This concern has gained more prominence over the last few years. Some of the smaller lenders will deny a mortgage outright if Knotweed is present. Larger more established lenders may lend if there is indemnity in place or works have been scheduled to treat the plant. A potential of not treating knotweed on a property can render it ‘worthless’. There have been properties sold with knotweed onsite; however a large discount was given to the buyers to offset the cost of treatment.
Knotweed roots can spread up to 7m and exploit cracks and gaps within the foundations of the property. As the plants roots grow the widening of these cracks could conceivably cause structural damage and a greater problem to solve.
The smallest of shoots can have an adverse effect on the property’s value and need to be treated appropriately. Knotweed has to be treated as a controlled waste and dealt with through the proper channels. As it’s now a legal requirement for landowners to stop the spread of knotweed from their land onto adjacent properties with large fines in place for those that don’t, it’s imperative to deal with the issue before its too late.
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