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Buying a Neglected House in London: What You Need to Know

Where the bargains are, and where the risks hide.

Buying a Neglected House in London: What You Need to Know Property Renovation & Refurbishment

Updated October 2026 · Fraser Bond

Renovation · London

Buying a neglected house

Auctions& probate
Surveystructural
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In short: Neglected houses in London come up through auctions, probate sales, repossessions and owners who can't maintain them. They can offer value, but check for structural problems, damp, roof and drainage issues, Japanese knotweed and planning or listed restrictions. Many aren't mortgageable until repaired, so buyers use cash or bridging finance. Homes empty for two years or more can qualify for a reduced 5% VAT rate on renovation work. Fraser Bond can value before and after works and sell or let the finished home.
Renovation profit
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Add a contingency of 10–20% for works.

Frequently asked questions

Can I get a mortgage on a derelict house?

Often not until it's habitable.

Is there VAT relief?

A 5% rate can apply to homes empty for 2+ years.

Need a before-and-after valuation?

Talk to our team or get a free valuation.

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