Why do mortgage companies dislike foam insulation?

So why is it a problem for mortgage lenders? By sealing the roof space with this material, air circulation can be restricted to the roof and timbers. This can lead to condensation, which in turn can eventually lead to the rotting of the wooden roof supports. The closed cell foam version also sets very hard.

andywilsonfs.co.uk - Spray foam insulation - Andy Wilson Financial Services

How can I hide my surface wires?

7 Ways to Cover Up Ugly Wires Start with a simple clip. Cover it up with books. Camouflage with a decor element. Make more use out of a gift box....

Last updated Jul 16, 2021

Will heating a shed stop condensation?

Along with ventilation, heating your shed works wonders for keeping damp under control. If you have mains power to your shed, it's worth thinking...

Last updated Nov 29, 2020

These are the Best Shed Plans!

Comprehensive and Intuitive to follow. Build That Shed!

Learn More »

Promotion

Spray foam insulation Posted on November 11th, 2020 , written by Andy Wilson Spray foam insulation has been around for over 30 years, but it is becoming more popular as a means of insulating attic and roof spaces. However, this can significantly affect your chances of getting a conventional mortgage or equity release lifetime mortgage.

What is spray foam insulation?

Also known as spray foam, or spray polyurethane foam (SPF), this is an alternative to traditional building insulation such as fibreglass, wool or mineral fibre rolls. It can be used to insulate your roof, loft, walls and floor – but it is the roof installation that particularly causes problems for UK mortgage lenders. The foam is applied in a liquid form using powered sprayers, which then expands and turns to a solid coating. This foam has greater insulating properties than many alternatives.

There are two types of spray foam insulation to choose from:

Open cell spray foam insulation – this has cells that are not completely encapsulated. This makes the foam a more spongey, softer and more flexible material. Closed cell spray foam – cells in this form are completely closed. This means air and moisture cannot get inside the foam, and it sets much more rigidly and is more stable. Spray foam insulation is more expensive than other forms of insulation material. For example, a client of ours paid almost £4,000 to have the foam professionally applied under the roof of her 3 bedroomed detached home in Lincolnshire, and this roughly matched the initial cost of installing the foam. It is also suggested that it may cause health issues, as harmful fumes are sometimes given off during installation and could linger afterwards. This can affect those with existing breathing or respiratory complaints, including asthma.

So why is it a problem for mortgage lenders?

By sealing the roof space with this material, air circulation can be restricted to the roof and timbers. This can lead to condensation, which in turn can eventually lead to the rotting of the wooden roof supports. The closed cell foam version also sets very hard. This can put stresses onto the supporting roof timbers too, causing distortion of the roof itself.

How big of a storage unit do I need for 2 cars?

4. Extra Large-Sized Units. If you're looking for the deluxe self-storage solution, consider a 10x20, 10x30, 12x30 or 20x20 storage unit. These are...

Last updated Mar 15, 2022

How wide are portable wheelchair ramps?

around 28"-30" wide Full-width portable wheelchair ramps are the most popular style of wheelchair ramps, as they are compatible with nearly all...

Last updated Apr 10, 2022

Promotion

Naturally, these are major concerns to lenders who might be looking to arrange a mortgage on the property for 25 years or more. Removing the foam material is likely to be more expensive than having it installed in the first place, as the sprayed material penetrates all of the crevices and gaps behind timbers, making them difficult to access and remove. Even having done this, not all lenders will then be happy to accept the property for a mortgage. This is because the damage may already have been done. Some modern forms of Icynene foam may arguably not cause any damage – but it makes little difference to the mortgage situation until lenders and surveyors start to accept any presented evidence that it is indeed safe to use. This may be some time away yet.

So which lenders will accept spray foam insulation?

As mortgage and equity release advisers, we have access to tools that provide data on the lending criteria of most However, since February 2022 there are now NO equity release lenders who will consider properties with this type of insulation. There are a number of mortgage lenders who may accept it – but all require a referral to them before proceeding, and will usually need Valuer’s approval and be able to meet certain criteria about the type and material used. This can be a problem if you have to pay for a Valuer to visit only to find they reject the property. Some installers will say that open cell foam is safe and accepted by lenders, but in fact both open and closed cell formulation have been seen to cause damage to roof timbers.

So what should you do?

If you are interested in mortgaging a property which has spray foam insulation installed, or are considering buying one (always ask the estate agent whether this is the case) then you need to get advice on what type of mortgage might be available to you. You will need to find out as much about the installation as possible – when was it installed, which type is it (open or closed cell), which firm installed it, whether a guarantee available, the age of the property and the age of the roof, and any other relevant information. Also, don’t forget that the resale prospects for the property are likely to be badly affected by the installation of spray foam insulation due to the lack of availability of mortgage funding. If problems with the foam get worse in the future, it could be that only a cash buyer will be able to buy your home.

Why do interior designers use SketchUp?

SketchUp is a widely used piece of software in the interior design and architecture community and is great for bringing architectural or design...

Last updated Nov 23, 2021

Should a kitchen sink be vented?

A kitchen sink drain needs to be vented so as to prevent clogging and ensure free flow of water and liquids from the sink. also, venting a kitchen...

Last updated Feb 1, 2021

Can I build my own shed?

Yes, with the right plans you can build your dream shed.

Learn More »

Promotion

There are very few conventional mortgage lenders who may accept the open cell foam for mortgage purposes, and these tend to be smaller building societies, or specialist lenders who can charge higher interest rates. However, at Andy Wilson Financial Services we have taken the decision not to undertake any further mortgage cases where spray foam is involved. This is due to the potential for spending many hours of unpaid research trying to secure loan facilities, only to see the outcome being an inability to obtain the necessary finance. For many clients who have contacted us for help, the only solution has been to get the foam professionally removed. This involves a very laborious process to cut the foam away from the roof and timbers where possible and then reapply to the lender. Even then, lenders may decline a new loan as the exposed timbers may now reveal damage by way of wet rot and possible beetle infestation. In come cases, the foam has been sprayed straight on to slates or tiles. The sticky foam cannot be removed, and so a whole new roof covering may be required at substantial cost.

Blog updated October 2022

Source: which.co.uk Oct 2020

andywilsonfs.co.uk - Spray foam insulation - Andy Wilson Financial Services

Do you need planning permission to drop a KERB?

You will need planning permission before you can apply for a dropped kerb if you live on a classified road.

Last updated Nov 28, 2021

Can solar panels cause health issues?

Electricity from solar panels and transmission to the power grid emits extremely weak electromagnetic fields. Exposure to low-level electromagnetic...

Last updated Aug 7, 2022

Can I build my own shed?

Yes, with the right plans you can build your dream shed.

Learn More »

Promotion

Can I live in a caravan in my parents garden?

Caravans, including mobile homes up to 65x22ft, can be sited in the direct garden of a house without planning permission if they are used by...

Last updated Aug 8, 2018

Promotion

Can I use a garden shed as an office?

Converting your garden shed into an office could be the ideal solution. Transforming a little-used outdoor structure into a convenient work space...

Last updated Mar 23, 2018