Surface water risk on new property

charcole_2

We are hoping to buy a house...

We received the environmental searches back with a surface water risk rating of 'significant' (1 in 75 year risk of flooding to more than 10cm)

There are no risks of plain flooding (zone 2 or 3), the house is about 30 years old and has no history of flooding, but sits at the bottom of a hill in an estate, opposite a school... not sure what to make of this!

The insurance company don't currently factor in surface water risk (they go off historical flooding), but with the end of the agreement between the government and insurers in 2013, this could change...

Wondering if its worth the risk of buying what would otherwise be a great house, or would you pull out?

Any opinions would be much appreciated

Taadaa

I think our house is 1 in 100 for coastal flooding. Not concerned by it - it might never happen. You might not live there then if it does. Didn't seem to bother our insurers.

00ec25

have you seen (can you afford) anywhere better?

do you bet on horse racing? would you back a horse at 100 to 1 against one at 75 to 1 and/or against a 3 to 1 "favourite", it is all relative and it is all a gamble

N9eav

Depnds on how much you like the house?

I guess the risk is if the drain gets blocked on the road. Or it could just be a computer evaluation based on a set of perameters such as bottom of hill, one drain, There was once a storm in the area in 1977 etc... It may never have actually flooded.

charcole_2

It would take more than 10 cm to flood the property, the main concern is insurance and how insurance companies will take this information into consideration after the 2013 agreement ends.

We have been able to get insurance (both buildings and contents) and they (nationwide) don't appear to be bothered about the risk at the moment..... they are bothered about what has happened in the past - no flooding at all as it stands.

There could be the obvious hikes if they start to change their poilicies or worse which would impact on possible future sale-ability....

Just don't know what to do

silvercar

What does your surveyor suggest?

Is thee a possibility of putting in extra drainage and soaks ways to mitigate any potential problems?

charcole_2

We had a homebuyer's report survey conducted 2 weeks ago and they didn't pick up any issues in regards to flooding or possible flooding.

This risk has been picked up from the environmental searches.

rubadubdub_2

Did the OP get any further answers to their question about policy change after 2013?

We're in exactly the same position with a house listed as significant risk (1/75 year) of surface water flooding in the event of a flood.

The last time the village (Wolston near Rugby) flooded was in the 60s and the river was diverted as a consequence but the flood risk seems to remain.

We have had no problem insuring the property with all information disclosed and our flood report lists the claim rate as low for the area. The quoted buildings and contents premium is £400 with no NCB and all the extra bells and whistles on the policy, so they cannot be too concerned about the risk.

Is it likely that in 2013 we will be stuck without insurance and consequentially with a house that will be difficult to sell?

speedything

Me and the wife bought a house recently with the same issue - 1/75 chance of surface flooding.

When we got the report through we spent a long time deciding on this and it ended up with me trawling the internet finding everything I could about this. Although it certainly has the potential to be a problem in the future, there are some factors to consider,

1. Lots of areas are at significant risk - far more than from more traditional flood zones. Much of central London in particular is high risk.
2. The science behind the maps is new and slightly contentious.
3. The maps have been done nationally with individual circumstances not taken into account. For example, an area with lots of grass is far less at risk than those with lots of concrete, but this does not seem to have been considered.
4. The insurance companies deal that will expire next year was to insure the 200,000 properties in significant risk flood zones. Even these they can still charge a high premium at the moment, so find out what your premium would be.
5. The government is still in talks with them and some proposals have been tabled to renew the deal.

We ended up taking this calculated risk. Our property is 50 years old and has never flooded, nor has the area. We have a huge park one end of the street, fields the other end, and lots of grass between.

Our insurance premium is really low and obviously this surface water flood risk was not taken into account in the slightest.

I bet my house on this not being issue, and will bet even more money that even if some will refuse to insure the house in the future (which I doubt) that there will still be others willing to take a risk on a house in an area that has never flooded.

But then I'm a gambling man... :rotfl: