Knotweed insurance backed guarantees (IBG) are required by most lenders in order to lend on property affected by Japanese knotweed.
Environet is pleased to announce that all our guarantees are now underwritten by an insurer at Lloyd’s. Our clients can be confident they have the best available guarantee from a market leading knotweed specialist and an “A” rated insurer.
When securing a mortgage against a property infested with knotweed, it is always advisable to check the lender’s policy relating to Japanese knotweed before incurring significant costs. In particular you should determine whether the lender requires a knotweed insurance backed guarantee, and if so whether it should be from a “rated” insurer, such as those at Lloyd’s.
Our knotweed insurance backed guarantees (IBG) are acceptable to many of the main lenders. If problems are being experienced with lending on a property please contact us and we can put you in touch with a lender who can assist.
Knotweed insured guarantees are new to the market. They are designed to cover the liabilities in the event of the knotweed specialist that has provided the guarantee not being able to perform due to insolvency. You should carefully read the small print to check that you are obtaining value for money, and to check whether your lender will accept the insurer as providing suitable security.
It is essential that any guarantee that is given is provided by a company with the resources to honour the guarantee. It is therefore essential that the company providing the knotweed insurance backed guarantees has a long track record in the specialist niche of knotweed eradication, and has a strong financial background.
Several other firms offer knotweed insurance backed guarantee but very few of these are underwritten by rated insurers – BEWARE.