Japanese Knotweed is fast-growing perennial plant that can thrive at an alarming rate, often as much as 10cm in a single day. It is no respecter of boundaries or properties, and needs to be addressed at the earliest opportunity.
In an excellent article on the This Is Money website, Ed Magnus reflects on the perils of Japanese Knotweed and how it can be one of the most unwelcome ways that a house sale can be jeopardised.
In the interview, Ed spoke to Mark Montaldo, of CEL Solicitors, a firm specialising in Japanese knotweed encroachment and also to David Hollingworth, associate director of L&C mortgages, to get their advice on what to do if you are planning to sell your house but have concerns about the presence of this relentless species.
In the article he covers:
- The legal obligations for those involved in selling an affected property
- Whether buyers will be able to get a mortgage
- The affect on the offers that the vendors might hope to receive
It should come as no surprise that a core action is to contact an accredited Japanese Knotweed Specialist for expert advice, as banks frequently refuse to offer mortgages for properties affected by an infestation that can only be treated by specialist contractors.
Japanese Knotweed can grow through foundations exploiting existing defects, which ultimately leads to a reduction in their value – no ifs or buts. Its aggressive nature means it creates its own monoculture, pushing out native species by reducing localised biodiversity.
As a result, lenders will typically refuse to engage with a property that has an infestation of Japanese Knotweed – unless an effective management programme is in place, and one that includes an Insurance Backed Guarantee.
It is imperative Japanese Knotweed is identified and dealt with professionally before problems escalate. The cost to remediate dealing with Japanese Knotweed is vastly preferable to that of the legal issues arising from ignoring it – or the stress of losing a house sale or purchase.
If you are worried you have Japanese Knotweed present on your property or land get in touch and arrange a survey today. We can undertake it and have the required Management Plans completed and in place – all within 48 hours.
