Lenders valuer is factually wrong. What can we do

originalmissy

I am trying to sell my house. Had an interested buyer a month or so ago, everything was going well.
The buyers lender sent their valuer in as is normal and expected. However, the valuer reported the presence of a steel frame, no problem,  but he also reported spray foam insulation. There is no spray foam insulation. I have lived in the house for 30 years and certainly haven't had that put in. When we bought the house, the lender queried the steel frame but was happy to lend any way.
My question is what do we do now?
The estate agent has told us that the house is now unmortgagable because of the spray foam issue and we would only be able to sell to cash buyers at a much reduced cost. 
I am going out of my mind now.
Has anyone got any ideas please.

theartfullodger

Understand you've not put any in.  But what proof do you have there wasn't any when you moved in? In your shoes I'd get a surveyor to go looking. (or evidence from your move-in survey)

How else would you know - or not know - it was factually wrong? 

user1977

Are you sure there is no spray foam insulation? It's an odd thing to declare in a survey if it's not there at all.

If it is a mistake then it isn't a problem, you just sell to someone whose surveyors don't make the same mistake.

dannim12345

If you are still in contact with the buyer could you ask them to query where it was / provide a photo?   Its usually in a loft but guess it could be elsewhere 

Section62

Steel frames are sometimes given a sprayed-on fire protection coating.  Is it possible you've got this, and the surveyor has mistaken it for insulation?

originalmissy

dannim12345 said:

If you are still in contact with the buyer could you ask them to query where it was / provide a photo?   Its usually in a loft but guess it could be elsewhere 

Id the valuer had looked in the loft he would've seen there wasn't any spray foam. No longer in contact with the buyer but apparently this was the valuation for the lenders, they don't give reports to the borrower or anyone else apparently.

originalmissy

Section62 said:

Steel frames are sometimes given a sprayed-on fire protection coating.  Is it possible you've got this, and the surveyor has mistaken it for insulation?

I'm not sure. The steel frame looks like it was painted red but I can't see how that would've been mistaken for foam.

originalmissy

user1977 said:

Are you sure there is no spray foam insulation? It's an odd thing to declare in a survey if it's not there at all.

If it is a mistake then it isn't a problem, you just sell to someone whose surveyors don't make the same mistake.

We bought the house over 30 years ago, was spray foam a thing then? I don't think so. Would it have not been picked up by our valuer/surveyor back then? They did pick up on the steel frame, but as I said thats not an issue.

user1977

originalmissy said:

user1977 said:

Are you sure there is no spray foam insulation? It's an odd thing to declare in a survey if it's not there at all.

If it is a mistake then it isn't a problem, you just sell to someone whose surveyors don't make the same mistake.

We bought the house over 30 years ago, was spray foam a thing then? I don't think so. Would it have not been picked up by our valuer/surveyor back then?

I would guess it would have been less likely to have been picked up on by the surveyor as being a particular problem.

bobster2

The spray foam insulation that is often seen as a problem - is the type sprayed on the underside of the roof. Sometimes it can restrict airflow and cause problems with condensation / damp.

Have you definitely not got anything oin the underside of your roof?

Section62

originalmissy said:

user1977 said:

Are you sure there is no spray foam insulation? It's an odd thing to declare in a survey if it's not there at all.

If it is a mistake then it isn't a problem, you just sell to someone whose surveyors don't make the same mistake.

We bought the house over 30 years ago, was spray foam a thing then? I don't think so. Would it have not been picked up by our valuer/surveyor back then? They did pick up on the steel frame, but as I said thats not an issue.

It was around in the 1970's, although more in commercial/agricultural settings.  Domestic use started to become more common later than that, but it doesn't mean a domestic property couldn't have been sprayed in the 1980's.

If the steelwork is red then it is more likely to be red oxide paint rather than a spray coating, but no guarantee.