Insight from Paragon covering the Q4 period found that 53% of landlords with four or more BTL properties expected to remortgage or switch to a new deal with their existing lender, compared to 27% among those with 1-3 properties.
The share of landlords planning to refinance has slowly risen, as just 27% of investors said they planned to refinance during the same period in 2020.
According to UK Finance, £49.7bn worth of fixed rate BTL mortgages will mature in the 12 months to November, primarily due to the high number of five-year fixes secured in 2021.
The survey of more than 800 landlords, conducted by Pegasus Insight on behalf of Paragon, showed that borrowers planned to refinance 2.2 properties each on average.
Some 46% intend to refinance just one property, and 31% expect to refinance two homes.
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A smaller share – 6% – expect to refinance at least five properties.
The majority will secure a new mortgage in their personal name, accounting for 78% of respondents, while 19% will do so through a limited company.
Louisa Sedgwick, managing director of mortgages at Paragon Bank, said: “The research highlights how 2026 will be another big year for maturing mortgages, with remortgaging and product switches driving buy-to-let business. This is driven by the buoyant market from 2021, when the stamp duty holiday led to the strongest market for buy-to-let house purchase on record. Much of that business was written on five-year fixed rate mortgages.
“While many landlords plan on remortgaging just one property, we do see that plenty of others may have more. This shows the benefit of working with landlords and reviewing their portfolios and future plans. Not only does it build new or strengthen existing relationships with clients who will no doubt appreciate the support, it also helps to secure new business.”
She added: “Our separate analysis of industry data highlighted how landlords are often withdrawing equity to expand their portfolios or invest in those they already own. With rates coming down and demand remaining robust, purchases look more attractive. Additionally, some landlords may draw down funds to enhance the properties across their portfolios to ensure they’re compliant with the forthcoming Renters’ Rights Act and Minimum Energy Efficiency Standards regulations.”
