Mortgages and Lending Issues
Initially residential mortgage lenders may require the ‘Specialist Knotweed Survey’ or a ‘Knotweed Management Plan’ as it is now recognised by lenders that there is a risk of damage being caused to a property by the spread of Japanese knotweed.
If the property you’re buying is affected by knotweed, you should commission a specialist Japanese knotweed survey. Japanese Knotweed Elimination Ltd will undertake a survey and subsequently provide you with a Knotweed Management Plan (KMP). The KMP will include the survey findings, knotweed risk assessment, recommendations and price for treatment or removal of the knotweed.
Mortgage companies will want assurance that the Japanese knotweed will not be allowed to spread and cause structural damage to the property. Therefore, they will want the Japanese knotweed to be treated by a PCA accredited professional company, such as Japanese Knotweed Elimination Ltd.
IN MOST CASES WE CAN PROVIDE THE SOLUTION;
Our five and ten year control programme, along with the option to include an Insurance Backed Guarantee (IBG) is widely accepted by UK lenders and includes a guarantee that can be extended. This guarantee provides assurance that the knotweed will be treated and controlled if it re-grows so that it will not cause any structural damage to your property.