Japanese Knotweed is potentially as great a risk to property as flood for the conveyancing process; the speed at which the plant has spread, and continues to spread, throughout Britain is nothing less than spectacular. As a result, the Environment Agency describes Knotweed as ‘the UK’s most aggressive and destructive invasive plant’.
Japanese Knotweed Hazard Alert
STL’s new and unique Japanese Knotweed Hazard Alert immediately informs you of the risk of Japanese Knotweed at residential properties when you order your usual property searches. This free alert automatically identifies if the risk is medium or high and is based on exclusive data from the Centre for Ecology & Hydrology
Japanese Knotweed Insurance Policy
Then, with just a couple of clicks, you can order an insurance policy to help protect your buyer and the lender in the event that Japanese Knotweed is identified on the property within 5 years. This highly affordable insurance is provided by CLS Risk Solutions and covers properties of up to 0.5 acres (larger properties quoted on application). It covers up to £20,000 towards financial loss if Japanese Knotweed is found at the property including:
The policy covers the buyer and successors in title, including any mortgagees, lessee or changes of the property or any part thereof
Do you have a question about our Japanese Knowtweed Hazard Alert and Insurance Policy? If so, check our FAQ page.
This highly invasive plant penetrates drains, paths and driveways, boundary/retaining walls, outbuildings, conservatories and gardens. Japanese Knotweed is therefore a serious and necessary consideration for conveyancers and this is reflected in the TA6 form question ‘is the property affected by Japanese Knotweed? (Yes / No / Not Known)’.
Japanese Knotweed: Did you know…