Equity Release on Flood-Risk Properties

Living in a flood-risk area does not necessarily rule out a lifetime mortgage. Equity release on flood-risk properties can sometimes be considered where the lender and valuer are satisfied with the level of risk, the property’s history, its future saleability and the availability of suitable buildings insurance.

Flooding is not a simple yes-or-no criterion. A property shown within an Environment Agency flood zone may never have flooded, while another property may have experienced previous flooding but benefited from substantial flood-resilience work. Specialist lenders can therefore look beyond the headline postcode risk in appropriate cases.

What will a lifetime mortgage lender check?

Flood history and future risk

The lender or valuer may consider whether the property has flooded previously, the source of any flooding, frequency, local flood defences and any preventative work carried out. River, coastal and surface-water risks can be viewed differently.

Buildings insurance

Being able to obtain appropriate buildings insurance can be particularly important. A lender may want confirmation that cover remains available on acceptable terms and may consider the policy excess for flood damage.

Can specialist property criteria help?

Some specialist lifetime mortgage ranges are designed to consider cases outside conventional property criteria. That means equity release on a flood-risk property may warrant a referral even where another lender has previously said no. Acceptance is never automatic and remains subject to underwriting and valuation.

What’s your question?

If your home is in a flood zone or has a history of flooding, tell us what happened and where the property is. Get in touch with your property location and postcode and let’s check the circumstances against suitable lender criteria.

Call David on 07779 819891 or use our Later Life Mortgage Checker and enquiry form.

Return to our equity release on unusual properties guide.