'Spray foam insulation ruined our house sale'
Published On Dec 4, 2024, 7:36 PM
Homeowners in the UK are feeling betrayed after struggles to sell their homes due to issues with spray foam insulation installed under the Green Homes Grant scheme. Some mortgage lenders have stopped accepting properties with this insulation for fears of it causing structural issues. This could affect around 250,000 homes and raises concerns about insulation quality and homeowner accountability. Calls for government action are growing as affected homeowners, facing potential costs to remove the insulation, feel misled.
Stock Forecasts
ITB
Negative
The increasing concerns regarding spray foam insulation and mortgage acceptance could dampen sentiment in the UK housing market, particularly for affected homes. Companies involved in insulation, housing construction, or real estate could face negative sentiment as potential buyers may be wary of homes with such features. Additionally, if the government steps in to rectify the situation, it may lead to increased regulation in the construction space, impacting associated companies' profitability.
Related News
Mortgage rates climb again, hurting demand further
Nov 7, 2024, 12:02 PM
Mortgage rates rose for the sixth straight week with the 30-year fixed rate average hitting 6.79%, as purchase demand continues to weaken in the stagnant housing market.
Fed Interest Rates Decision: Live Updates
Nov 7, 2024, 12:02 PM
Federal Reserve officials are widely expected to cut rates by a quarter point, as uncertainty about a second Trump presidency looms large.
How Trump's win could impact the housing market
Nov 7, 2024, 6:00 AM
A report from Realtor.com says President-elect Donald Trump's agenda includes policies that could have both positive and negative impacts on the housing market.