One of the standard questions raised in the Conveyancing process now is the presence of Japanese Knotweed at a property . Lenders can refuse to lend if it is present and it is expensive to remove and an environmental hazard. Whilst indemnity insurance against risks at a property is a last resort this may be a useful tool in the future
We are delighted to announce the launch of our new Japanese Knotweed indemnity policy, which will offer protection to buyers and lenders in the event that knotweed is discovered at a property. “Aggressive and destructive” Knotweed is an invasive, non-native plant that can spread relentlessly. Growing at a spectacular rate of up to four inches a day, it’s been described by the Environment Agency as the UK’s “most aggressive and destructive plant”. It can grow beneath concrete and tarmac, causing damage to buildings, roads, driveways and drains. If knotweed is discovered at a property, it can cause serious headaches for the owners, who have a legal obligation to address the problem.