Jonathan Rolande, a property expert and spokesman for the National Association of Property Buyers (NAPB), warns that banks are increasingly refusing mortgage applications based on flood risks. This trend is impacting homeowners on low-lying land who may have never experienced flooding but are now considered high-risk due to changing weather patterns. Rising insurance costs or even the potential inability to obtain insurance for flood-prone properties are also concerns for lenders, who are becoming more cautious.

Rolande explains that with increasingly extreme rainfall, banks are examining flood risk data more closely, leading to mortgage refusals in areas now deemed vulnerable. He advises buyers to check the flood likelihood on government websites and obtain insurance quotes before committing to a purchase, as high premiums may signal future risks.

This issue is expected to worsen, as climate change leads to more frequent flooding events, affecting the availability of mortgage products for certain properties.