Homebuyers should be cautious of flood risks but conveyancing sector is better positioned than ever to protect them

Today, Greenpeace reveals that up to 9,000 new homes are scheduled for development by local councils on land the Environment Agency says is at either “serious” or “significant” risk of flooding.

Maud Rousseau, group marketing and communications director of SearchFlow, conveyancing search provider, responds:

“It is alarming that such a high number of homes are scheduled for development on land that is at risk of flooding. The consequences of flooding are clearly devastating for homeowners and, for many, this has been compounded by insurance premiums skyrocketing with exceedingly high excesses, or worse, homeowners unable to insure their property against the risk of flood.

“To aid those in high risk flood areas, the affordable flood insurance scheme, Flood Re, which is due to be implemented in April 2016, will impose a fixed premium geared to council tax bands, help limit the excess and cover content and buildings insurance. However, homes that are built after 1st January 2009 are exempt, to help discourage inappropriate property development.

“Despite these worrying figures released by Greenpeace, the conveyancing sector is in the best position ever to ensure homebuyers are properly protected and fully informed of potential risks prior to a purchase. Leading search providers are utilising technological advancements in data analytics to help ensure that conveyancers are carrying out their due diligence with confidence and reducing the chance that anything will be missed.

“Landmark Information Group has recently launched an environmental report that highlights any issues associated with all environmental searches in one slim-lined document. In addition, it has been designed in a format that can be shared with homebuyers, therefore, improving the transparency and quality of information for homebuyers prior to their purchase.

“If homebuyers instruct conveyancing professionals that are fully licensed and utilise searches from leading authoritative search providers they will be able to proceed with their purchase safe in the knowledge that they are armed with the best data analysis to inform them of any potential risk, ensuring they are best protected.”

This article was submitted to be published by SearchFlow as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

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