Island Life Magazine Ltd June/July 2014 | Page 142

TERENCE WILLEY

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Terence Willey & Co
Terence Willey t. 01983 875859 Mark Willey t. 01983 611888 - w. terencewilley.co.uk

Terence Willey
Mark Willey

Flooding takes a toll on properties

E

arlier this year we saw
unprecedented amounts of rain fall
in many parts of the Country, and
in some instances it was recorded as the
heaviest rain fall for over half a century.
Sadly this severe rainfall was exasperated
by very strong gale force winds, which
highlighted in particular that properties
that were not previously considered as
susceptible to flooding were now to be
included in such listings as a result.
The Environmental Agencies can
undertake the very best of precautions to
avoid such extreme conditions occurring
in the future, but the degree of such
intensity can never be fully anticipated.
It has highlighted that not enough has
been done to protect properties which are
clearly within a flood risk plain and new
locations that have been highlighted by
the recent events.
It is not just the storm and extent of rain
that has to be considered, but in some
cases foundations of properties have

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been undermined involving subsidence,
heave and land slip to gardens. In many
cases such events are not specifically
excluded from Property Insurance, but
often excess amounts can be considerable.
Unfortunately, I can only see these excesses
increasing in the future as the extent of
claims rise and in some cases cover may be
withdrawn altogether from a Policy.
In addition to this, properties that have
severely suffered may be blighted for
sale in the future which will give rise to
concern not only for the property owners
but also mortgagees concerned. It is these
issues that should now be put to the
Environmental Agency so that adequate
future protection to properties can be put
into place and thereafter noted for the
benefit of future records.
When purchasing property, either
residential or commercial, it is important
to note that the Environmental Agency
Flood Map and the Land Registry Flood
Risk Indicators should not be solely used

for assessing flood risk of any property.
In addition to your Lawyer raising precontract enquiries concerning flooding
it is advisable to commission a Flood
Search or instruct a Chartered Surveyor to
specifically prepare a report on flood risk
and particularly any predictable impact
on the future value of the property.
Lying water can present its own
problems from an environmental point
of view as in some instances foundations
to properties can be undermined which
may not be immediately evident. An
Environmental Search will become more
important than ever for a respective
buyer of a property in securing as much
information as can be provided with
relevant historical background.
In reality insurers generally will be
looking at future cover for flood risk
and there will remain a state of great
uncertainty in this regard. It may well be
that Government will have to intervene
in this area at some time in the future.