Be Careful – It’s a Jungle Out There!

Be Careful – It’s a Jungle Out There!

Japanese Knotweed Indemnity Policy Now Available

Whilst the presence of a garden is often something that buyers look for, not all plants are friendly to home owners.

Buyers and especially lenders will always be rightly concerned when a seller’s replies to a Property Information Form indicate that there is a risk that Japanese Knotweed (“Knotweed”) may be present on a property. This previously ornamental plant has been reported to grow up to 10cm a day in summer and be powerful enough to break through concrete and undermine foundations. Consequently many lenders will refuse to lend or will impose strict conditions when there is a danger that Knotweed might raise its ugly head in a property.

Stewart Title’s new Residential Japanese Knotweed Indemnity Policy now gives lenders and buyers the confidence they need to proceed with a purchase.

Covering residential properties for a period of 5 years for buyers and the term of a loan for lenders, this new policy provides up to £20,000 of cover against remediation costs necessary to comply with a remediation notice.

The Residential Japanese Knotweed Indemnity Policy is available where the sellers are not aware if Knotweed is present and even where it has previously been treated.

Stewart Title’s UK Country Manager Stephen Smith comments “We rely on our clients’ feedback to understand how we can further help them and have received many requests for a policy to deal with Knotweed. Conveyancers are required to deal with many hazards and hurdles throughout the process of helping their clients buy their homes and this is another way in which Stewart Title can support and assist them.”

Residential Japanese Knotweed Indemnity Policies are available via Stewart Title’s online ordering platform at www.stewartsolution.com and Bespoke Policies can be ordered at [email protected].

This article was published by Stewart Title Limited as part of their advertising agreement with Today’s Conveyancer.

The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

Stewart Title Limited

http://www.stewarttitle.co.uk/

 

 

 

 

 

Stewart Title Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.  Registered in England and Wales No: 2770166. As a wholly owned subsidiary of Stewart Title Guaranty Company, Stewart Title Limited is the primary underwriter for Stewart’s transactions in the United Kingdom, Europe & Australia.

Stewart Title Limited’s operations are headquartered in London with offices throughout the UK and Europe. Out of our European offices, we offer the following products for European customers:

  • title insurance policies for home buyers and lenders
  • commercial title insurance policies
  • escrow services

Out of our UK office in London, we provide the following products specifically for buyers and lenders, and for residential and commercial properties:

  • coverage for various defective titles and restrictive covenants issues
  • search insurances
  • online self certification policies
  • title indemnity policies for residential and commercial re-mortgages
  • bespoke policies for lenders and portfolio matters

Stewart Title Limited employs underwriters and local associates who have the experience and knowledge required of their respective markets to handle any transaction throughout Europe, big or small, with the efficiency and dedication that it deserves.

Contact: Jonathan Woodcraft

Tel: +44 (0)20 7010 7820

Email: [email protected]

Address
6 Henrietta Street
3rd Floor
Covent Garden
London
WC2E 8PS

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