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UK Floods Raise Specter of ‘Mortgage Prisoners’ for Banks
Insurance Journal· 2026-02-19 11:06
As the prospect of flood damage haunts an ever larger number of UK homes, the country’s banks are under growing pressure to prove they’re not underestimating the risk in their mortgage books.Nationwide Building Society — once seen as an outlier after saying in 2024 it had stopped making loans to some homes at risk of flooding — has emerged as a prescient first-mover amid growing banker anxiety, according to Mark Cunningham, managing director at PriceHubble, a property data company. The risk is that a bank i ...