Over the past 6 months it has become apparent that people are not receiving mortgages due to the occurrence of Japanese Knotweed within their land. However there is still a small minority of people not believing that a Japanese Knotweed problem will effect a mortgage agreement…..
Below is what a Santander spokesman had to say about the matter…
A spokeswoman for Santander said: “Due to the invasive and destructive nature of Japanese Knotweed, if it is found in close proximity to the property we would need to assess whether or not a mortgage could be accepted.
“If the surveyors report shows evidence that Japanese Knotweed threatens the structure of a building, then a mortgage application would be refused. The refusal of mortgage applications if Japanese Knotweed is deemed a threat to the property is standard across the industry and not only applicable to Santander.”
So far we have seen many cases where the Japanese Knotweed apparently threatens a property, even if it is 30 metres away… If you have Japanese Knotweeed nearby, you are not likely to get a mortgage with ease.