It is hardly surprising in a climate in which homeowners are continually being advised about the urgency of taking green measures in their properties that insulation should be high up on their list of priorities.

And the arguments for taking sensible steps are difficult to ignore. More than 50% of all energy produced by humanity is lost as heat and by reducing the amount of waste heat going into the environment, we can save money and improve sustainability.

But there are ways of making improvements, and one of the most promoted at the moment – especially as we suffer another miserable winter – is spray foam insulation for roofs.

A quick Google or Facebook search will throw up countless companies offering this method as a quick and easy solution to heat loss in the home. Many others try to attract customers by the dubious methods of cold calling.

The simple advice for homeowners if they find themselves considering spray foam insulation as the answer to their energy efficiency problems: Don’t.

Installing spray foam within a property’s roof void significantly reduces airflow in and out, trapping moisture and increasing the risk of condensation. Most roofs in Scotland are constructed with timber. Timber and elevated moisture levels will lead to decay over a period of time.

This poses a risk to the structural integrity of the roof, considerably reducing the life expectancy of the roof structure.  Furthermore, the presence of spray foam conceals the roof timbers from view, meaning such defects could go un-noticed before the extent of the problem is realised leading to costly remedial repair works.

It is an unregulated field with installers either not aware of the consequences of such products or they are out on what can only be described as a ‘get rich quick scheme’, charging thousands of pounds to install these products which they will have no obligation to rectify at a later date, if, that is, they can be located or contacted afterwards.

One of the arguments used to persuade people to sign up for a course of treatment is that there is moisture in the roof space. Even if this is so, the solution to moisture within a roof void is often not insulation but improved ventilation.

That is why the traditional method of dealing with roof spaces is to install the insulation on at ceiling joist level and have gaps in the eaves and/or ridge to allow air to circulate throughout the space.

Furthermore, the majority of mortgage lenders will refuse or restrict lending where spray foam insulation has been installed, significantly reducing the property’s value where it is deemed not suitable for mortgage purposes.

It is not unknown for people who have spent, say, £5,000 on having their roof sprayed to subsequently have to shell out £25,000 -£30,000 for a new roof in order to make their property mortgageable again.

On top of that, the process itself is often coarse and messy. There are instances where unsuitable contractors have covered the entire space in foam – including the suitcases and Christmas decoration boxes stored in the attic.

Beware of cold callers offering such products. If it sounds too good to be true, often this is exactly the case. Before carrying out any home improvement involving new or seemingly innovative products, consult a professional for advice.

Housebuilder Stonebond is offering savvy buyers across its impressive portfolio of residential developments with an opportunity to secure a new home with a fixed rate mortgage of 2% for two years*. 

The Stonebond Mortgage Cap works in a simple way; when the interest rate for purchaser’s new mortgage is over 2%, Stonebond will cover the remainder of their monthly interest payment.*. The total extra cost will then be calculated for the duration of the two-year period, which will then be paid by way of an allowance on completion. The value of the incentive will also be determined by individual circumstances and lender criteria.

Annette Cole, Sales & Marketing Director at Stonebond comments: “The Stonebond Mortgage Cap is available to help customers purchase their dream home at one of our stunning new developments in Cambridgeshire, Essex and Bedfordshire.  By providing a fixed rate mortgage of 2%, we are confident that buyers will have the peace of mind to make the important decision to take a step onto the property ladder for the first time, or either upsize and downsize to their ideal home.”

Duane Savage at Country Properties said: “Although it’s great to see that the market has been busy since the New Year, purchasers are still cautious. The Stonebond Mortgage Cap incentive provides them with an unmissable opportunity, offering customers the security and peace of mind they are so keenly looking for, the incentive also makes the first two years of living in their new home much more affordable.”

What’s more, Andrew Mannion, Group New Build Development Director at Mortgages First & RSC New Homes, explains why now is an ideal time to purchase a new home, despite varying market conditions: “The tide appears to be turning in from a mortgage perspective. Inflation is easing and the markets are pointing towards base rate reductions in second half of 2024. This in turn provides the markets with confidence, which has resulted in the first sub 4% mortgage product since the mini budget of October 2022.”

He continues: “Mortgage lenders are keen to lend, we have seen some great improvements to lending criteria and affordability over the last few months, since interest rates have started to fall. There has never been a better time since October 2022 to look to obtain a mortgage!”

Properties to purchase with Stonebond

Stonebond’s Wintringham development in St Neots is one location that comprises a range of three and four- bedroom, energy-efficient homes.  It is surrounded by the rolling greenery of the Cambridgeshire countryside and sits just 17 miles from Cambridge.

At Woodbanks in Takeley, near Bishop’s Stortford, 11 acres of open green space are home to high-specification three bedroom bungalows and four bedroom homes designed for modern living. The carefully considered internal flow of the homes deliver flexible spaces that work seamlessly for enjoying family time, entertaining, working from home and more.

An hour away from Woodbanks, The Appleyard in Flitton has three, four and five bedroom houses with many ready to move into. The attractive rural village setting is just 18 miles from Milton Keynes, 15 miles from Bedford and 11 miles from Luton. Surrounded by beautiful countryside, the Georgian-inspired properties blend country life with modern living.

A beautiful and preserved woodland sets the scene for the final development. Arranged in mews and terraced styles, along with detached homes that overlook open green spaces, the homes at Waterbeach connect residents with nature in a special, ecologically enriched environment. Final few two bedrooms apartments remain, while houses offer either three or four bedrooms -all ready to move into this summer. The properties showcase Stonebond’s commitment to blending sustainability with stylish interiors.

