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Homes insulation hitting sales

 
Created on 27/02/2015 @ 10:10
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Some homes in Mid Wales are failing to be sold because of a problem with retro-fitted insulation, one of the region’s property surveyors and estates agents has warned.

Over the past year several mortgage lenders have told home buyers they will not lend money on some properties because of problems associated with such cavity wall insulation, according to Neville Roberts, a property surveyor at Morris, Marshall and Poole.

He said the push to have energy efficient homes, including government grant support, had seen a rise in retro-fitted cavity wall insulation in properties in the area, but not all were suitable for such work.

“It is worrying. I’ve been involved in two property sales where potential purchasers have undertaken a survey and their mortgage lenders have basically said we won’t lend you the 

money,” said Mr Roberts.

“The problem is that some homes, steel framed and certain timber framed properties, cannot have such insulation installed.

“Problems such as condensation and damp can be caused with potentially long-term damage and mortgage firms just won’t lend as a result. Both the sales I was involved in fell through as a result.”

He said homeowners were right to ensure their homes were as energy efficient as possible to save money on bills, but it could be at the cost of selling their home in the future of 

having structural damage.

“One of the properties had to have the insulation removed. It was wet and causing dampness on the inside walls,” he said.

Homeowners are being urged to ensure their properties can have retro-fitted insulation and ensure they take advice from specialists or reputable installers before proceeding.

“It’s worrying that many people and some contractors are going ahead with such work unaware of the problems they could be creating.”

Morris, Marshall and Poole, which has offices throughout Mid Wales and Shropshire can help homeowners considering selling their property and undertake surveys which would include assessing the state of retro-fitted cavity wall insulation.

More details can be found at www.morrismarshall.co.uk.
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