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smitha addala

Waterfront leasehold flats, flood risk and consequences!

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Hi all, 


In need of some urgent advice if possible - I'm in the process of buying a leasehold flat in the Whitehall Waterfront block in city centre Leeds (due to exchange in the next few days). However, it's in a flood risk 3 zone AND actually had flooding affecting the underground carpark and a resulting claim against the insurance for this in 2015. There currently is buildings insurance cover in place but pretty steep at £550/year and a £5000 flood excess. The flat I'm buying is on the 3rd floor and highly unlikely to be at risk of flooding itself but obviously other parts of the block and foundations etc could be affected. The council seem to be investing in flood protection measures for the river Aire in Leeds but there don't seem to be any around the block itself currently (accordingly to search maps etc).


Now, I can't get any information re how this will affect future insurance premiums or whether it will be difficult getting future insurance, remortgaging etc. The management company won't speak to me as I'm not an owner and insurance companies say they can't help or advise me as it's a leasehold and they would need to be approached by the landlord. 


Would I be crazy to continue with this purchase?? And what do I need to do to get more information to resolve my concerns? 


Thanks in advance for any tips or insights! 

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