How Do Mortgage Lenders Respond to Japanese Knotweed on a Property?
When purchasing a house it is obvious that the potential buyer would get a surveyor to check the condition of the property and estimate its value. But what if the surveyor discovered the house (which the buyer thought would be his/her perfect home) contains Japanese Knotweed? How would mortgage lenders respond to a property with Japanese Knotweed?
Japanese Knotweed is a plant brought into the UK during the 19th Century for its ornamental beauty. The plant has changed from being an ornamental plant to being an invasive species that can do serious damage to the physical structures of a property and as a consequence of this it almost certainly affects the decision on whether mortgage lenders will lend on the property.
If Japanese Knotweed is found within or close to the boundary of a property it can lower the value of the property and some mortgage lenders will be reluctant to lend on the property – however it is not all doom and gloom – many mortgage lenders will consider lending if there is evidence of a fully funded professional treatment or eradication programme being in place for the property.
One of the most common Japanese Knotweed treatment plans is a Knotweed Management Plan (KMP) drafted in accordance to ‘The Knotweed Code of Practice’, 2013 (version 3). It is usually the property seller’s responsibility to arrange for an appropriate Knotweed Management Plan and the buyer should satisfy themselves that it is fit for purpose. Ideally it should be provided by a member of the PCA. (Property Care Association).
When arranging a Knotweed Management Plan it is important to use a Property Care Association accredited Japanese Knotweed specialist. This ensures that the provider of the Knotweed Management Plan adheres to strict standards of professional expertise set by the association. Each mortgage lender will have their own lending policies and any presence of Japanese Knotweed on a property is going to affect their decisions. There is a possibility that the lender will retain funds from the buyer until the Knotweed has been treated or removed.
Japanese Knotweed Ltd is the UK’s LARGEST PCA accredited Japanese Knotweed Remediation Company. We pride ourselves for our professional experience, quality of service, customer care and competitive quotes.
If you suspect Japanese Knotweed on your property or on a property you are looking to purchase, please speak to us on 01794 330 196 or visit www.japaneseknotweed.co.uk
You May Also Enjoy
Riskiest Places to Purchase Property in England
House prices steady in May despite broader market uncertainty
Halifax House Price Index – May 2026
More mortgage borrowers turning to shorter-term fixes
Fear of a chain-breaks biggest concern in current market
