Parliamentary Committee finds home lenders are over cautious about risk of Japanese knotweed – PropertyWire

Surveyors who inspect property for mortgage purposes are instructed to report to lenders where knotweed is present. Each lender has a different policy on Japanese knotweed and mortgages. Lenders will often consider a mortgage if knotweed is present depending on its severity, proximity to the property, and other factors.

If you have a knotweed problem and want to know more about knotweed removal, then give wise knotweed Solutions a call on 0808 231 9218 or fill out our online contact form. Links to knotweed resources. Japanese knotweed legislation: Make sure you are in the know about the rules and regulations surrounding Japanese Knotweed

Knot in my back yard – landowner’s liability for Japanese Knotweed Japanese Knotweed (or Fallopia japonica for the botanically inclined) is a plant most people have heard of. The species’ increasing prevalence in the United Kingdom has led to heightened media attention on it and its dangers.

RESIDENTIAL MORTGAGE LENDING AND JAPANESE KNOTWEED . Japanese Knotweed is an. invasive species of plant . which can cause damage to properties if left untreated, particularly with drains and other buried services, paths and driveways, boundary/retaining walls, outbuildings, conservatories and gardens.

Sources at two of the UKs major mortgage lenders (Santander and Barclays) have recently advised that they do not automatically decline property where a valuer has reported the presence of knotweed. These lenders will provide mortgages but in summary will need to see the following undertaken by a PCA IWG member (Japanese Knotweed Ltd):

Where Japanese knotweed is considered to pose a risk to the property, it is usually necessary to undertake to eradicate the plant by implementing a japanese knotweed management plan. In order to meet the requirements of the mortgage lender the plan and its execution need to be undertaken by a member of a recognised trade association such as the Property Care Association.

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One of our major lenders has today issued a new warning and details of lending policy realting to Japanese Knotweed. The policy of all lenders will be similar in relation to this plant and both buyers and homeowners should take care if Japanese Knotweed is seen anywhere near their existing or intended property.

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