What you need to know about Japanese Knotweed.
Introduced to this country in the 19th century, Japanese Knotweed became incredibly popular as an ornamental plant. Its rapidly spreading bamboo like stems can grow over seven feet tall during the summer but unfortunately, by the time that people had started to become concerned about its invasive nature it was already well established across the country.
Over the years, Japanese Knotweed has caused many a headache for homeowners and particularly those wanting to sell their property. Since 2013, sellers have been required to state within their conveyancing paperwork if Japanese Knotweed is present at their property. If the plant has been detected within seven metres of a property, it is commonplace for mortgage lenders to refuse to advance any funds unless assurances have been made that the plant will be eradicated by a professional company with a transferable guarantee in place.
However, a recent report from the Parliament’s Science and Technology Committee has concluded that we have taken an ‘overly cautious’ approach to the plant here in the UK and that it is no more of a threat than other ‘disruptive plants and trees’ which do not cause the same concerns in relation to property sales.
The committee believes that whilst it may be right for sellers to include information on the plant in the Property Information Form, it should not be given the same significance as it currently has in the mortgage lending process. It has stated that a ‘more measured and evidence based approach’ is required and it has recommended that DEFRA commissions a study into the approaches taken by other countries in relation to Japanese knotweed and property transactions.
If you think you have Japanese Knotweed growing near your property, don’t panic, Eden Estates can help. Over the many years of being an Estate Agent in the Wyre Forest we have built up contacts in all areas relating to the buying and selling of property. Get in contact with us today and we can arrange a FREE SURVEY for you with an experienced and trusted contractor.