before we flood

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