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One in seven mortgages in England is on a home in a flood-risk postcode, the City regulator warns

Residential streets submerged by floodwater, as the Financial Conduct Authority warns millions of homeowners' biggest assets are at risk from rising flood danger.
Residential streets submerged by floodwater, as the Financial Conduct Authority warns millions of homeowners' biggest assets are at risk from rising flood danger.

Essex has the highest share of mortgage postcodes in the high-risk surface-water category, at 6.5%, the Financial Conduct Authority found. Inner London West is worst overall, with 24% of mortgage postcodes in some flood-risk band. Lincolnshire and East Yorkshire top river and sea exposure at 8.5% and 7.7%. Broadstone's Richard Pinch warned households could be 'trapped' in homes they cannot insure or finance.

The FCA mapped mortgage postcodes against Environment Agency data, putting exposure at 15.5%.

The regulator found no consistent link between loan-to-value ratios and flood risk.

Pinch warned of 'soaring insurance premiums and falling property values' for affected homeowners.

MoreLBCRegulator examines how flood risk relates to the mortgage market in EnglandMortgage StrategyOne in 7 mortgages are on homes in flood-risk areas: FCA - Mortgage StrategyThe IntermediaryOne in seven mortgage contracts linked to flood risk areas – FCA - The IntermediaryFinancial Reporter1 in 7 mortgages linked to flood risk in England: FCA
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