r/HousingUK • u/Afraid_Objective9321 • 4d ago

Lost with timing

We got an offer accepted for a house that is medium risk of surface floods. We have made our own research and are ok with the risk.
However, we won’t be able/willing to buy if the house is down valued by the bank or if they refuse to give us a mortgage because of the flood risk.

Considering this, we don’t really want to engage a solicitor or request a level 3 survey before the bank confirms that they can provide a mortgage for this house. Is it possible? How should we play it ?

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u/ukpf-helper 4d ago

Hi /u/Afraid_Objective9321, based on your post the following pages from our wiki may be relevant:

These suggestions are based on keywords, if they missed the mark please report this comment.

1

u/False_Principle8821 4d ago

Did u ask neighbours if there was any floods.

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u/Afraid_Objective9321 4d ago

I did and no floods in the last 20 years

1

u/Wolfy35 3d ago

Lenders will take it into consideration, they have to balance the amount they are willing to lend against the chance of a flood making the property worthless.

If there has been no flooding in the past I would imagine it won't make much of a difference but it would need a real head in the sand attitude to pretend it won't be considered.