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Japanese Knotweed

Journalist: Esther Shaw, Freelance

ended 17. May 2023

Japanese knotweed - is it really something you need to worry about?

  • *Is it still an issue for lenders /  borrowers? 
  • *What are the rules on declaring it when you sell?

    *What are the key things you need to think about?

 

6 responses from the Newspage community

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Japanese Knotweed is the biggest kick in the proverbial for anyone looking to get a mortgage due to the amount of damage it can cause to a property; lenders do take a sensible approach if there is a treatment plan in place and they have already started treatment prior to lending in most cases.
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When considering a property affected by Japanese knotweed, buyers should conduct thorough surveys and obtain specialist reports to understand the extent of the issue. Engaging professional contractors to develop treatment and remediation plans can address the problem effectively. Exploring insurance options that cover treatment and potential damage caused by the plant can also provide added security. Buyers should carefully evaluate the potential impact on the property's value and engage in transparent communication during the buying and selling process. While Japanese knotweed remains a concern, it is crucial to approach it with due diligence and seek accurate information. Working with experts, being transparent, and taking appropriate measures can help mitigate the challenges associated with this invasive plant. Ultimately, informed decision-making and proactive management are key when dealing with Japanese knotweed in property transactions.
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In some areas we cover often, Japanese knotweed is fairly common. It can be an issue with lenders, mainly depending on the severity. Some lenders will still have issues if there's Japanese Knotweed within seven metres of the property, whereas others may consider closer proximity. Lenders may want to see that there's a treatment plan in place, potentially with an insurance-backed guarantee. As with any property-related factors, clients should always think about the resale ability of the property, regardless of whether they can obtain a mortgage for their purchase. Japanese Knotweed may put some buyers off when it comes to selling down the line. It's best to take extra care when researching properties with Japanese Knotweed and be sure to have a private survey carried out.
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Japanese Knotweed is a matter that should concern both owner occupiers and buy to let investors as the consequences of inaction over this invasive plant species can be extremely serious and potentially very expensive to eradicate. Whilst, with a greater understanding of the problem now present, it is no longer perceived as being as serious as it once was, great care is required in dealing with the problem. There are now specialist firms available to deal with the problem and where JK is found or suspected the sooner such a specialist is brought in, the better. Their first step will be to ascertain the threat of root spread, which for JK is rapid, in relation to the property's structure, then endeavour to deal with the source of the problem. Once done, thereafter an annual management programme usually for a period of up to 5 years post-treatment will be put in place, potentially longer if necessary to prevent further invasion.
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You certainly need to worry about Japanese Knotweed, whether you're buying, selling or staying. It is an issue for lenders, though not an insurmountable one, and will invariably involve a clearance or acceptable management cost. A liability and containment programme needs to be put in place.
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Its definitely still an issue, lenders require specialist reports if it gets flagged on the survey and it can decline an otherwise perfect case. However, those surveys that are done via desktop, will miss this. Morally it should be declared, especially if you want to sell your house. Its a legal duty to check for knotweed on your own property though, and if you do not declare it at the time of sale, knowing fully that its there, the buyer has a right to sue.