Green home grant spray foam loft insulation

maglong

I had the spray foam loft insulation installed under the green home grant it was carried out by a Goverment approved company 
I have just been informed by a financial advisor that my property is with £0 due to this spray foam insulation as no mortgage company will lend on a property with it 
how can the Goverment allow this under their green home grant I’m in shock anyone know anything about this

Spies

Seems the only solution would be to have it removed. 

QrizB

Welcome to the forum.

If your financial advisor told you your property is worth £0, and they did this in a professional capacity, the first thing you need is a new financial advisor.

Here's an independent review of spray foam insulation from Which?
https://www.which.co.uk/reviews/insulation/article/spray-foam-insulation-ajTlp7t5K7lT

It includes the following paragraph:

Will spray foam insulation increase or decrease my home value?

As a result of concerns over condensation, spray foam insulation can end up causing problems when you’re buying or selling a property.

According to the Royal Institution of Chartered Surveyors, if a surveyor encounters spray foam insulation during their inspection, they may reduce the value of the property or request an independent specialist report. In some cases, spray foam insulation may even render a property un-mortgageable in the eyes of a lender.

The spray foam industry is currently working with lenders and valuers to try and resolve this issue. The National Insulation Association recommends making sure your installer provides you with all the relevant paperwork (see below), as this should help in the event of a dispute with a valuer.

Did your installer provide all the relvant paperwork?

maglong

Yes the installer gave me paperwork I.e. guarantee etc and as this was a Goverment approved I did not think it would cause a problem

QrizB

maglong said:

Yes the installer gave me paperwork I.e. guarantee etc and as this was a Goverment approved I did not think it would cause a problem

In which case the problem is more likely to lie with your Financial Advisor, rather than the insulation.

Reed_Richards

The problem is that surveyors don't like spray foam insulation because it has been known to cause severe problems.  And they probably don't have the expertise to tell the difference between a good and a bad installation.  

white_dog

I have just discovered that I am in a similar position as the original poster, and that there are thousands more like us who received a government grant under the green homes scheme to get spray foam insulation done. I was sent a list of government approved insulators who had to be registered with them, and the application had to be approved by the government who paid for the work to be done.
I also need to apply for equity release but have been told that the insulation needs to be removed before I can be considered at a cost of several thousand pounds which I don't have. My interest only mortage ends next year and I am too old for it to be extended.
I am getting really worried.
Does anyone know of any campaigning groups or anywhere I and others can go to for help?

QrizB

white_dog said:

I also need to apply for equity release but have been told that the insulation needs to be removed before I can be considered

Been told by whom, exactly?

Hopefully not by the OP's financial advisor!

Reed_Richards

white_dog said:

I have just discovered that I am in a similar position as the original poster, and that there are thousands more like us who received a government grant under the green homes scheme to get spray foam insulation done. I was sent a list of government approved insulators who had to be registered with them, and the application had to be approved by the government who paid for the work to be done.
I also need to apply for equity release but have been told that the insulation needs to be removed before I can be considered at a cost of several thousand pounds which I don't have. My interest only mortage ends next year and I am too old for it to be extended.
I am getting really worried.
Does anyone know of any campaigning groups or anywhere I and others can go to for help?

On the plus side, your insulation was free and should have saved you money on your heating bills.  Even if you pay to have it removed, the heating bill saving might still leave you in profit overall, by comparison with doing nothing.  On the minus side, removing the insulation and not replacing it with, say, loft floor insulation will push your heating bills up.