logo
Warning as mortgage rejected due to Japanese knotweed plant

Warning as mortgage rejected due to Japanese knotweed plant

Property expert Terry Fisher, from Sold.co.uk is urging potential buyers to also check neighbouring gardens to see if they are overgrown.
It comes as a Reddit user recently shared how they had their mortgage rejected based on Japanese Knotweed.
The original poster wrote: ''No Mortgage because Japanese Knotweed on neighbour's property.'
They then explained: 'We've found our perfect first home. Done all the applications and forms, was asked for a Coal Authority Survey, paid that, pre-booked our L2 survey…Mortgage DENIED.
'Because there's Japanese Knotweed in the neighbour's garden.'
Some comments pointed out the bank did the poster a favour, due to the invasive plant can cause.
Property expert Mr Fisher, from Sold.co.uk, agreed that a neighbouring property could have a bigger impact on the value of a home than many think.
He said: 'Japanese knotweed, along with many other species of invasive plants, can cause untold amounts of damage to a property. Costs can quickly spiral into the thousands when it comes to treating it.
'It can severely impact the value of your property. And it's called 'invasive' for a reason, due to the speed it can spread and grow.
Tips for first-time buyers
'If it features in a neighbouring property of a home you want to buy, it's definitely cause for alarm.'
What is Japanese knotweed?
Japanese knotweed, which was introduced to the UK as an ornamental plant in the nineteenth century, can only be removed with costly specialist treatment.
The plant has a reputation for causing damage to property and foundations and can derail house purchases.
Mr Fisher continued: 'Before you allow yourself to fall in love with a property or sign on the dotted line, take a look at your neighbours' land.
Recommended Reading:
'If Japanese knotweed is present, I would seriously reconsider the purchase. Of course, a survey should flag risks to your property but the plant can die back and regrow from even the tiniest root. It can be missed.
'You can manage it with a treatment plan and even seek compensation from your neighbours if it does breach onto your land.
'But if you don't get a grip of the issue, you could be faced with costly repairs, pricey professional removal and further costs if it spreads from your land to other properties.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tottenham considering £15m transfer offer from LAFC for captain Son Heung-min – but he won't leave before tour
Tottenham considering £15m transfer offer from LAFC for captain Son Heung-min – but he won't leave before tour

Scottish Sun

time4 hours ago

  • Scottish Sun

Tottenham considering £15m transfer offer from LAFC for captain Son Heung-min – but he won't leave before tour

Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) TOTTENHAM are considering a £15million offer for captain Son Heung-min. The South Korea star's future in North London is in doubt with him being a target for LAFC. Sign up for Scottish Sun newsletter Sign up 10 Tottenham could sell Son Heung-min this summer Credit: Alamy 10 LAFC are interested in signing the Spurs captain Credit: Reuters 10 He has been in North London since 2015 Credit: Reuters 10 He was a £22m signing from Bayer Leverkusen in 2015 Credit: PA:Empics Sport Spurs have already been active in the transfer market for new manager Thomas Frank. The club have brought in West Ham attacker Mohammed Kudus and are interested in Nottingham Forest star Morgan Gibbs-White. Son, 33, could head for the exit door as SunSport understands Spurs would accept an offer between £15m and £20m. A potential switch to the MLS would still rely on the Europa League winner agreeing to the move. READ MORE ON SPORTS VIKTOR BLOCK-ERES Arsenal transfer for Gyokeres 'hijacked twice' as Sporting took offers The former Bayer Leverkusen ace could instead decide to stay and fight for his spot at N17. Son is involved in the discussions over the transfer with all parties. However, a move will not be immediate as Son is likely to stay at Spurs for their fixtures during the pre-season tour of Asia. Last season's 17th-placed Premier League finishers face Newcastle in Seoul, South Korea on August 3. SUN VEGAS WELCOME OFFER: GET £50 BONUS WHEN YOU JOIN This match follows on from the North London derby against Arsenal in Hong Kong. If Spurs were to sell Son before facing the Toon, they would then forfeit up to 75 per cent of the fee they would receive for playing. Son Heung-min hit in head by TROPHY as Tottenham celebrate Europa League victory over Man Utd Son is down as a "key player" in the contract for the touring Premier League side. If he were to travel with the squad but not play, then Spurs would be docked half their fee. The South Korean international is hugely popular in his homeland and wider Asia. Last season, Son scored seven times and assisted nine goals in 30 Premier League appearances. 10 10 Son did lift the Europa League last term Credit: Getty 10 Frank does not want to push Son out the door Credit: Getty Despite the club's shocking performance domestically, Son did become the first captain to lift a trophy since Ledley King in 2008. Frank has spoken about Son's future and appears to be happy if he decides to stay. He said: "Right now, I have a player who is fully committed and training well. "If a player has been at a club a long time, then there will always be a decision for the club to take." As well as Kudus, Spurs have already signed Japanese ace Kato Takai and made Mathys Tel's loan from Bayern Munich permanent. The club has also welcomed young defender Luka Vuskovic from Hajduk Split. Their pursuit of Gibbs-White is at a standstill despite triggering his £60m release clause. Forest have halted the transfer after claiming the approach from Spurs was "illegal". 10 Spurs have already added Mohammed Kudus this summer Credit: Getty 10 Morgan Gibbs-White was also a target for the North London club Credit: Getty 10 TRANSFER NEWS LIVE - KEEP UP WITH ALL THE LATEST FROM A BUSY SUMMER WINDOW

