Increase in mortgages held up by Japanese knotweed

PLR Ltd - Property Damage from Japanese Knotweed

Brokers have reported an increase in cases held up by Japanese knotweed since the Royal Institute of Chartered Surveyors issued guidelines on it last year. Their concerns come as a property care specialist urged lenders to shed their nerves about lending on properties with the weed (pictured). 

Lentune Mortgage Consultancy managing director Stuart Gregory contacted twelve lenders in June to find out their views on the issue. He said, ‘There were only two or three that would really consider lending on properties with Japanese knotweed and those that would had strict criteria.’

Since then, growing awareness of the problem seemed to encourage lenders to be more flexible, he added, but other professionals in the housing market chain remained concerned.

So which ones are most likely to help you? Read the full report by Julia Rampen here.

There’s no doubt that the presence of Japanese knotweed is becoming a bigger problem. If you have this ubiquitous, invasive weed on your land or property, contact us for advice…. and don’t just hack away at it and hope it will go! It won’t.

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