Guidance Notes on Japanese Knotweed

Invasive Vegetation Management & Treatment Ltd - August 2016 Newsletter Guidance Notes on Japanese Knotweed How to minimise the loss of an instruction, sale or purchase due to Japanese Knotweed. Ask the vendor if they are aware of the presence of Japanese Knotweed on their property or immediately adjoining their property. It will be a question asked by the solicitors as part of pre-contract enquiries. If your vendor is unsure, take photographs of anything suspicious and we will advise. Go to our website www.knotweed-uk.com and download the free guide to Japanese Knotweed to assist identification. The RICS valuers are obliged to identify within their valuation survey and report to the mortgage lender. If identified it is probable that the mortgage lender will refuse funds without an approved 10 year insured guarantee and treatment plan by an accredited and recognised invasive weed contractor. What is the Process? If the valuer or Building Society require a survey report to confirm Japanese Knotweed is not growing within a zone of influence to represent risk, a survey can be carried out, followed by a written report and the cost to the vendor or purchaser is usually around £250.00 + VAT. If Japanese Knotweed is growing within the property a proposal treatment programme survey can be carried out without charge. The purchaser or vendor will be offered the treatment programme together with the option of a 10 year insured guarantee. The cost of a treatment programme is usually around £2,500.00 - £3,000.00 + VAT can be spread over the two year treatment programme. The cost of the insured guarantee is a single premium i.e. one payment. The IVM 10 year guarantee and the 10 year insured guarantee is assignable to successors in title throughout the term. If the vendor / purchaser appoints IVM and accepts the proposal, the insurance application is made and the insurers issue the policy, providing payment has been made in full, which will satisfy the majority of lenders and mortgage approval would not be declined (subject to all other lending criteria). Under the terms of the treatment programme and a prerequisite of the insured guarantee, IVM commences the treatment programme which is normally two full growing seasons followed by two year monitoring the policy commences from the date of the first treatment. Exceptions There may be circumstances where the Japanese Knotweed is a “cross boundary” issue, but these can also be dealt with in a similar format subject to co-operation by third party land owners. If you have any questions or queries, please rest assured that your contact will always be welcomed. Guide to Japanese Knotweed If you would like a free copy of our Guide to Japanese Knotweed email michael@i-v-m.co.uk to request one. Find us on Facebook, Youtube and Twitter @IVMLtd image 1 And Now the Good News! Detailed discussion between the PCA, the RICS and the mortgage lenders resulted in a 10 year insured guarantee option being available but only to accredited PCA members. The insurance removes one of the obstacles to obtain funding as well as assisting in future sales. The insured guarantees became available in November 2012. Key Benefits It removes an obstacle in obtaining a mortgage. Assists future sales. In simple terms it insures the contractor guarantee for 10 years. Mortgage lenders will take into consideration a range of factors as you know when offering mortgage approval. It should definitely assist if Japanese Knotweed is the only issue. image 2 Why Choose IVM? IVM offer tailor made eradication programs for Japanese knotweed, Giant Knotweed, Hybrid Knotweed and Giant Hogweed. All treatments undertaken by IVM are guaranteed. Invasive Vegetation Management & Treatment Ltd (IVM) offer guaranteed eradication of Japanese Knotweed (JK) using the advanced IVM 'FAST' System, this system uses the latest application techniques and scientific research to ensure complete eradication of Japanese Knotweed, Giant Knotweed and Hybrid Knotweed. The company directors have 31 years combined experience in Japanese Knotweed Treatment & Invasive Vegetation Management between them. The company has a wealth of experience in the scientific treatment of invasive plants, and can tailor a treatment program to suit any construction program. We pride ourselves on their Health and Safety and Environmental awareness, with all operatives trained to high standards and being members of NRoSO, BASIS, Amenity Assured and the PCA.