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Japanese knotweed wrongly wiping value off homes because mortgage lenders rely on 'flawed science'

 

By Richard Walford

Interesting report in the Telegraph today about the House of Commons Science and Technology Committee concluding that UK lenders may be taking a too cautious approach to knotweed.  The report findings will hopefully encourage banks to adopt more proportionate lending policies on knotweed and fortify technical consultants to be able to propose more commercial solutions to managing knotweed risks.

Japanese knotweed wrongly wiping value off homes because mortgage lenders rely on 'flawed science' Henry Bodkin, Science Correspondent 16 May 2019 • 6:01am Japanese knotweed is wrongly destroying the value of thousands of homes because mortgage lenders are relying on discredited scientific evidence, an investigation by MPs has found. A report by the House of Commons Science and Technology Committee said banks are adopting an “overly cautious” approach to the issue, leaving homeowners unable to sell, even in cases where the invasive plant poses no practical threat. The committee contrasts the stance of UK lenders with that of European counterparts, finding that mortgage companies on the continent are far less risk-averse.
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