The report ‘Assessing the future heating and cooling needs of the UK housing stock’ stated that the UK built environment faced a series of challenges, including rising summertime temperatures due to climate change, with indoor overheating being a biproduct of this.

With efforts to reach net-zero targets, the UK also faces the challenges of driving down fuel consumption.

Energy efficiency measure such as internal solid wall insulation and increased building airtightness may save on energy to prevent cold homes, but these measures could also prevent heat from escaping, exacerbating homes overheating without sufficient cooling strategies.

The impact of overheating has already been felt once. In July 2022, England saw its highest-ever recorded temperature, registering at 40.3 °c, prompting the first-ever level four heat health alert.

According to the report, the older population and those living with underlying co-morbidities were the most vulnerable to heat- and cold-related health effects.

Members of the specialist finance sector have given their take on how the bridging market can help retrofit UK housing stock to keep homes cool in the summer months.

Karen Rodrigues, chief sales officer at Market Financial Solutions, commented: “The effects of climate change become more obvious with each passing year, so it’s encouraging that the government has recognised the need to adapt the UK’s housing stock to keep pace with rising summertime temperatures.”

However, Karen felt that retrofits such as improving ventilation and installing shutters could be a costly challenge for landlords, who may not have the capital available for upgrades.

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“The bridging sector can play a vital role in providing the financial support needed to tackle overheating issues in a landlord’s property or portfolio,” she stated.

“From refurbishment to second-charge bridging loans, there are a range of flexible financial solutions available to help landlords fund essential upgrades without disrupting their long-term investment strategies.

“It’s crucial that the industry steps up to support landlords in making these improvements, ensuring that the UK’s housing stock adapts to the effects of climate change.”

Tanya Elmaz, director of intermediary sales at Together, agreed that bridging finance was an excellent tool for landlords to utilise when raising EPC ratings and bringing down heating costs.

“We already know massive amounts of energy are used each year to heat UK homes and businesses and, this not only adds unnecessary cost to utility bills, but also harmful carbon emissions into the environment,” she continued.

Tanya emphasised that funding these upgrades was not only an issue for the general public, but also for landlords, who may be feeling added pressure on profitability due to economic challenges and government announcements, which could make spending large amounts of capital to make improvements at short notice off-putting.

“In order to move fast on the renovations and begin reaping the rewards of energy efficiency, property owners can utilise the speed of bridging finance to take on their renovation project quickly,” she said.

“They can use the term of the loan, usually 12 months, to address their financial situation, with an arranged payment plan to suit their financial situation.”