Ever heard of Japanese Knotweed? Defined as an ‘invasive vegetation’ species it is now knocking thousands off house prices in the UK. The plant can grow up to 10 centimeters a day, with bamboo type stems and stealthy roots.
How can my mortgage be refused?
Homeowners are starting to face refusals to mortgage applications if the land around the house contains Japanese Knotweed. Many lenders now have a blanket rule over houses and neighbourhoods to say that they will either refuse or withhold some of the available loan unless treatment is agreed and provided.
With the Home Office issuing guidance on the Anti-Social Behaviour, Crime and Policing Act of 2015, prices of houses are plummeting in Knotweed infested areas. Home owners can even get an ASBO from having this plant on their property, just read our last blog post here to find out the details.
What can I do?
All homeowners looking to sell must declare when there is Japanese Knotweed on their property, which often will lower the price of the house dramatically – even if it’s just a 3cm plant. You could face up to 20,000 to get the plant removed if you don’t go to the right specialist, and trying to remove it yourself could result in incorrect disposal and re-growth.
Buyers who are looking to get their hands on the house of their dreams should look for banks who will agree to a part loan with treatment of the knotweed. However this could rack up a bill for the buyer when they move in, so they should aim to agree with the current homeowner to remove the Knotweed before they make the move.
Sussex Knotweed can help you out.
Although no house in the UK has yet fallen down due to Japanese Knotweed, the risks that it poses can mean you’ll have to spend hard-earned cash to unnecessarily repair your walls, floorboards and surrounding area. BUT removal is tricky, and you could face a fine or even imprisonment for improper disposal. If the roots aren’t disposed of in the right way they can re-grow or spread to other areas and create even larger problems. If the Japanese Knotweed spreads into your neighbour’s garden for example, they could possibly file a court injunction for you to get it removed, which would cost you on top of removing your own.
This is why Knotweed should be left to the professionals to properly remove. At Sussex Knotweed our specialists will chemically treat the plants in a number of different ways, depending on the stage of the Knotweed. We will also remove the Japanese Knotweed from your site and dispose of it for you in the right way. This will have no effect on surrounding wildlife and is carried out under “the Knotweed Code of Practice” 2006.
Arrange your free site survey today, either email email@example.com or call 01273 499029.