Heading towards the depths of winter prompts me to write on the subject of flooding. Law Society guidance highlights the need for Solicitors to ensure that their clients can obtain flood insurance for a property on acceptable terms before entering into a Contract.
In practice this means that Solicitors undertake an Environmental Search against the property you are buying and also a supplementary Flood Risk Search if necessary where there is a thought to be a risk – often highlighted by the Environmental Search.
Our experience is that depending on the type of flood search carried out, you may get varying results and the problem may not lie in the actual history of flooding at the property; there may not have been any; but if the property is in the wrong postcode or deemed to be at risk this will affect property insurance premiums and the desirability of the property to future purchasers.
Please feel free to discuss with us at any time the obtaining of environmental searches and flood searches so that you have the best information available regarding your property. The cost of obtaining them is very inexpensive compared to the risks involved!