Tag: Japanese knotweed
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Japanese Knotweed: Why Half of Buyers Would Walk Away
New research suggests that half of buyers and renters would walk away if Japanese knotweed were found. For conveyancers, the deeper lesson concerns investigation, disclosure, mortgageability and advice that helps the buyer make an informed decision before exchange
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Lenders Put Conveyancers in a Stranglehold over Japanese Knotweed
Lenders such as HSBC have updated its requirements regarding Japanese knotweed for prospective mortgage applicants. If knotweed is present on or near a property, a comprehensive survey and treatment plan from accredited professionals are necessary. Changes in lender requirements over time may complicate future sales or remortgage situations involving previously undisclosed knotweed.
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November 2016 Overview – CML Handbook and BSA Mortgage Instruction Changes
Key Statistics for November 2016 (England & Wales): 35 lenders made changes to their instructions 130 sections were changed by lenders 5 lenders made changes to their minimum lease term requirements 6 lenders made changes on more than one occasion in November 3 lenders set out a disclosure obligation relating to Japanese knotweed One lender…
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Japanese Knotweed : Knot Disclosing to Lenders
This week three lenders followed HSBC’s lead* in using the CML Handbook Part 2 to set out their conveyancing instructions relating to Japanese Knotweed. What should otherwise be a simple ”yes-or no” to question 5.4.4 instead stands as just the latest example of how lenders can utilise Part 2 of the CML Handbook to heap…
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Latest HSBC CML Handbook Change will Have Conveyancers Tied up in Knots
What should otherwise be a simple ”yes-or no” question instead stands as just the latest example of how lenders use the CML Handbook to heap more complex and onerous obligations on their conveyancing panel lawyers. But, since nothing is ever simple when it comes to CML Handbook compliance, the question “Does the lender want to…