Natwest and Japanese Knotweed

csgohan4

SeanG79 said:

aoleks said:

I'd rather buy a house with subsidence or other structural issues than have Japanese Knotweed hundreds of yards from my property, let alone nearby. this plant is the worse thing that can happen to a house, honestly!

You make similar claims on a number of posts, but provide no evidence to support these claims? what physical impact would a Specialist treated knotweed hundreds of yards from a property have on the property when compared with subsidence or structural issues? 

Please provide evidence of Japanese Knotweed causing damage to structurally sound buildings in the UK? And more importantly please provide any evidence in the UK of the damage caused to buildings being worse than other wooded trees? 

care to explain why lenders will not lend unless it is professionally eradicated, if it was just a harmless weed. 

aoleks

indeed. even a structurally sound building will have micro cracks and by that time, it's too late. bur forget about concrete, it will crawl under the house and literally grow through your foundation, in your living room, if you just do the wrong thing by mistake. imagine having kids, all they have to do is take a 5mm piece of the plant and throw it close to the house...

bmthmark

aoleks said:

indeed. even a structurally sound building will have micro cracks and by that time, it's too late. bur forget about concrete, it will crawl under the house and literally grow through your foundation, in your living room, if you just do the wrong thing by mistake. imagine having kids, all they have to do is take a 5mm piece of the plant and throw it close to the house...

If you get specialist treatment, does that not kill the plant?

I've heard horror stories regarding the plant and how easy it spreads. Sounds nasty.

If I knew a potential house I was buying had this I would not want the hassle of it all.

[Deleted User]

aoleks said:

indeed. even a structurally sound building will have micro cracks and by that time, it's too late. bur forget about concrete, it will crawl under the house and literally grow through your foundation, in your living room, if you just do the wrong thing by mistake. imagine having kids, all they have to do is take a 5mm piece of the plant and throw it close to the house...

Sounds a lot like Equisetum arvense too !

charlotteo1988

On a more positive note RICS are publishing a new edition to their Japanese knotweed guidance to help buyers/sellers and lenders complete a sale. 

The 7m rule is looking to be scrapped and go to 3m and if less than 3m from a boundary then that is when a lender needs to be told otherwise they do not have to be told. 

Seems like they have done research over the last few years and don’t think it’s as evasive as initially thought. 

Update on the property we want to buy. Seller got a survey and Japanese Knotweed is present but has no impact on the dwelling and a herbicide management plan is in place until it’s lifetime. 

Waiting for a copy of the report to send to the valuer and hoping that we can still get the mortgage. 

SeanG79

csgohan4 said:

SeanG79 said:

aoleks said:

I'd rather buy a house with subsidence or other structural issues than have Japanese Knotweed hundreds of yards from my property, let alone nearby. this plant is the worse thing that can happen to a house, honestly!

You make similar claims on a number of posts, but provide no evidence to support these claims? what physical impact would a Specialist treated knotweed hundreds of yards from a property have on the property when compared with subsidence or structural issues? 

Please provide evidence of Japanese Knotweed causing damage to structurally sound buildings in the UK? And more importantly please provide any evidence in the UK of the damage caused to buildings being worse than other wooded trees? 

care to explain why lenders will not lend unless it is professionally eradicated, if it was just a harmless weed. 

Lenders base their opinions almost solely on RICS guidelines - if RICS change their guidelines then so will Lenders opinions change (which is apparently due to happen in the near future) and more recently Lenders have already become more accepting of Knotweed provided there is an insurance backed treatment plan in place. 

I am not saying the plant is harmless or doesn't need to be treated but stating that it is the worst thing that can happen to a house is rather hysteric. 

All recent research shows that the weed isn't as disastrous as originally thought. If I consider how prevalent the weed is in Greater London, it is expected more than 1 in 10 properties is currently effected by knotweed within it's boundaries (1 in 20 UK wide), how many properties do we see dilapidated because of the presence of knotweed? Untreated Knotweed, left to flourish would be different. However, studies have shown that even in houses in a state of complete disrepair and with the presence of knotweed, the knotweed wasn't the main contributor to the disrepair.

Finally not saying don't walk away or take it seriously but do some research before freaking out at the mere mention of it.
  

csgohan4

SeanG79 said:

csgohan4 said:

SeanG79 said:

aoleks said:

I'd rather buy a house with subsidence or other structural issues than have Japanese Knotweed hundreds of yards from my property, let alone nearby. this plant is the worse thing that can happen to a house, honestly!

You make similar claims on a number of posts, but provide no evidence to support these claims? what physical impact would a Specialist treated knotweed hundreds of yards from a property have on the property when compared with subsidence or structural issues? 

Please provide evidence of Japanese Knotweed causing damage to structurally sound buildings in the UK? And more importantly please provide any evidence in the UK of the damage caused to buildings being worse than other wooded trees? 

care to explain why lenders will not lend unless it is professionally eradicated, if it was just a harmless weed. 

Lenders base their opinions almost solely on RICS guidelines - if RICS change their guidelines then so will Lenders opinions change (which is apparently due to happen in the near future) and more recently Lenders have already become more accepting of Knotweed provided there is an insurance backed treatment plan in place. 

