News from the Residential Property Investor, the bi-monthly magazine for RLA members other artilces from the August / September 2002 issue RPI news archive

Landlords' great flood threat - August / September 2002

In January 2001, the insurance profession agreed not to withdraw insurance cover for dwellings greatly at risk of flooding. The agreement was to give the Government two years to improve flood defences and although it stated in its spending review that £150m would be spent on flood defences the agreement runs out at the end of this year.

Some insurance companies will raise premiums for affected properties while others, such as Esure, will refuse cover on property on flood plains. An uninsurable dwelling becomes an unmortgageble one because lenders insist on insurance. The effect on property values of such dwellings would be catastrophic, assuming they could be sold on at all. Landlords' obligations to tenants were explained in the December 2000/January 2001 issue of Residential Property Investor.

The Environment Agency has maps showing areas at risk of flooding and you can ring them on 0845 933 3111 to find out whether your property is at risk. However, some insurance companies, such as CGU and Esure, have already been compiling their own up-to-date flood risk maps.
 

other artilces from the August / September 2002 issue

• Homes shortage?
• Legislation to blame, not estate agents
• Landlords' great flood threat
• Council tenants set to lose right to buy
• Estate agent confesses
• Minister announces changes to housing benefit
• Up the smoke
• Scots council angry at landlord
• Insulating the property value
• In brief