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@oat44
Timing. The government backed scheme to protect flood risk homeowners from wildly inflated insurance premiums ended in August this year. Its replacement 'Flood Re' has been deemed potentially illegal by EU law and wasn't not due to start until 2015.
It may well be sorted out in a few years, but there is so much uncertainty now, that I didn't want to be potentially locked to a property and be at the mercy of these insurance companies.
A hasty decision was called for and I and took the more cautious option. I may well regret it, but you never know.