Flood Risk in Telford, Shrewsbury and ShropshireCategories: News, Property
When purchasing a property in Telford, Shrewsbury or Shropshire you may want to consider whether that property is within a flood risk area, particularly those that may be in close proximity to the River Severn.
Our expert conveyancing team carry out an Environmental Search as part of their standard searches against a property in Telford, Shrewsbury or Shropshire. This will reveal whether the property falls within 250 metres of a flood risk area from rivers and sea, surface water flooding and groundwater flooding or an area where historic flooding may have occurred.
If the environmental search reveals a flood risk from rivers and sea or a particularly high risk of surface water flooding or groundwater flooding our expert conveyancing team can obtain a further Flood Risk report which will provide some further details about the flood risk.
If you decide to purchase a property in Telford, Shrewsbury, or Shropshire with a flood risk you need to consider how this may affect your buildings insurance. When purchasing a property you are required to have buildings insurance in place from the point of exchange of contracts and where there is a flood risk to the property you are required to inform the insurer.
In some circumstances, where the flood risk is high, the insurer may provide buildings insurance but there will be higher insurance premiums to pay due to the flood risk. You must also be sure to check the policy to ensure it protects you appropriately, particularly where you may be purchasing a property with a lender so it is important that you provide a copy of your buildings insurance to our expert conveyancing when looking to exchange contracts so we can check it against any lender’s particular requirements.
Furthermore, where purchasing a leasehold property in Telford, Shrewsbury, or Shropshire with a flood risk, our expert conveyancing team will obtain a copy of the buildings insurance from the Landlord to ensure that their policy covers the flood risk appropriately too.
Overall, if you are looking to purchase a property in Telford, Shrewsbury, or Shropshire and are aware that they may be within a flood risk area, you should carefully consider this before proceeding with the purchase of the property and have a look around for buildings insurance quotes in readiness, to give you an idea of how much the buildings insurance may be on the property.
If you have any queries regarding this please contact our expert conveyancing team.