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One in seven mortgages in England is tied to flood-risk postcodes, the City regulator finds, with London worst hit

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.

Homeowners could end up stuck in houses that nobody will insure or lend against, Broadstone senior director Richard Pinch has warned. The Financial Conduct Authority puts the share of exposed mortgages at 15.5%, after mapping postcodes against Environment Agency data. Inner London West tops surface-water exposure at 24%. East Yorkshire and Northern Lincolnshire face the gravest river and sea threat, with 38% of the region exposed.

Essex has the highest share of mortgage postcodes rated high risk, at 6.5%.

Pinch warned flood-hit owners face 'soaring insurance premiums and falling property values'.

The FCA found no consistent link between higher loan-to-value lending and flood exposure.

MoreThe IndependentRegulator examines how flood risk relates to the mortgage market in EnglandMortgage Professional AmericaFlood risk affects 15.5% of England’s mortgage market, FCA data shows - Mortgage Professional AmericaMortgage SolutionsSophisticated modelling needed as one in seven mortgages linked to flood risk - Mortgage Solutions
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