Spray Foam Installation Breakthrough

10 July 2023

K Moneyman, a leading provider of holistic mortgage advisory services, is pleased to expand its offerings to include specialised equity release advice for customers who have installed spray foam insulation in their homes.

Many older clients took advantage of government incentives to improve the energy efficiency of their homes to help with the rising cost of living. Some approved contractors used spray foam insulation as a legitimate, approved technique. Sadly, this has proved unacceptable to many lenders and frustratingly all lifetime mortgage lenders until now.

UK Moneyman is working alongside one of the newer lenders in the market, LiveMore Mortgages, to offer their Property+ lifetime mortgage. This product provides the ability for clients with spray foam insulation to take equity release before any spray foam insulation is removed (the client will need to have had a quote to remove the spray foam when they apply and undertake to have the spray foam removed within 90 days of the mortgage completing).

Their underwriting innovation doesn’t stop at considering properties with spray foam insulation, LiveMore has a solid reputation for considering, and actually lending on, unusual construction types, properties in flood zones, and those in proximity to commercial premises. They apply their common-sense approach to lifetime mortgages (equity release) and specialist interest-only mortgages for the over 50s.

UK Moneyman is happy to discuss any complicated later-life mortgage cases via their introducer referral scheme.

Dan Osman
Head of Later Life Lending
UK Moneyman Limited