York man in spray foam loft insulation mortgage battle
Alan Mearns, 67, has lived at his residence, a three-bed 1950’s semi-detached home in Sledmere Crossing, Dunnington in York since 2006 and is mortgage free.
In May final yr he determined he needed to maneuver to a smaller property and he and his spouse Jane, determined they needed to get a purchase to let mortgage on the property, so their daughter Alana might transfer in and get onto the property ladder. And that is when Alan says the issues began.
“A mortgage broker was engaged to assist in this process. A survey was arranged on my property and was refused on the basis that spray foam insulation was present in the loft space,” stated Alan.
Alan stated that he had had the spray foam loft insulation professionally fitted in 2021 in a bid to make his home greener and cut back vitality payments.
He stated: “Ever since I’ve been going spherical in circles attempting to determine the reasoning behind their stance.
“I’ve spoken to the installer and had a publish instalment survey accomplished by them and was assured all was as much as normal. This data was handed to the lenders, however made no distinction to the refusal.
“I then contacted the producer and so they guarantee me that every one is as much as specification.
“My subsequent port of name was the Property Care Association, whose opinion was that surveyors throughout the nation couldn’t agree on greatest apply collectively, and will provide no manner ahead aside from suggesting removing.
“This supplied no actual treatment as folks concerned in removing, apparently have rendered some properties nonetheless unmortgageable.
“The complete business wants tighter regulation and conformity to a recognised and accepted normal for lending functions.
“At the moment everyone seems to be sitting on the corporate fence, one party blaming the other, and fearing to risk their professional integrity lest they be held accountable in the future.”
Alan Mearns with the spray foam insulation in his loft area at his residence in Dunnington, York (Image: Supplied)
The Government says that, as a result of issues over condensation, spray foam insulation may cause issues when individuals are shopping for or promoting a property.
According to the Royal Institution of Chartered Surveyors, if a surveyor encounters spray foam insulation throughout their inspection, they could cut back the worth of the property or request an impartial specialist report. In some circumstances, spray foam insulation might even render a property un-mortgageable in the eyes of a lender.
Read extra tales right here:
The spray foam business is presently working with lenders and valuers to attempt to resolve this subject, however that’s scant comfort for folks in Alan’s place.
“It’s abysmal what my spouse and daughter are being put via because of this and they’re completely distraught.
“I was a paramedic for 25 years in the ambulance service, trying to help people, and if I’d have behaved like this I’d have been out on my backside. It’s just unreal the situation we have been left in.”