Mortgage News

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

Is it true that banks and mortgage lenders refuse lending on property infested with Japanese knotweed? Yes, if the knotweed is not being treated by a specialist company. However with the right treatment and insurance backed guarantee most banks and buildings societies will lend.

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At a glance. The presence of Japanese knotweed or other invasive species might affect the valuation of a property and might be an issue for customers whose property is affected, but who find it difficult to afford treatment costs. mortgage lenders will normally require evidence of treatment that will eradicate the plant as a condition.

Japanese knotweed survey . tel: 0333 456 7070 mob: 07950 259 905: A homeowner who tried to remortgage his 400,000 property had his application refused because of Japanese knotweed in his garden. Dave Williams, 42, wanted to borrow 83,000 but has been turned down after surveyors found Japanese knotweed in his flower beds.

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Home buyers are being denied a mortgage by banks and building sites because the property they are trying to purchase has been affected by an invasive garden weed. mortgage lenders claim japanese knotweed, which is capable of pushing through concrete, poses a risk to the structure and fabric of the building, and so reduces the value of a property

Japanese Knotweed RICS Professional Information, UK and residential property 1st edition, information paper This information paper is for RICS members and other professionals involved with the property industry. It focuses primarily on the problems that Japanese Knotweed has been causing in the residential property sector, particularly the.

Parliamentary Committee finds home lenders are over cautious about risk of Japanese knotweed. which is leading to the value of homes being reduced due to invasive plant Japanese knotweed, according to a Parliamentary Committee.. 2019 media ventures International Limited t/a PropertyWire.

Parliamentary Committee finds home lenders are over cautious about risk of Japanese knotweed Mortgage lenders are overly cautious and relying on flawed science which is leading to the value of homes being reduced due to invasive plant Japanese knotweed, according to a Parliamentary Committee.

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We have highlighted the top 5 key facts we think all Estate Agents should know about Japanese knotweed. 1. What knotweed looks like throughout the season. japanese knotweed is a seasonal plant. In the summer, the luscious green leaves are surrounded by creamy-white flowers, over the winter the plant dies back leaving dead canes.