Drought sees Environment Agency issue 158 flood alerts

Drought sees Environment Agency issue 158 flood alerts

In response to the Environment Agency’s decision to issue 158 flood alerts, Richard Hinton, Business Development Director at SearchFlow has commented:
“The growing threat of flooding around England and Wales is a reminder of the growing insurance risk the UK faces. Our research shows £214bn worth of property is at risk from flood in this country, much of which could become uninsurable as early as this summer. The government’s agreement with the ABI (Association of British insurers) which ensures universal flood cover is set to expire in June next year, meaning annual renewals for cover beyond that date may become unobtainable in only a few weeks’ time. 
The problem is that years of underinvestment in flood defences means insurers cannot guarantee the open market can maintain universal flood cover. Those who cannot insure their properties face breaching their mortgage agreements and rapid falls in value of their properties. 
Anyone today who is buying a house should make certain their conveyancer undertakes the necessary flood checks to protect their interests”.   
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SearchFlow is the UK’s largest provider of legal due diligence data for residential and commercial property transactions. Since its formation, it has supported over 5,000,000 instructions and delivered 26,000,000 searches; this equates to around 1 in every 4 property transactions in the UK.

SearchFlow recognises that proactively supporting each client’s journey is vital to delivering the right due diligence insights, searches, data, surveys and insurance for every transaction – whether a single residential property or a complex commercial portfolio. Via its advanced online ordering platform and backed-up by an award-winning customer service team, SearchFlow supports clients in delivering the conveyancing solutions needed to manage due diligence risk and achieve compliance.

By partnering with SearchFlow, property law professionals in the UK can deliver smarter, safer, and faster property transactions to their customers.

Based in Kent, SearchFlow is a Landmark Information Group business, which is part of DMGT plc.

Visit www.searchflow.co.uk for more information or follow via social media for regular updates:

Twitter: https://twitter.com/SearchFlow

LinkedIn: https://www.linkedin.com/company/searchflow/

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