Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what discussions she has had with the property and mortgage industries regarding the impact of Japanese knotweed on property values.
The Secretary of State has not had any discussions with the property and mortgage industries regarding the impact of Japanese Knotweed on property values.
The Government does not intervene directly in such matters as it is the right of mortgage lenders to choose to whom they lend money and what conditions should apply to any agreement, which could include the seller having to provide insurance.
An information paper was published in 2011 by the Royal Institute of Chartered Surveyors to encourage mortgage lenders to view Japanese knotweed as just one of the many factors that may affect property value. It advocates that mortgage lenders draw up knotweed management plans with the buyer and, where possible, owners of affected neighbouring properties.