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Mortgaging Property in Flood Risk Zones

Mortgaging Property in Flood Risk Zones

Climate change means we’re going to see more extreme weather across the UK, including flooding. Consultant mortgage broker, Charlie Potter, explains buy to let lender attitudes towards flood risk properties and what you need to do to protect yourself financially.

In the last few years, the UK has experienced some of the most severe floodings on record. The underfunded flood defences have led to an increase in flooded areas, and therefore consequential property damage.

It’s estimated one in six homes in England are in immediate flood risk areas, equating to 5.2 million properties. In fact, a property is more likely to be flooded than burgled.

How to Check a Properties Flood Risk

Before buying any property, it’s worth checking the flood risk rating. It’s free to check online, and you can see the exact flood zone, defences and any nearby rivers or potential flood areas.

Check flood risks for a property in England

Check flood risks for a property in Wales

Check flood risks for a property in Scotland

Check flood risks for a property in Northern Ireland

Remember, it’s not just properties near rivers or the coast that are at risk. Surface water flooding from heavy rain means an estimated 80,000 properties are at risk in towns and cities.

Mortgaging Property in Flood Risk Zones

We know mortgage lenders want to minimise risk as much as possible, so how do they factor in flood damage?

The majority of buy to let lenders will accept properties in flood risk areas. However, you will find that having appropriate insurances in place to cover flooding is part of the mortgage terms. The correct insurance not only protects you against the high costs that flood damage can cause, but it also protects the lender as it reduces your chance of falling into arrears.

Flood insurance covers:

  • Removing debris
  • Replacing damaged contents (furniture etc.)
  • Drying out the property
  • Associated fees (solicitors, surveyors)
  • Alternative accommodation (depending on your policy)

Depending on the property’s risk level, you may find that standard buildings and contents insurance also covers flood damage, but it’s important to check thoroughly. Some policies may not cover certain high-risk areas, and policies that do may attract a higher premium.

Some lenders do not mortgage properties in high-risk flood zones, so you must do your research before submitting a mortgage application. During the underwriting stage of a mortgage, lenders use the flood risk map and review any previous flooding history for the property. If you do need a buy to let mortgage for a high-risk property, we’ll be able to guide you to suitable lenders, saving you both money and time in the application process!

The main point here is to do your own research before offering on a property, then at least you have all the facts and can assess how much extra any insurance premiums may cost you.

If you are purchasing or remortgaging a property in a high flood risk area, speak to us, and we’ll help you secure property finance from the right lender.

Call me today on 01732 471648 or email me at, and I’ll be happy to help with your buy to let mortgage enquiries.