WARNING TO BORROWERS
THE Principality Building Society's group chief executive said some mortgage lenders were reluctant to touch properties that may be affected by Japanese Knotweed.
The advice of Graeme Yorston is to make sure the property has been investigated in full before brokering any deal.
He said: "Japanese Knotweed grows vigorously, can cause damage and is extremely difficult to eradicate, which can be an issue for homeowners.
"Unlike a number of banks and building societies, Principality will always look at the risk of the Japanese Knotweed and we will consider mortgage applications on properties where Japanese Knotweed exists or is known to have existed, subject to a specialist report containing a management and eradication plan.
"Under our guidance this must be done by a trained professional from the Property Care Association and should always be accompanied by an insurance-backed guarantee."