Buying a flat in high risk flood zone - should I be worried?!

Frukoz

Hi,

So I've finally had an offer accepted on a flat which is in zone 3 London and about 200m from a small river.

From the Environmental Agency website, it appears to be on a zone 3 flood risk but it's very hard to tell because it's so close to a no risk area as well.
I'm so deflated about this. I really thought I had found my home after years of trying. Of course I should have checked these things beforehand but it just didn't pop into my head.

I'd like your advice MSE on what I should do. At this stage I have only discovered this by checking the Environment Agency's website. I couldn't find any history of flooding. Another thing worth noting is that the property is on an ex-local authority flat which despite being ground floor, is elevated significantly off the ground. I would say the floor of the flat is about 2 metres off the ground. The design of the property now makes a lot more sense!

I guess I'm mainly worried about the resale value being affected significantly. I'm not actually worried about flooding despite being the one living there. It's a 1 bed and I can always get insurance.
Is the freeholder (the council) responsible for the building's flood insurance?

Just wondering what you think I should do about it and if there's anything I can do right now to find out more information... maybe ring the council who is the freeholder?

Also the mortgage lender didn't see to care one bit as my mortgage has been approved at the best rates.

I suppose I will have to wait for the solicitors to do their searches and for the Surveyor to check the property but anything else?

Thanks so much.

Pixie5740

Have you tried getting some insurance quotes? That might give you an indication as to how much of an issue flooding might be.

Ms_Chocaholic

Have you asked the vendor whether they have been flooded? If not, can you knock on some neighbouring doors.

marksoton

I wouldn't panic. I'm in a first floor flat and the search came back as risk of flooding. No chance!

This may help...

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/456969/LIT8979_FloodRiskMaps_Thames_SurfaceWater_v2.pdf

teddysmum

marksoton wrote: »

I wouldn't panic. I'm in a first floor flat and the search came back as risk of flooding. No chance!

Flood water may not reach your flat, but it could cause damage to the building's foundations, thus making it unsafe.

HappyMJ

Frukoz wrote: »

Hi,

So I've finally had an offer accepted on a flat which is in zone 3 London and about 200m from a small river.

From the Environmental Agency website, it appears to be on a zone 3 flood risk but it's very hard to tell because it's so close to a no risk area as well.
I'm so deflated about this. I really thought I had found my home after years of trying. Of course I should have checked these things beforehand but it just didn't pop into my head.

I'd like your advice MSE on what I should do. At this stage I have only discovered this by checking the Environment Agency's website. I couldn't find any history of flooding. Another thing worth noting is that the property is on an ex-local authority flat which despite being ground floor, is elevated significantly off the ground. I would say the floor of the flat is about 2 metres off the ground. The design of the property now makes a lot more sense!

I guess I'm mainly worried about the resale value being affected significantly. I'm not actually worried about flooding despite being the one living there. It's a 1 bed and I can always get insurance.
Is the freeholder (the council) responsible for the building's flood insurance?

Just wondering what you think I should do about it and if there's anything I can do right now to find out more information... maybe ring the council who is the freeholder?

Also the mortgage lender didn't see to care one bit as my mortgage has been approved at the best rates.

I suppose I will have to wait for the solicitors to do their searches and for the Surveyor to check the property but anything else?

Thanks so much.

The freeholder is responsible for organizing buildings insurance that will cover flood risk. It's not your problem.

marksoton

teddysmum wrote: »

Flood water may not reach your flat, but it could cause damage to the building's foundations, thus making it unsafe.

Not in this case, unless it's armageddon.

The point i'm making is these public flood risk registers are always over cautious.

DaftyDuck

It may become your problem if the freeholder is unable to obtain insurance, or if that insurance cost goes sky-high.

Mind you, my fields are flooded again, and I swore I'd never, ever buy a flood-risk property. Doh!

As a point of interest, the flood risk register vastly under-exaggerates our flood risk here.... suggests its a once in thirty year occurrence, but this is the third in 3 months. I blame the polar bears!

Berger_3

I've recently gone through a similar thing with the property I'm buying.


It was highlighted as being in a flood risk area as there is a small stream that runs along the front of the houses about 1 metre below road level.


Historically it has never flooded, I knew the stream was there when I viewed it and it didn't bother me or occur to me there was a flood risk.


If it has historically never flooded, then the flood risk probably comes form the river simply just being there, which is the case for the property I'm buying. It may never flood, but of course its very presence means you cannot ever rule it out.


Did you know the river was there before you knew the flood risk, and if you did, did it bother you?

Frukoz

DaftyDuck wrote: »

It may become your problem if the freeholder is unable to obtain insurance, or if that insurance cost goes sky-high.

Mind you, my fields are flooded again, and I swore I'd never, ever buy a flood-risk property. Doh!

As a point of interest, the flood risk register vastly under-exaggerates our flood risk here.... suggests its a once in thirty year occurrence, but this is the third in 3 months. I blame the polar bears!

With the freeholder being the council, and about 50% of the flats being local authority, I'm guessing that insurance shouldn't be an issue then?

marksoton

Frukoz wrote: »

With the freeholder being the council,

To be honest this would bother me far more than any flood risk.