Dollar edges up against euro, slips versus yen on trade deal progress
Dollar edges up against euro, slips versus yen on trade deal progress

Reuters

time6 hours ago

  • Reuters

Dollar edges up against euro, slips versus yen on trade deal progress

July 24 (Reuters) - The dollar edged higher against the euro on Thursday following progress in U.S. trade talks with key partners, but slipped against the yen as Japan's currency got a lift from expectations for higher interest rates. The Japanese central bank's deputy governor, Shinichi Uchida, said a trade deal with Washington had reduced economic uncertainty, comments that fuelled optimism in the market about the potential resumption of interest rate hikes. Still, some analysts think the yen faces persistent headwinds due to domestic political uncertainty following Sunday's upper house election. The European Union is nearing a deal that would impose a broad 15% tariff on EU goods entering the United States, roughly in line with economists' expectations. Meanwhile, risk assets rallied as the trade deals eased fears over the economic fallout of a global trade war. The risk-sensitive Australian dollar rose to an eight-month high of $0.6625 on Thursday. The euro fell 0.1% at $1.1760, not far from a high of $1.1830 it hit earlier this month, which marked its strongest level in more than three years. "We maintain our view that we would see some wobbles in risky assets in August as we see some slowdown in the (U.S.) employment data," said Mohit Kumar, economist at Jefferies. "As of now, there has been very little tariff impact on the hard data. But that does not mean it's not coming," he added, arguing it would take at least three months to see the fallout of trade duties on hard economic figures. Against the yen , the dollar fell 0.10% to 146.35, extending its fall against the Japanese currency to a fourth straight session. Olivier Korber, forex strategist at Societe Generale, expects the yen to strengthen further, citing support from the trade deal and prospects for higher interest rates. "The local press reported that he (Prime Minister Shigeru Ishiba) should decide if he will resign in late August and, if that were to happen, a new party leader would probably be selected in September," Korber said. "This would ensure a smoother political transition, thus limiting market uncertainty," he added. Ishiba denied on Wednesday he had decided to quit after a source and media reports said he planned to announce his resignation to take responsibility for a bruising upper house election defeat. Trade negotiations aside, market focus is also on a rate decision from the European Central Bank later in the day. Expectations are for policymakers to keep rates unchanged, though markets will look out for what they say about the outlook for monetary policy. Investors generally expect one more ECB rate cut by the end of the year, most likely in December. Data showed that German business activity continued to grow marginally in July. Currencies mostly shrugged off news that U.S. President Donald Trump, a vocal critic of Federal Reserve Chair Jerome Powell, will visit the central bank on Thursday, a surprise move that escalates tensions between the administration and the Fed.

US stock futures higher after trade deals with Japan, Philippines
US stock futures higher after trade deals with Japan, Philippines

The Herald Scotland

time10 hours ago

  • The Herald Scotland

US stock futures higher after trade deals with Japan, Philippines

Magnificent Seven stocks are megacap tech stocks that have a strong influence on the market. They also include Apple, Microsoft, Nvidia, Meta and Amazon. In 2024, they accounted for about one-third of the S&P 500's total market capitalization. When Tesla and Alphabet report, investors will scour their reports and comments for any signs of weakness in artificial intelligence spending or effects of tariffs to extend the rally begun by trade deals announced by President Donald Trump. The U.S. and Japan agreed to a trade deal that included Japan's investing $550 billion in the U.S. and a 15% tariff on Japanese goods entering the U.S. That includes auto tariffs, which will be lowered to 15% from the current 25%, according to reports. Additionally, Trump said the U.S. struck a trade deal with the Philippines that includes a 19% tariff on goods imported from the southeast Asian country and no tariffs on U.S. goods entering the Phillippines. The two countries will also work togther militarily, he said. Final talks with Indonesia on its trade deal are also underway, the White House said. The framework includes will no tariffs on U.S. goods, while Indonesian goods entering the U.S. will be taxed at 19%. At 6 a.m. ET, futures tied to the blue-chip Dow rose 0.50%, while broad S&P 500 futures gained 0.39% and tech-heavy Nasdaq futures added 0.18%. Before the market opens, toy maker Hasbro, AT&T, Boston Scientific and Hilton are among the companies expected to report earnings. Corporate news Texas Instruments' second-quarter results topped Wall Street estimates, but the lower range of its current quarter guidance missed. CoStar Group reported better-than-expected results for the second quarter. Cal-Maine Foods results in the company's last three months of its fiscal year beat analysts' expectations, helped by egg prices. Enphase Energy's second-quarter earnings topped anlaysts' expectations, but current-quarter revenue forecast was mostly below forecasts. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store