© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
The British Property Federation (BPF) has criticised the Government for not widening the scope of the Flood Re scheme to include those who live in leasehold flats.
In its response to the consultation it ran last year on Flood Re regulations, DEFRA has indicated that it will include properties in council tax Band H in the scope of the scheme. Although this has been welcomed by the property industry, there is disappointment that the Government has not gone further.
Flood Re is the agreement struck between the Government and the insurance industry that will ensure those who live in homes at risk of flooding will be protected from high insurance premiums. The draft regulations currently stand to exclude a number of groups of the property industry, including the majority of leasehold properties and the private rented sector.
The BPF says some leaseholders exposed to the open market have seen their premiums increase by 500% and their excesses increase from £300 to £25,000 following a flood incident.
Ian Fletcher, director of policy at the British Property Federation, said: “While we are pleased for those homeowners in Band H, there is little cheer in this announcement for leaseholders, landlords and small businesses.
“The Government and insurance industry continues to pick and choose who can participate in Flood Re, seemingly at whim, and this latest announcement will look odd to the millions of owners of flats, that they are not protected against escalating premiums, whilst the most expensive houses in the country are.”