Millions Have No Idea On Flood Risk
Published / Last Updated on 10/12/2007
Property
Abbey Insurance has warned that over 50 per cent of home buyers do not check whether their new home is situated in a high risk flood area, despite nearly 87 per cent of those polled claiming they would be put off buying properties if they were located on a flood plain.
One in five clients in high flood risk areas say they have had trouble selling their homes, also 5 per cent of home owners have had their areas redesignated as flood plains since moving in. Tony Beckworth, Chief Operating Officer at Abbey Insurance says it is the responsibility of the home buyer to find out if the home they are buying is at risk.
Our view
We can only suggest you research in the local library, local authority, on the Internet, with estate agents and other residents. We also suggest your surveyor should have a fair idea or else why are they doing the job?
Useful links:
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
