Japanese knotweed can affect a remortgage in much the same way as a purchase, because the new lender relies on a valuation that will flag a stand. A remortgage means a fresh valuation, so knotweed the current owner has lived with can suddenly become a lending question. Our guide to how knotweed affects a mortgage explains what lenders want, and this page covers what a remortgaging owner should have in place to keep the process smooth.
Does Japanese knotweed affect remortgaging?
Japanese knotweed affects remortgaging because a remortgage requires a fresh valuation, and a valuer who identifies a stand will flag it to the new lender just as on a purchase, so the lender will want evidence the risk is managed. If you already have a treatment plan and an insurance-backed guarantee, that evidence is ready and the remortgage usually proceeds. Where there is no plan, the valuation flag can hold up the application until one is arranged, which is why it is worth getting ahead of.
Why does a valuer treat it like a purchase?
A valuer treats a remortgage like a purchase because their job is to assess the property's value and lending risk for the new lender at that moment, regardless of how long you have owned it. Knotweed is a factor in that assessment, so it is flagged whether the loan is new money or a switch. The RICS 2022 standard and its management categories guide how a stand is assessed. This is why a survey and a plan are as relevant to a remortgage as to a sale.
What does a current plan and guarantee do?
A current treatment plan and a live guarantee mean the risk is already managed and documented, so the new lender has the reassurance it needs and the remortgage can proceed without a fresh hold-up. The guarantee funds further treatment if the knotweed returns and is backed by an insurer, and audited Property Care Association members issue them, typically for 10 years. Keeping the treatment record and guarantee to hand is what turns a knotweed flag on a remortgage valuation from a problem into a formality.
What if I have no plan in place?
If you have no plan in place when you come to remortgage, the practical step is to arrange a survey and a costed treatment plan promptly, because a survey and plan can usually be produced within a week or two, often enough for the lender to proceed. Excavation gives an immediate clearance where a lender wants the ground clear, though most accept a plan and guarantee with treatment continuing. Getting the survey booked early avoids the remortgage stalling while the paperwork catches up.
Common questions
- Will my current lender call in the mortgage over knotweed?
- Lenders do not generally call in an existing mortgage because knotweed is found, since your current loan is already in place. The issue arises on a remortgage or a further advance, which triggers a fresh valuation.
- Can I remortgage with knotweed and no treatment yet?
- It is possible but harder, because the new lender will want a plan and guarantee. Arranging a survey and costed plan, which can be done in a week or two, is usually what allows the remortgage to proceed.
- Does a product transfer with my existing lender need a valuation?
- A simple product transfer with your current lender often does not require a new physical valuation, so knotweed may not arise. A remortgage to a new lender does, which is where a plan and guarantee matter.