I am not saying the plant is harmless or doesn't need to be treated but stating that it is the worst thing that can happen to a house is rather hysteric. 

All recent research shows that the weed isn't as disastrous as originally thought. If I consider how prevalent the weed is in Greater London, it is expected more than 1 in 10 properties is currently effected by knotweed within it's boundaries (1 in 20 UK wide), how many properties do we see dilapidated because of the presence of knotweed? Untreated Knotweed, left to flourish would be different. However, studies have shown that even in houses in a state of complete disrepair and with the presence of knotweed, the knotweed wasn't the main contributor to the disrepair.

Finally not saying don't walk away or take it seriously but do some research before freaking out at the mere mention of it.
  

It is the worst thing if the vendor is not treating it properly and you need a mortgage, as a buyer

Studies or not, lenders still require insurance guarantee at this time and eradication or they will value a house significantly less or worse 0

SeanG79

csgohan4 said:

SeanG79 said:

csgohan4 said:

SeanG79 said:

aoleks said:

I'd rather buy a house with subsidence or other structural issues than have Japanese Knotweed hundreds of yards from my property, let alone nearby. this plant is the worse thing that can happen to a house, honestly!

You make similar claims on a number of posts, but provide no evidence to support these claims? what physical impact would a Specialist treated knotweed hundreds of yards from a property have on the property when compared with subsidence or structural issues? 

Please provide evidence of Japanese Knotweed causing damage to structurally sound buildings in the UK? And more importantly please provide any evidence in the UK of the damage caused to buildings being worse than other wooded trees? 

care to explain why lenders will not lend unless it is professionally eradicated, if it was just a harmless weed. 

Lenders base their opinions almost solely on RICS guidelines - if RICS change their guidelines then so will Lenders opinions change (which is apparently due to happen in the near future) and more recently Lenders have already become more accepting of Knotweed provided there is an insurance backed treatment plan in place. 

I am not saying the plant is harmless or doesn't need to be treated but stating that it is the worst thing that can happen to a house is rather hysteric. 

All recent research shows that the weed isn't as disastrous as originally thought. If I consider how prevalent the weed is in Greater London, it is expected more than 1 in 10 properties is currently effected by knotweed within it's boundaries (1 in 20 UK wide), how many properties do we see dilapidated because of the presence of knotweed? Untreated Knotweed, left to flourish would be different. However, studies have shown that even in houses in a state of complete disrepair and with the presence of knotweed, the knotweed wasn't the main contributor to the disrepair.

Finally not saying don't walk away or take it seriously but do some research before freaking out at the mere mention of it.
  

It is the worst thing if the vendor is not treating it properly and you need a mortgage, as a buyer

Studies or not, lenders still require insurance guarantee at this time and eradication or they will value a house significantly less or worse 0

So worse than unremedied subsidence then? Because I am pretty sure a lender wont provide a mortgage in that instance either.

Knotweed in the garden can be treated or eradicated before it reaches the property...Again not saying it's great but there can be worse things.

charlotteo1988

Well we got the report it is 6m away from the property on an embankment approx 1m x 1m. 

Management plan in place with a 10 year guarantee. 

Sent the report to natwest yesterday and this morning got a email to say they are still happy to proceed. 

👍

charlotteo1988

SeanG79 said:

csgohan4 said:

SeanG79 said:

aoleks said:

I'd rather buy a house with subsidence or other structural issues than have Japanese Knotweed hundreds of yards from my property, let alone nearby. this plant is the worse thing that can happen to a house, honestly!

You make similar claims on a number of posts, but provide no evidence to support these claims? what physical impact would a Specialist treated knotweed hundreds of yards from a property have on the property when compared with subsidence or structural issues? 

Please provide evidence of Japanese Knotweed causing damage to structurally sound buildings in the UK? And more importantly please provide any evidence in the UK of the damage caused to buildings being worse than other wooded trees? 

care to explain why lenders will not lend unless it is professionally eradicated, if it was just a harmless weed. 

Lenders base their opinions almost solely on RICS guidelines - if RICS change their guidelines then so will Lenders opinions change (which is apparently due to happen in the near future) and more recently Lenders have already become more accepting of Knotweed provided there is an insurance backed treatment plan in place. 

I am not saying the plant is harmless or doesn't need to be treated but stating that it is the worst thing that can happen to a house is rather hysteric. 

All recent research shows that the weed isn't as disastrous as originally thought. If I consider how prevalent the weed is in Greater London, it is expected more than 1 in 10 properties is currently effected by knotweed within it's boundaries (1 in 20 UK wide), how many properties do we see dilapidated because of the presence of knotweed? Untreated Knotweed, left to flourish would be different. However, studies have shown that even in houses in a state of complete disrepair and with the presence of knotweed, the knotweed wasn't the main contributor to the disrepair.

Finally not saying don't walk away or take it seriously but do some research before freaking out at the mere mention of it.
  

Natwest have agreed to a mortgage although it is less than 7m away from the house. 

It is only small it’s been treated and had a 10 year insurance guarantee with it being treated for the next 2 years and monitored for 3 years after that.