HomeOwners Alliance’s Post

Mortgage Lenders Reject Homes with Spray Foam Insulation A BBC News report published today highlights that some mortgage lenders are declining applications for properties fitted with spray foam insulation in loft spaces. The risks associated with spray foam insulation have been extensively reported in the past. In late 2022, Nationwide Building Society warned of the "inherent risk of causing damage to the roof structure, which can lead to costly repair bills and the need for the spray foam to be removed" see https://lnkd.in/gg6iWX2w In early February this year, MPs received a detailed constituency casework article on 'Spray foam insulation and mortgages'. This article raised awareness of recent media and industry reports suggesting some homeowners have found it difficult to remortgage properties with spray foam insulation see https://lnkd.in/gYjMfvH2 FYI - The House of Commons library constituency casework articles provide MPs with information to answer constituent queries, offering FAQs, short explainers, and in-depth briefings. They are freely available to the public and a good resource. Key points highlighted in the BBC article include: 1. Lenders' concerns stem from potential structural issues and difficulties in assessing installation quality. 2. Improper application of spray foam insulation can lead to moisture accumulation and timber decay. 3. This situation emphasises the need for thorough surveys and expert assessment of insulation methods. There is often a complex interplay between energy efficiency measures and long-term structural integrity, as seen with spray foam insulation and fire safety issues with insulated panels at Grenfell. It's crucial to balance energy efficiency goals with the preservation of building health and structural soundness to avoid solving one problem only to create another. The article estimates that as many as 250,000 homes in the UK have this type of insulation, with much of it installed under the previous government's Green Homes Grant scheme. As I am not a residential surveyor, I cannot gauge the scale of this issue. I would welcome thoughts from others who encounter foam during surveys and their experiences. Do all sales collapse, or are remedial works carried out? #surveying https://lnkd.in/gfZ7aXG4

Every 1-2 homes out of 10 homes will be given with defects....how can we accept this. Risky players building homes...If we know then why are they in the industry. Home Owners are just there to pay stamp duty, council rates, legal cost, GST, Personal taxes so any Risky Player can come with full license and walk away constructing homes and building with defects...If state Government can't provide assurance then why are you collecting anything related to home projects for these people. You are on your own. Government has no control. Take precautions and deal with honest and reputable businesses for your home. Someone sound too cheap for project then you know where they are heading.... #construction #homes #lending #mortgage #property #realestate #brokers #finaus #brokersarebetter #brokersworksforyou

Investing in non-standard construction properties means facing limited mortgage options 🏠 Lenders prefer the familiar, like brick or block constructions, offering more flexible terms for these. With non-standard types, lenders are cautious, often deciding based on the construction material and the builder's reputation. To find out more about this, head over to my YouTube channel via the link in bio or clicking the link below! https://bit.ly/469f5EY #PropertyInvestment #NonStandardConstruction #KevinWrightProperty

Wondering how the Section 24 changes could impact your rental property earnings? It restricts the tax relief on mortgage interest costs for landlords! 🏠 Need help navigating this? Visit our website for all the guidance you need. #PropertyManagement #LandlordTips 👉🏻trabalholtd.com

Why You Shouldn't Get Too 'Fixed' On 30-Year Mortgages Contact me to discuss the latest scoop in real estate! #mattparker #vancouvermortgagebroker #mortgagematt #vancouverrealestate #vancouverrealestateforsale #vancouver #vanre #vancouverhomes #realestatecanada

How much does it cost to buy this 3 bedroom £150k house in Glasgow, Scotland with a #BTL mortgage? 🏠 💰 In short you'll need £48,700 In Scotland the Additional dwelling tax (ADS) is 6% (compared to 4% in England). On top of that, investors need to pay an additional 2% in Land and Buildings Transaction Tax (LBTT) on properties over £145,000. You'll also have to budget for legal fees and mortgage broker fees. A property like this will rent between £1,300 and £1,500 per month, generating 12% rental yield. 💹 #propertysourcing #propertyinvesting #scotlandproperty #buytoletglasgow #buytoletinvestment

The Rise of Assumable Mortgages in Today's Housing Market Contact me to discuss the latest scoop in real estate! #thefaywayrealty

🏠 Top 5 Insane Benefits of Cottage House Mortgages Exposed! 🏠 Get the full details from Mortgage Rater here 👉 https://lnkd.in/gtFaDAt7 #MortgageRater #MortgageTips #HomeLoans #MortgageNews #FinanceTips #HomeBuying #InterestRates #MortgageBroker

Mark Harris and Howard Levy discuss the latest regarding the buy-to-let mortgage market and interest rates, in this article in This is Money. A great read for landlords and those operating in the rental property space. #buytolet #mortgagebroker #since1997

UK house prices continue to climb, with a 0.3% increase in September, bringing the average property value to £293,399. Annual growth is now at 4.7%, making it the strongest rise since 2022. Thinking about entering the market? Now’s a good time to explore your options! 🏠 DISCLAIMER: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST THE PROPERTY. PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBTS SECURED ON IT. #HousePrices #MortgageAdvice #UKHousingMarket #FirstTimeBuyer #HomeOwnership #PropertyInvestment #FinancialPlanning #InterestRates