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Property Care Association - Spray Foam Guidance

Journalist: Jane Matthews, FTAdviser

ended 15. March 2023

Hi newspagers!

Trade organisation, Property Care Association has released this week an Inspection Protocol for building professionals who are asked to consider spray polyurethane foam insulation. The protocol has been designed with input from surveying institutions, lenders, surveyors, legislators, and product certification bodies - however, no lender has publicly put their name to it yet and the PCA has refused to say what lenders have been involved. 

PCA's chief executive has said he hopes this is the beginning of a change in how lenders deal with remortgaging and lending on properties with spray foam. 

Full document here: https://www.property-care.org/resources/spray-foam-insulation-inspections

Further background from FTAdviser on use of spray foam here: https://www.ftadviser.com/property/2022/12/13/advisers-issue-mortgage-warning-against-use-of-spray-foam-insulation/ 

Eager to hear your thoughts - will it change how you advise on properties with spray foam? 

I'm on deadline for 11.30am if you can come back to me by then. 

Many thanks, 
Jane 

2 responses from the Newspage community

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Scott Taylor-Barr
Principal Adviser at Barnsdale Financial Management
As mortgage advisers, our issue is finding lenders that are happy with this type of insulation, as many seem not to be, rather than having an opinion ourselves on if spray foam is a good idea or not in itself. The mortgage issue is bigger than the immediate "is my current lender OK with it" question; what if you want to remortgage at a future date - will you struggle to access the best deals because those lenders won't accept the spray foam? Or what about if you want to sell the property in the future - will buyers be put off, or will they struggle to get a competitive mortgage on the property due to the foam? It's an issue that needs to be resolved as there is a huge drive for energy-efficient home improvements; so the manufacturers, installers, RICS and lenders do need to all sit-down and come up with a solution.
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Thomas Collier
Advising Director at Advantage Financial Solutions
I’m pleased that action is finally being taken when it comes to polyurethane foam. The foam has been a great frustration of mine as a broker, so often I have to say those dreaded four words that all brokers hate saying to their clients “Subject to Valuers Opinion”. It’s a shame that no lender has said they’ll follow the protocol. However, surely this is the beginning of the end to the uncertainty and opinion surrounding the impacts of spray foam insulation.