Flood Risk Report
The Food Risk Report isn't based on a physical inspection but on historical data from the Environment Agency and the Natural Resources Wales agency which report providers use. Mortgage Lenders do not normally require you to book a flood risk report - it is not among their stipulated property searches - but you will need to inform your Building Insurers if the property has flooded or is in a high risk flood area. If you fail to inform your building insurer and your home is flooded, you may be at risk from not being insured for losses due to flooding!
Make sure your home is protected - Order your Flood Risk Report for £29 by calling 0333 344 3234
What's in a Flood Risk Report?
• The report then gives an overall flood risk rating for the property. There are four - negligible, low, moderate and high. Depending on which of these ratings is given, there may be further explanation and, in particular, what type of flooding risk is most likely, for example, a risk of groundwater flooding. It directs the reader to the appropriate section which explains this further.
• A graphic representation of these different types of flood risk, relating to the property, is then presented.
• MOST IMPORTANTInsurance Assessment. This gives a Yes or No opinion on whether you should be able to get buildings insurance for the property at standard terms
• It is followed by recommendations which, according to the data, may suggest making further clarification of potential flood risk factors and practical steps to reduce consequences of any flood event. It may, for example, suggest you/your conveyancing solicitor ask the vendor whether they are aware of any previous flooding at the property.
• It also gives advice on whether you should obtain insurance terms before you exchange contracts.
✓ Summary of FindingsThe assessment is broken down further in this section, and lists data about estimated chances of flooding during different time spans (the largest is 1/1000 years!). There are four main flooding causes considered:
• Surface Water
• Ground Water
Other factors examined are existence of floodplains, flood defences and and historic data.