Japanese Knotweed was originally introduced by the Victorians as a decorative plant. It has spread throughout the country and can be problematic. There have been horror stories of houses being 'invaded' by the plant; treatment and remediation works can be expensive.
At the present time, professional advisers involved in a Residential Property transaction where the property is affected, are in an impossible position. There is no consistent approach to treatment and Lender's requirements are inconsistent. Some Lenders have adopted the stance that they will not lend on any property where Japanese Knotweed is growing within the boundaries.
RICS (The Royal Institution of Chartered Surveyors) plan to publish a protocol "Japanese Knotweed and Residential Property" in March 2012 following consultation with leading Japanese Knotweed treatment organisations. This is fully supported by the Lenders.
We hope that this Protocol brings some clarity to what is a confusing area.
Mullis & Peake LLP - Your Residential Property Experts
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