About Mortgage Lenders

Spray Foam insulation is a liquid foam that is sprayed onto the underside of the roof pitches to provide an extra layer of insulation to the property.

However, for all the good that it can do, it also causes issues with some lenders. The problem in this case is that many lenders of mortgages and equity release companies  refuse to accept homes with spray foam insulation as suitable security for a mortgage or lending. Many lenders are reluctant to lend on a property that has this type of insulation installed to the roof.

Many properties have to have the roof replaced in order for the property to meet the acceptable standards for the lender. This means that the existing roof may need to be taken off and everything needed to be new, the timbers, felt and all the tiles. This is at a massive financial cost to the owner, not to mention the emotional rollercoaster that the homeowner goes through all because there is spray foam insulation present but www.sprayfoamremoval.co.uk can help

Now, this doesn’t mean that spray foam insulation is a bad thing, it has been used for more than 30 years in the UK and many lenders still deem it an acceptable improvement but, if more and more banks and lenders are refusing to lend or give mortgages on properties with spray foam insulation then it may prove to be more and more difficult to sell your property or to re-mortgage in the future.

In the long-term, this may cause the value of your property to decrease as there could be a situation where there is a lack of available funding to a possible buyer unless the property undergoes an expensive roof replacement being needed which will be at the cost of the owners either directly or through the agreed purchase price of the sale.

Polyurethane, the most common type of spray foam insulation, was developed in the 1940s and used primarily on airplanes. It wasn’t until the 1970s that it started to be used as foam insulation.