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http://www.adviceguide.org.uk/index/your_family/home_and_neighbourh...
In effect, it will knock about fifteen thousand off of the value of both properties since nobody wants to move in next to a neighbour from hell.
Take the tree out, plant a shrub and kiss and make up!
This tree is 5M from the wall of our extension (2 stories) and 1m from the edge of a raised patio area. The tree has been proffessionaly crown thinned roughly every 4 years by a local aborist. (Message me if you would like a picture)
THe advice when the extension was built was that it is pretty unlikely that any tree will damage good foundations, unless the soil type is heavy clay, and the area is regullalrly water logged, causing fluctuations in soil volume. We were also told that removal of a mature tree does more damage as it changes the soil hydrology, again changing soil volumes, and taking the area out of equilibrium for a time as roots settle and the soil "heaves up" as its water content increases.
For young trees as we have just planted a 2.5m Rowan sapling 1.5m from a garage, the advice was much the same, no effect in our lifetime, and certainly not on our deep well drained soils. (again message if you want a picture),
PS look at this website : http://www.gardenlaw.co.uk/trees.html (Read the whole article)
Half way down is the opinion of an arborist - Birch / Rowan 4 - 5 Meters safe distance. And these distances are cautious and appear to be based on the assumption of 14m / full grown height.
Just move it! The cost of moving a 2 mt sapling is negligible ( 30 mins work ?) so don't even think about recovering costs!
We'll be recommending to our clients that we move the trees during the autumn.
Thanks again.