Cashback Remortgages · Property checks
Flood Risk, Insurance and Your Mortgage
Lenders require buildings insurance, and flood risk can affect both insurance and lending. Checking the position early avoids surprises.
How flood risk affects lending
Because lenders require insurable buildings insurance, a property that is hard or expensive to insure against flooding can complicate a mortgage. Check the flood-risk information for the property before committing.
The Flood Re scheme helps make cover more available for many eligible homes.
What to check
Confirm buildings insurance is available at an acceptable cost, and factor any excess into your budget. Your conveyancer's searches will flag flood risk.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.