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MDA SearchFlow to offer detailed flood reports for the commercial property sector

New service will allow commercial lawyers to access vital flood information as part of their due diligence during conveyancing

MDA SearchFlow (www.searchflow.co.uk), the UK's largest property search information provider, has today launched a range of comprehensive flood reports for the commercial property market. Backed by the two leading providers of flood data for this sector – Landmark Information Group and Argyll Environmental Ltd – MDA SearchFlow will now be able to provide commercial lawyers with the most up-to-date and comprehensive flood information available.

Increasingly, information related to flooding is being used by lenders and insurers to assess risk and related premiums. In order to ensure that assets are adequately protected, requirements in this area are becoming more stringent, and loans are being scrutinised more carefully.

MDA SearchFlow will therefore be obtaining this information from a number of sources, including Landmark's Sitecheck Flood, a unique conveyancing-ready report which assesses the potential risk to a commercial site. As well as data from major providers, Sitecheck Flood is the only report to contain exclusive data from Risk Management Solutions (RMS) that highlights the risk of surface water flooding, a phenomenon that was responsible for more than 50% of the damage caused by the summer 2007 floods, according to the final Pitt Review.

SearchFlow has also chosen to work with another market leader in this area, Argyll Environmental, which will be providing MDA SearchFlow customers with both its FloodSolutions Brief (summary report) and FloodSolutions Commercial (full report) products.

"Commercial lawyers need to look beyond traditional environmental reports for flood data, as most of the flooding back in 2007 was caused by sudden deluges that affected drainage, groundwater and road systems – so the risk to property extends beyond the scope of standard environmental reports," says David Kempster, Marketing Director, MDA SearchFlow. "An accurate and comprehensive flood risk assessment for commercial properties is therefore essential to ensure that commercial clients avoid not only the potential cost of flooding, but also the inconvenience and loss of business during the lengthy clean-up process."

Historically, earlier attempts at flood reporting were criticised because of a lack of a clear assessment and the absence of pluvial flood risk data. Argyll’s FloodSolutions report, however, will provide MDA SearchFlow's clients with a comprehensive flood risk assessment that is tailor-made for the commercial market, and which also includes the UK's most accurate pluvial flood risk data.

At the same time, MDA SearchFlow has also become a corporate supporter of the “Know Your Flood Risk” campaign (www.knowyourfloodrisk.org.uk), a new campaign that aims to raise awareness of the subject and the potential risks. As a collective voice, Know Your Flood Risk and its members aim to increase the profile of flooding and ensure the public and commercial environment are not only aware of the risks they face, but also how to mitigate them.

"As the risk of flooding in the UK increases, the need for an accurate flood risk assessment has become an essential part of the due diligence process," Kempster adds. "Events in recent years have shown us that flooding is a serious issue for commercial property. In fact, commercial premises are more likely to be flooded than burned down, which means that flood poses a serious threat to assets, the potential for a significant loss of orders/customers, and possibly even total business shutdown. For all of these reasons, we have decided to partner with the market leaders in this area in order to make sure that commercial lawyers have the full picture with regard to flood risk, and are therefore well-equipped to advise their clients accordingly."

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About MDA SearchFlow

Built on entrepreneurial vision 25 years ago, MDA SearchFlow is the UK’s number one property search information provider. The Company provides a one-stop shop for sending and receiving property searches and Home Information Pack (HIP) content for legal professionals, estate agents, and HIP providers who conduct property and other financial transactions.

In April 2006, Macdonald Dettwiler & Associates (MDA) acquired the interests of SearchFlow and PSA and the merged company, MDA SearchFlow was created. It is run by the existing SearchFlow management team with over 50 years combined experience in the property industry. The web address is http://www.searchflow.co.uk

About Know Your Flood Risk

Designed to raise awareness of the issue of flooding in the UK, the ‘Know Your Flood Risk’ campaign has been launched in association with the National Flood Forum and Landmark Information Group: www.knowyourfloodrisk.co.uk.

By becoming a member of the campaign, organisations join a community whose goal it is to raise awareness of the subject and the potential risks. As a collective voice, Know Your Flood Risk and its members aim to increase the profile of flooding and ensure the public and commercial environment are not only aware of the risks they face, but also how to mitigate them.

With a number of organisations already signed up to the campaign and increasing media coverage, including BBC Breakfast News in June, knowledge of Know Your Flood Risk and visibility of the recognisable logo is gathering momentum.

Press Contact:

Chaz Brooks, CBC
Tel: +44 (0)1483 537 890
Email: chazb@chazb.com

Company Contact:

http://www.searchflow.co.uk
Tel: 0870 787 7625

This press release was distributed by ResponseSource Press Release Wire on behalf of brookscomm in the following categories: Public Sector, Third Sector & Legal, for more information visit https://pressreleasewire.responsesource.com/about.