The invasive plant that could strangle your house sale
As if buying or selling a home is not challenging enough, a new spectre is raising its head to confound the process.
The presence of the invasive plant Japanese knotweed is putting many sales and purchases in jeopardy as methods of removing it are burdensome and many mortgage lenders will either refuse to lend or impose stringent conditions regarding its treatment.
Buying or selling a property affected by Japanese knotweed may mean a financial commitment lasting some years.
The plant was introduced into the UK as an ornamental shrub and has rapidly become a pest; the 1981 Wildlife and Countryside Act made it an offence to plant it in the wild. It grows to a depth of three metres underground, its rhizomes spread laterally up to seven metres and it grows up to seven metres above ground. Knotweed can cause structural damage to buildings, growing through asphalt, tarmac and into drains.
Japanese knotweed has hollow, bamboo-like stems covered in purple speckles and heart-shaped leaves positioned at alternate intervals on the stem. Creamy white clusters of flowers appear in August and September.
Lenders are wary that a property affected by knotweed may not be good security for a mortgage because of the risk of damage to the property and problems at resale.
The presence of the plant should be highlighted in a valuation report; some lenders may decline the mortgage because of this or even because it is spotted in neighbouring property – mortgages have been refused on homes where knotweed is discovered several gardens away.
Further problems arise when knotweed affects several properties and not all landowners will cooperate in an eradication scheme.
However, as the problem becomes more common, some lenders are asking for proof that the landowner has treated the problem before a mortgage is confirmed. Others may retain part of the mortgage pending proof of eradication. Lenders may consider cases where a specialist firm has been consulted and the work is backed by an insurance backed guarantee, typically of up to 10 years.
There are three approaches to removal: spraying with chemicals using approved pesticides which usually takes three years; digging out and incinerating/burying; or removal to a landfill site with a suitable permit. The burial option requires the plant to be buried to a depth of five metres and covered with a membrane to prevent regrowth.
There are fines of up to £5,000 or up to a two-year prison sentence for allowing contaminated soil or plant material from knotweed waste to spread into the wild.
If you have issues with Japanese knotweed on your land, contact the team at Fisher German for advice on 01244 409660.
Gill Broad, Fisher German
