Residential & Mortgages
With increasing public awareness and an ever-expanding media interest, Japanese knotweed is fast becoming one of the most impenetrable barriers to a mortgage agreement.
With many lenders now holding a flat refusal policy where there has been Japanese knotweed present within a catchment of any adjoining property, it is fair to say that many people are now seeing the value of their home diminish as fast as this invasive plant grows.
At TCM we are working with Surveyors and Lenders alike to try and bring some sense to the uncertainty surrounding Knotweed. Hopefully between us we will soon establish a platform for lenders to work from when mortgaging a residential property.
Until such time, unfortunately anyone with even one small plant either on their property or that of a neighbour will almost certainly run into difficulty with the sale of their house.
So what are you to do?
Firstly do not attempt to deal with this yourself. People with the greenest of fingers can struggle and come unstuck with Japanese knotweed, often causing it to spread even further. Without the warranty of a licensed professional your work may be in vain as the bank could still choose not to lend.
Contact a specialist who can advise you on your situation, taking account of all variables and then construct an eradication program that is acceptable to all the parties involved. A mortgage can then be agreed and the sale moved forward.
If you suspect you have knotweed that will affect your property, even if you don’t plan to sell at the present time, we strongly advise that you get in touch. If not, the plant will continue to grow and with it so too will the cost of eradicating it.
Early identification and treatment proves key in all knotweed cases.
If you are unsure what you have is Japanese knotweed, you can send a picture along with your details to firstname.lastname@example.org and one of our advisors will be happy to identify the plant for you.