Property & Construction sector Spring Budget predictions from Menzies LLP,
one of UK’s leading accountancy and strategic advisory firms

Chancellor Jeremy Hunt will set out the Government budget to Parliament on Wednesday, 6 March. With the General Elections drawing close, it’s expected that the upcoming changes will focus more on individuals, rather than to businesses and corporates, to sway voters in the Conservative party’s favour.

Given the pressing needs of businesses, prioritising tax cuts should be crucial. But it’s also important that the Government take a balanced approach, given the limited scope for further cuts particularly in light of mounting government debt.

Rebecca Wilkinson, Tax Director and Property & Construction sector Specialist at Menzies LLP, has outlined her top wishlist items and predictions for the announcement next month.

Menzies’ predictions and wishlist for the Property & Construction sector

As we have seen in the news recently, the number of insolvencies in the construction sector is increasing significantly and the housebuilding sub-sector is the worst hit. This is due to the weak demand for new homes, which is caused by higher interest rates and the general cost of living crisis. The Help to Buy scheme ended in 2023 and I would like to see the scheme either extended or re-imagined with a view to providing stimulus in the housing market.

Home improvement projects are also stalling. A possible way of increasing demand could be to offer incentives to home-owners and landlords who spend money on improving the energy efficiency of residential properties, or offering enhanced cap al allowances to businesses that spend money on green technologies.

In the residential rental sector, there is an increase in the number of private landlords suffering rent arrears as lower income tenants struggle to pay rents. Many landlords are also paying higher interest charges and the combined result is an increasing number of landlords in arrears on their mortgages, forcing many to sell up. A decreasing stock of private rental housing could be disastrous for low-income families as there is also a lack of available social housing. I would like to see the Government reconsider the punitive tax rules which restrict the amount of tax relief that individual landlords can claim on their interest costs.

Overall, it will be helpful to see if there is a strategy in place to stimulate the property market.  We would also like to see another Stamp Duty holiday, or the stamp duty surcharge scrapped. We also know the Capital Gain Tax (CGT) allowance is due to be reduced from £6,000 to £3,000 in April 2024 so this could be delayed or scrapped.

For more information about Menzies LLP, visit www.menzies.co.uk.

Surrey house-hunters set on securing a new home in 2024 are invited to join Elivia Homes on Saturday 27^th January, for an exclusive preview of four luxury houses currently under construction at Paddock View, Lower Kingswood. With viewing slots available by appointment only, guests will be able to don their muddy boots and hard hats before touring the site and speaking with Elivia’s knowledgeable Sales Agents.

Aimed at giving prospective purchasers their first glimpse into the properties that will be available at Paddock View, the ‘Muddy Boot’ event will run between 10.30am and 4.30pm. Elivia Homes will provide all guests with a pair of site safety boots and a hard hat before going out onto site to tour two of the homes that are currently being built – Breton House and Waterford House. Testament to the stunning offering at Paddock View, both Furlong House and Chilvers House have already been sold off plan.

Philip Brown, Sales and Marketing Director at Elivia Homes, comments: “At Elivia we love to involve our customers in the building process of our homes where possible. Viewing a home at this stage is a unique experience that helps prospective purchasers get a feel for how their future home has been built. These events are often the perfect opportunity to get a feel for the local lifestyle too, and with ample countryside and lots of quaint villages surrounding the site – there’s plenty of places to explore on the day!”

Nestled at the end of a cul-de-sac, Paddock View is a boutique collection of just four 4 and 5 bedroom barn-style homes. Each property has a south westerly -facing garden that overlooks rolling fields, and each will benefit from an exceptional specification including double-height glass frontages, air source heat pumps and a predicted energy assessment (PEA) of B.

Throughout the event, the team from Kennedy’s IPA Estate Agents will be on hand to answer any questions, from queries about buying one of the homes, to questions regarding the building process itself. There will also be brochures and CGIs available to view for each plot type, helping prospective purchasers visualise the final product.

Set on the site of a former equestrian centre, Paddock View is well-placed for lovers of the outdoors. With an abundance of footpaths and bridleways to explore on the doorstep, residents can immerse themselves in this rural haven by foot, bicycle, or horseback. Part of the National Trust, Reigate Hill and Gatton Park are both just a short drive away. Keen golfers will be in their element, with access to some of the countries’ best 18-hole courses such as Wentworth, Kingswood Golf and Country Club and Walton Heath Golf Club all close by.

For everyday amenities, nearby Tadworth village provides a selection of retailers, cafes, bakers, and independent shops. The neighbouring towns of Reigate and Banstead are perfect for a bit of weekend retail therapy, hosting stores including Oliver Bonas, Jojo Maman Bebe and Waitrose.

Families will be well placed at Paddock View with a selection of fantastic educational facilities to choose from. Kingswood Primary School is a small village primary school located near the development, whilst St Bede’s Secondary School is 3.3 miles away and rated ‘Outstanding’ by Ofsted.

For commuters, Kingswood station is a short drive away and offers trains to London Bridge in 51 minutes, whilst trains from nearby Tadworth connect commuters to London Bridge in 50 minutes. Epsom mainline offers services to Waterloo in 36 minutes, and frequent bus services also provide numerous routes around Lower Kingswood and East Surrey. For international travel, residents will be on the doorstep of the M25, where Gatwick Airport can be reached in just 15-minutes.

To attend the Muddy Boot event on 27^th January, please register your attendance with the sales team on 01737 400337. Prices at Paddock View start from £1,795,000. For more information, please visit www.eliviahomes.co.uk.