The Impact of Spray Foam Insulation on Mortgage Approvals

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Why Does Spray Foam Insulation Cause Issues?

The main concern with spray foam insulation is its potential to trap moisture, which can lead to hidden structural damage. It has become an increasing issue as it can cause problems if it the wrong type of foam is used or if it is not installed to industry specifications as it may not be breathable and therefore, it stops evaporation and holds moisture in the incorrect place. This can speed up the rot of timber roofs and lead to structural degradation. 

Additionally, spray foam is also sometimes used to disguise a leaking roof by diverting the water flow which would otherwise come into the property from damages tiles/slates. Again, leading to more serious structural issues over time and therefore, making it more difficult for valuers to assess the condition of the property. 

 

How Lenders View Spray Foam Insulation

Due to these concerns, many mortgage lenders will decline a property with spray foam insulation. Other will assess on an individua basis but still rely heavily on the valuer’s report. Some will agree to proceed with the mortgage on the condition that the spray foam is removed entirely, new insulation is added and then it is inspected again. So, essentially it is down to the valuers as the lenders rely heavily on their valuation to decide if they deem it mortgageable. 

 

At The Mortgage Lady UK, we are a whole of market mortgage brokers, so we work with a wide range of lenders and can research criteria before the house is valued to get you the best chance of remortgaging or purchasing the property you want.

 

Guidance from RICS

The Royal Institution of Chartered Surveyors (RICS) provides detailed guidance on spray foam insulation, which valuers refer to when assessing properties. If you are dealing with a spray foam issue, reviewing RICS guidelines can help you understand potential concerns and solutions. You can find more information on their website.

 

Get Expert Mortgage Advice

It can be challenging to navigate the complexities of mortgage approval for properties with spray foam insulation, but at the Mortgage Lady UK, we specialise in finding mortgage solutions for all properties including those with spray foal issues. Our whole-of-market approach means we can search the entire lender landscape to find options tailored to your circumstances.

Contact us today for expert advice and we can help guide you through the process of mortgaging or re-mortgaging a house, even with potential spray foam issues.

 

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