Time is running out for buyers in England and Northern Ireland to complete their purchases before the stamp duty holiday ends on 31 March 2021. Any deals concluded after that deadline will be subject to the lower threshold for Stamp Duty Land Tax; at present, buyers only pay SDLT on properties worth £500,000 or more, but at the end of March, the tax will apply to residential properties worth £125,000 or more.
UPDATE - 3 MARCH 2021: Chancellor Rishi Sunak has announced that the stamp duty holiday will be extended for another three months. Read more here.
Understandably, those in the process of buying properties are currently scrambling to finalise everything before the new threshold comes into effect. But if there's one thing that can be relied upon to bring a property sale to a screeching halt, it's Japanese knotweed.
MORE: Sellers Urged to "Be Honest" About Knotweed
Writing for inews.co.uk, Gareth Shaw - head of money at Which? - recently answered the following letter from a concerned parent:
My daughter, a first-time buyer, has found a property. We're hoping to complete so she can avoid stamp duty by the March deadline, but her surveyor discovered Japanese knotweed near the property. Will she lose her mortgage?
In his reply, Shaw noted that the answer to this question depends on the severity and proximity of the knotweed infestation, and advised his correspondent to "look for a second opinion and consider employing a specialist".
Why consult a Japanese knotweed specialist?
If you've discovered Japanese knotweed on a property that you're trying to buy ASAP, a qualified knotweed expert can help by...
With the help of a qualified specialist, you may still be able to complete your purchase in time for the March stamp duty deadline.
For more information, see Can You Get a Mortgage on a Property with Japanese Knotweed? - a helpful article written by PCA-registered invasive weed surveyor Rob Higgins of Taylor Total Weed Control.
Japanese Knotweed Removal Request a Free Survey
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