It's never to late for a New Year's Resolution

It's never to late for a New Year's Resolution

Although January may be coming to an end, it’s not too late to make a New Year’s Resolution.  With surface water flooding (caused by heavy rain and thawing snow) set to continue, why not make it your resolution to consider a flood report in every transaction?
Why? Well for a start because the UK is getting wetter
Did you know that 2012 was the wettest year on record since 1910 for England and the third wettest year for Wales? (Source: Met Office)
Although our weather patterns are constantly changing, Met Office research suggests we are getting more rain in total and that it may be falling in more intense bursts. There has also been a change in the nature of the rain, with ‘extreme’ daily rainfall becoming more frequent.
Because the clock is ticking on flood insurance
The Association of British Insurers (ABI) ‘Statement of Principles’ is set to end on 30 June 2013. This will result in a free market for flood insurance and may have an impact on annual insurance policies. Many homebuyers are likely to face increased premiums, limited or no insurance cover, particularly in high risk flood areas. The ABI estimates that this may result in at least 200,000 homes throughout the UK being unable to obtain affordable flood insurance. 
A lack of affordable flood insurance is also likely to have significant implications for future valuations, mortgage applications and saleability. 
Flood cover is a standard condition of all mortgages
It is a standard condition of all mortgages for the property to be covered by standard buildings insurance, including flood cover, for the full term of the contract, in order to protect the borrower and the lender.  If insurance is not available, then it is unlikely that a property will be mortgageable. (Source: The Council of Mortgage Lenders)

Still not convinced?  Then you should register for the following free 1 hour CPD-accredited flood webinar

Flood Risks in Conveyancing – "the next big thing?" (from 11am-12pm on 12 February 2013)

Delivered by Landmark in association with STL, this is a one-hour webinar aimed primarily at those working in the residential property market. The webinar will look at the following topics:
  • The nature of the risks from different types of flooding
  • The impact of flood risks on a conveyancing transaction
  • The role of the Environment Agency and various other authorities
  • Planning concerns
  • Insurance issues – what will follow the expiry of the ABI Statement of Principles in 2013?
  • Practical steps for conveyancers – the use of desktop flood reports to help identify potential risks
  • Due diligence issues
Please register here today.
After you complete the registration form, you will receive login details and step by step instructions for the webinar.  Please note, you will need to call a free phone (0800) number to listen to the webinar. 
If you would like to be kept informed about future CPD seminars and webinars on flood risk and other topical issues, or for information about available flood reports including pricing and volume-related discounts, please call STL on 0800 318611 or email [email protected]

STL Group

STL Group is the largest independent property search company in England and Wales. We have been meeting the needs of legal, conveyancing and other property professionals for nearly 40 years, earning a solid and enviable reputation for high quality, fast and reliable service.

As a totally independent search provider, we believe in:

  • building long term relationships with our clients
  • presenting a friendlier and less corporate face
  • offering flexible services tailored to your specific needs – from order and delivery methods through to bespoke search packs
  • providing real, tested solutions that increase efficiency, reduce expenditure and reduce risk

Our services extend throughout England and Wales, from an inpidual home to a large scale residential or commercial development or portfolio.

As a one-stop-shop, we offer a comprehensive range of services including:

  • Land Registry documents
  • local authority searches – as well as providing official searches, we specialise in providing personal searches which subscribe to the Search Code (the ‘gold standard’ for search quality, which is recognised by Government, the CML, BSA and lenders nationwide) and benefit from a £2 million Information Accuracy Indemnity on top of our £8 million PI
  • drainage & water searches – personal and CON29DW
  • environment, flood and mining reports
  • planning and development risk reports
  • utility reports
  • chancel reports

We also offer:

  • Title and legal indemnity insurance
  • EPCs
  • Home Condition Surveys
  • asbestos reports
  • fire risk assessments
  • air conditioning reports and a range of other surveys
  • company searches
  • an anti-money laundering solution

What our clients say about us:

  • “flexible and comprehensive”
  • “they care about our business”
  • “tailor made service”
  • “solid, reliable, trustworthy”
  • “value for money time after time”
  • “helpful and responsive"

 

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