Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

LiveMore Launches Remortgage and Equity Release Solution for Spray Foam Homes

Specialist lender LiveMore has introduced a new product enabling borrowers to remortgage or release equity from homes affected by spray foam insulation. The product includes professional removal of spray foam as part of the process, with no upfront cost to the customer.

According to LiveMore, around 250,000 homes have been impacted by spray foam insulation, which was originally installed under the government’s Green Homes Grant. The insulation has made many properties difficult to sell or remortgage due to concerns about poor installation, roof damage, and long-term structural risks.

LiveMore reports that some homeowners have attempted to remove the spray foam themselves or have used unregulated contractors, while others have been unable to move due to financial or personal circumstances. The new product, developed in partnership with Verified Building Services (VBS), ensures that spray foam is removed by vetted tradespeople. Properties are valued on the basis that the spray foam has already been removed, allowing lending decisions to proceed.

This development is relevant for UK letting agents and inventory clerks managing properties affected by spray foam insulation, as it may provide a route for homeowners to access mortgage products and facilitate property transactions that were previously stalled.