What are the advantages and disadvantages of living on a flood plain?

Floodplains are often beautiful areas and the land on floodplains is often very fertile. Prices of houses may be lower due to the risk of flooding. However, properties built on floodplains can be harder or more expensive to insure.

Does flooding affect house prices?

Flooding can lower the value of a property, especially if it is at high risk of repeated flooding. This can be due to water damage to the property and the financial and safety risks associated with flooding.

Can you get a mortgage on a flood risk property?

Even with a property at risk of flooding you should be able to take out a mortgage. However, many mortgage lenders will require you to have the suitable insurance to cover this added risk. There are some lenders that may not be willing to offer mortgages for properties that are at particularly high risk of flooding.