We have a mortgage with a high street lender.... We bought the property over ten years ago and have flooded twice... In the next few years, we have been advised that we will flood yearly. If our property is worthless, does the mortgage company have a duty of care to help us financially?

Your help is much appreciated
Originally posted by Justine5346


You have a duty to repay the mortgage, but that's about it where duty is concerned.

sorry to be the bearer of bad news.

What a horrible predicament.

No they have no obligation, your transaction is purely one of business ie we lent you money and we want it back, emotion / hardship won't come into it.

They wouldnt be running much of a business if they wrote off every debt that went sour, even if it was through no fault of the mortagee ie illness, redundancy, fraud, building collapse.

On whose authority is your property going to flood every year ? If is truly is as bad as that then unless you are really rural there must be others in your street with the same issue. Collectively speak to environment agency, councills etc to see what can be done to minimise the risk.

TBH if you have already had 2 floods the appeal of your property is significantly reduced anyway to prospective buyers so my advice would be to protect it as much as possible for your own use.

Good luck

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