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Nationwide mortgages warning for homes with spray foam insulation 

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UK’s biggest building society warns it may reject mortgage applications on homes with spray foam insulation

Britain’s biggest building society has warned it could reject mortgage applications on homes that have spray foam insulation.

Nationwide says it will require ‘documentary evidence’ that the insulation has been correctly installed.

As many as 250,000 homes have spray foam insulation in lofts, walls and floors to reduce heat escaping from their property and cut bills. 

Mortgage risk: Nationwide says it will require ‘documentary evidence’ that spray foam insulation has been correctly installed

But Money Mail warned earlier this month that cowboy firms were putting in the wrong type of insulation or failing to check whether it was suitable — storing up potential problems with future borrowing against the property.

Rob Stevens, Nationwide’s head of property risk, says incorrect installation could pose a structural risk to houses and cause costly repair bills.

‘Where a [mortgage] valuer sees evidence of spray foam, we will require documentary evidence it has been installed correctly before we will lend,’ he says.

The spray foam industry is unregulated. If the insulation is not installed correctly, the foam may not provide the right ventilation, which could cause roof timbers to rot.

Spray foam was offered as part of the Government’s Green Homes Grant, which was withdrawn in March 2021.

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