Flood risk area - will the lender have an issue

dalehitchy

Posting this here as someone might know more.

Currently buying a house and had a search come back that it's in a high risk flooding area.

Completely surprised as I've lived (rented) down the road for 27 years and never had a issue). Although the house is in a high risk flooding the report shows that it's never had a recorded flood since the house was built in 1975.

I've checked to see if i can get home insurance ... Filled in a form on a comparison site.... And stated that it's less than 400m from a river. I have about 20 quotes at around £250 per year so it's not at a premium. There were a number of insurers that wouldn't insure due to the proximity i presume.

I'm happy to continue with the house if possible. I'm fairly certain I wouldn't get an issue as it's never flooded and would have to rise significantly which it never has... And even so it's a risk I'm willing to take. One would think im in a rural area which im not.

My solicitor seems to think it will be an issue with the lender but my mortgage broker does not. Has anyone come across this before and how will the lender react?

Richey_

I would suggest your solicitor is correct not the person trying to sell you the product.

Not only will the lender most likely have an issue, so will you when you try to sell it!