Warning as mortgage rejected due to Japanese knotweed plant
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.
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'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.'
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