The Intermediary – September 2026 - Flipbook - Page 35
BUY-TO-LET
In focus
Could this ease the
housing shortage?
F
ew would argue that the
country has a housing
shortage. Demand for
housing continues to
outstrip supply, while
ambitious housebuilding
targets remain difficult to achieve.
In fact, total construction output
is estimated to have fallen by 0.5%
in the three months to July 2026,
according to the Office for National
Statistics (ONS).
While new-build development
remains sluggish, it’s worth bearing in
mind there’s another opportunity that
deserves greater aention – bringing
empty and currently uninhabitable
properties back into use.
Hidden opportunity
Across England, hundreds of
thousands of homes are siing vacant.
According to official Government
let (BTL) lending, like that offered
here at CHL Mortgages, can make a
meaningful difference.
Not every property requires
extensive redevelopment. In many
cases, relatively modest improvements
can transform an unhabitable
property into a safe, comfortable
home. A replacement boiler, improved
lo insulation, upgraded glazing or a
handful of energy-efficiency measures
can be enough to make a property
suitable for occupation once again.
Of course, some properties require
more substantial investment. Full
rewires, structural repairs and
comprehensive modernisation
projects all have a role to play in
returning long-neglected housing
stock to the market.
Yet whether the refurbishment
is minor or major, the outcome is
the same – increasing the number
Not short on potential: 540,000 properties sit empty, even as demand outstrips supply
statistics, there were more than
540,000 properties recorded as empty
for the purposes of Council Tax as of
September 2025, up by 40,000 from
the previous year.
At a time when families are
struggling to find appropriate
accommodation, these properties
represent an untapped resource hiding
in plain sight.
Small changes, big impact
This is where refurbishment buy-to-
of homes available without laying a
single new brick.
Unlocking supply
For landlords, refurbishment projects
can provide an opportunity to add
value while improving the quality and
energy efficiency of housing stock.
For local communities, bringing
boarded-up or neglected properties
back into use can help reduce blight,
support regeneration and improve
neighbourhood appeal.
ROGER MORRIS
is group distribution director
at CHL Mortgages
Most importantly, this creates
additional homes for people who
need them.
However, unlocking this potential
requires access to the right funding.
This is where refurbishment
buy-to-let finance can play a
critical role. Traditional buy-to-let
mortgages are oen unavailable for
properties that fall short of habitable
standards, creating a challenge for
investors looking to purchase and
improve them.
Refurbishment buy-to-let products
fill in that gap, providing landlords
with a practical route to acquire,
enhance and refinance properties that
may otherwise remain empty.
By combining purchase
and improvement strategies,
refurbishment buy-to-let enables
investors to transform properties
while potentially increasing both
rental income and capital value. This
not only helps landlords strengthen
and diversify their portfolios, but can
also support the wider housing market
by returning neglected homes to
productive use more quickly.
The UK’s housing crisis won’t be
solved by a single initiative. Newbuild homes, planning reform and
infrastructure investment all have a
role to play. But if we’re serious about
increasing housing supply in both the
short- and medium-term, we must
also make beer use of the homes that
already exist.
Bringing empty and uninhabitable
properties back into circulation won’t
solve the problem overnight. However,
turning neglected houses into
quality homes is one of the quickest
and most practical ways to increase
available housing stock. In the current
environment, that’s an opportunity
the market cannot afford to ignore. ●
September 2026 | The Intermediary
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