Conveyancing

With 25% of properties in the UK at risk of flooding it could soon become an issue during the conveyancing process
It is rumoured that homes worth around £210 million may soon be left uninsured when the statement of principles agreed between the government and the insurance industry expires in 30 June 2013
Company statement of principles to enable insurance companies to provide flood insurance to most homes and businesses in the flood risk areas
It appears that officials within the insurance industry claim that after the agreement they will be working with existing customers to exploring short options where flood risk is significant
Some search providers have commented that the end of the principles between the Association of British insurers and the government could make flooding a hugely contentious issue during the conveyancing process when conveyancers have to assess the potential risks a property faces.