National Homebuyers: Flood money needed now

Further funding is needed from the government if British homeowners are to remain protected as standard with their home insurance.

[UKPRwire, Wed Nov 21 2007] That is according to the British Insurance Brokers' Association (Biba), which says that the government needs to spend more on flood defences.

If the government fails to do so it will become particularly difficult for you to find someone to buy your property if it is in a flood risk zone.

In addition, if insurance firms do not provide flood cover as standard, house prices in these regions are likely to fall.

"We are urging the government to spend their money now. They have promised £800m to be spent on this by 2011 but we are saying they need to spend that money now," said Graeme Trudgill technical services manager at Biba.

"We are pretty much the only country in the world which offers flood protection as standard. Most other countries either don't give it at all or you have to buy it back.

"We are leading the way there. However if the government don't co-operate and help the defences, the insurance industry cannot keep paying forever," he continued.

Fast property sale expert Julian King says, "Anyone facing problems with their property can take solace in that National Homebuyers will guarantee to make an offer to purchase any property, regardless of its condition or location".

Quick sale firm National Homebuyers also arrange Sell and Rent Back solutions so that the homeowner can sell their property and remain as a tenant.

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