That isn't the same sort of foam either--that is foam rubber. Expanded polystyrene is the stuff they make disposable cups and plates out of--the white crumbly stuff. Extruded polystyrene is a similar material, but it is a solid chunk insted of the little white pebbly bits stuck together. It's better for model railroad layouts but the expanded type can be used in a pinch.
1/4" thick insulation? I should hope English insulation is thicker than that!--1/4" is about 6.35mm thick. And I have used foam rubber pads to sleep on, and a 1/4" thick foam rubber pad would be just about useless! Perhaps you're forgetting to carry the two or something when converting from metric to imperial measurement...
Moving back to the cork--you won't find that in DIY shops, only at model railroad hobby shops. I'm sure that Brits put *something* under their track, it's just a matter of checking out your local hobby shop and asking what they have in the way of roadbed (cork, or Woodland Scenics foam roadbed, which is closer to foam rubber, or whatever.)
You might also ask them about extruded foam and where to find it over there...they might know. Not sure why none of the folks on your side of the Atlantic have chimed in yet...