Japanese knotweed was introduced into the UK in the 19th Century as an attractive ornamental plant but it is now considered one of the most aggressive, destructive and resilient non-native, invasive species. So much so, mortgage lenders may reconsider financing a loan if Japanese knotweed is identified and not just within the boundaries of the property but also within the local area.
Japanese knotweed’s notoriously rapid growth allows the plant to colonise and completely dominate riparian ecosystems, destroying habitats of native herbaceous species. However, should knotweed become established in a built up area around hard surfaces it becomes very difficult to treat. It exploits small cracks and spaces to great effect and can compromise tarmac roads, brick walls and even houses, however no residential property in the UK has ever collapsed due to Japanese knotweed.
Although difficult to eradicate, Japanese Knotweed is possible to use a programme of herbicide treatment to eliminate this menace. However, some mortgage lenders have a zero tolerance attitude to Japanese knotweed and could refuse a loan or deem a property worthless if the species has been identified within the local area. This could be due to the raised awareness of Japanese knotweed but with this has come unsubstantiated hysteria and scaremongering.
Positive steps have been taken by a working body of mortgage lenders, surveyors & knotweed treatment companies by producing a comprehensive paper for the Royal Institute of Chartered Surveyors (RICS). The paper should dispel any myths and scare tactics that have grown and established themselves quicker than Japanese knotweed ever could, perhaps causing more damage. The paper helps determine the risk level of the infestation of Japanese knotweed and the best method of treatment.
For advice on Japanese knotweed or any other invasive weeds (Giant hogweed, Himalayan balsam etc.) or to request a site survey call Invasive Weeds Agency on 0845 676 9252 or contact us here for a free quote.
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