Over many decades, Japanese knotweed has gained a nasty reputation as being one of nature’s most invasive plants and a leading cause of extensive property damage. It also has caused havoc for the housing industry because, unlike most flora and fauna, Japanese Knotwood cannot die. Mortgage lenders typically refuse a mortgage to people buying a property with Japanese Knotweed problems around their premises. That makes it extremely hard to buy or sell a home with this problem. As well as that, most building insurance providers will not cover any damage caused by this invasive pest.
You are not permitted to inform your insurer that you have knotweed unless they ask, but that does not means you will be covered for other damage even if the knotweed didn’t cause it. You should expect higher premiums if you do tell the insurer.
Is Japanese Knotweed Illegal?
It is not illegal to harbour Japanese knotweed on your property. Some gardeners cultivate it deliberately. The problem with Japanese knotweed is that it certainly will not make you popular with the neighbours when it gets out of control.
When Japanese knotweed starts to invade the next-door garden by growing under the boundaries, you end up liable for any removal costs or damage that is caused to your neighbour’s home. That is a cost on top of the removal and repair of your property that you do not want to have forced upon you by the law.
Can You Mortgage on a Home With Knotweed?
The majority of mortgage lenders will be wary of lending money to purchase homes growing Japanese knotweed if they even consider it. If a current owner has documented proof that the invasive problem is being treated, then that should go some way to appeasing a mortgage lender’s concerns.
Treating knotweed is quite costly, but relative to the other high costs of purchasing a home, it is not prohibitive in expense. Treated with glyphosate herbicide alone, an area of 50m2 can cost up to £3k in treatment. The treatment is carried out over several years and, providing proof of treatment is in effect, a mortgage lender will be willing to lend.
More rigorous treatment may be required, fully digging out and disposing of necessary in extreme infestations. A professional service is best in treating this growing pest. Don’y delay as it grows fast, and do not simply cut it back as the rhizomes grow underground.
Contact the team at S4JK today to take care of your concerns and tackle the Japanese Knotweed problems on your property.