Q. I am looking at a property and it has been noted by the agent that there is Japanese knotweed in the garden. Is it a no go for trying to buy or is there a deal to be had?
A. Japanese Knotweed is a very hardy weed that can cause damage to the structure of the building as well as drains and underground services.
As such it needs to be treated and all waste removed is a ‘controlled substance’ so rather than trying to remove (almost impossible) you need to treat it over a period of (normally) 2 years. This is done by an approved contractor, licensed to remove knotweed.
If you have a contractor ready to do the work and they can supply a ‘treatment plan’ you can supply this is the mortgage company then it is often not a no-go for obtaining the mortgage, it is more widespread than you think and mortgage companies are often sensible as lending, I would speak to a good mortgage broker as to the criteria for any mortgage company you are considering before spending money on searches etc.
If you already own the property, then I would strongly suggest you sort out the problem as it can knock as much as 10% off the value of the property or cause untold damage to the property cracking walls or even coming up through floors!