The UK Government and Environment Agency have announced a £2.65 billion investment to build or repair over 1,000 flood risk management schemes across various regions, including Derbyshire, Hampshire, Lancashire, Dorset, Yorkshire, and Suffolk. These flagship schemes aim to protect thousands of homes and businesses from the growing dangers of flooding, particularly as extreme weather becomes more frequent. Mortgage advisors emphasize the importance of buyers conducting thorough research on flood risks and understanding lenders' cautious approaches towards properties in flood-prone areas, which could impact mortgage approvals and insurance requirements.
Flooding is a growing concern for UK homeowners, especially as extreme weather becomes more common. Government investment in defences is welcome, but buyers must still do their due diligence.
If you're considering a home in a flood-prone area, check the flood risk via the Environment Agency and speak to your solicitor early.
Lenders may be cautious with high-risk properties - some may limit borrowing or require specialist insurance. Mortgage approvals can take longer, and premiums may be higher.
Government investment of £2.65 billion will fund over 1,000 flood schemes, helping protect thousands of homes and businesses from flooding.
Collection
[
|
...
]