The fact the newly introduced Property Information Questionnaire, now a compulsory part of the Home Information Pack includes a question on whether the property being marketed has suffered form flooding is indicative of a growing concern about this area.
Up until now this has not been a major focus of concern for conveyancing lawyers ( although Fridaysmove has always asked the question of the sellers conveyancing solicitors ). With an estimated one in four properties at risk of flooding and with global warming this may be a new buzz area of concern for conveyancing lawyers, buyers and lenders alike.
James Sherwood-Rogers, Managing Director for Landmark Legal and Financial said: "Pluvial flooding, or flooding caused by rainfall, isn’t considered by many to be a risk, but it is in fact one of the biggest sources of household flooding in the UK.
"After three years of heavy rainfall in the UK, it is clear to see that this is now not a freak occurrence and we should expect to see more to come in the future. Homeowners need to find out if they are at risk so that they can take the appropriate steps to protect their assets. "
Landmark has just launched the Know Your Flood Risk campaign. Designed to raise awareness about the issue of flood, the campaign encourages home owners and potential purchasers to find out if their property is at risk. Fridaysmove would recommend that any client wishing to carry out such a search should let us know and we will carry it out on your behalf.
Even though there is no specific lender requirements for your conveyancing lawyer to carry out flood searches at the moment please bear in mind that the future of conveyancing may dictate ( or rather Lenders may dictate – via the CML Lenders’ Handbook ) that such a conveyancing search is required in the future. Furthermore, please note that many insurers will do their own searches and you may find that if their records show that the property is at risk of flooding you may not be able to obtain building insurance.
Who knows, the conveyancing ready flood search may one day form part of the Home Information Pack