Later life BTL: A maturing opportunity – Blewitt

However, the 2030 sustainability deadline and market forces driving landlords to be more entrepreneurial means landlord appetite for borrowing remains undimmed.

In Q1 2025 there were 58,347 new buy-to-let (BTL) loans advanced in the UK, worth £10.5bn, up 38.6% in number and 46.8% in value against Q1 2024. That suggests landlords are increasingly active in borrowing and refinancing and brokers should assume more clients will need flexibility around term length and age at repayment.

Research from Pegasus and the National Residential Landlords Association (NRLA) confirmed the average landlord is 63 years old and has been letting property for around 19 years. Landlords in later life are not a minority but the backbone of the sector. They dominate both in numbers and in experience, holding significant portions of the UK’s £1.58trn rental property wealth.

The business angle

The same research shows that landlords in their 60s and 70s are driving the market, while new entrants are fewer and younger investors are arriving only at the margins. This longevity demonstrates both resilience and commercial savvy. Landlords who have survived two decades of regulatory shifts, rate rises, tax reform, and changing tenant demands are not accidental players.

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These demographics also shape borrowing behaviour. Many landlords have been slower to switch to limited company structures, leaving them exposed to more restrictive affordability assessments. At the same time, older landlords are more likely to be refinancing or consolidating, drawing on portfolio equity to support retirement, pass on wealth, or manage new regulatory obligations.

Understanding this market

Lending criteria become critical at this point. Later life landlords need access to products that reflect their income patterns and age profile. Flexibility on maximum age limits at application or redemption, acceptance of pension, rental and investment income are all important. Even the ability to structure borrowing around intergenerational planning are all relevant to these clients.

Criteria that allows interest-only borrowing up to advanced ages, or repayment terms that run well past 70, make a material difference to how landlords manage their properties. Brokers who understand the lenders who can accommodate these needs are better placed to retain and grow relationships in this core market.

Refinancing for compliance

Landlords in later life are also facing new headwinds. The Renters’ Rights Bill introduces fresh obligations around tenancy management, while sustainability standards continue to rise on rental stock. Meeting these demands often requires capital, whether through refurbishment, retrofitting, or portfolio rebalancing.

Older landlords, with deep experience and stable rental income streams, are well-positioned to meet these challenges if the right finance is available. For brokers, that means pairing clients with lenders who are alive to the realities of the BTL market and who can look past outdated assumptions about age.

The opportunity

The ‘death of BTL’ has been lazily called too many times. Time and again, the sector regenerates. While the proportion of younger landlords is growing only slowly, their presence shows continuing appeal. Meanwhile, established landlords are operating with a sharper commercial eye, consolidating portfolios and adapting business models to meet higher professional standards.

Later life landlords represent a broker opportunity that is hiding in plain sight. This isn’t a niche. It is the market. These landlords are the dominant investor group, they are highly active, and they require tailored finance. Understanding which lenders can provide higher age limits, recognise diverse income streams, and support longer-term BTL strategies is crucial.

For brokers, the challenge and the opportunity are one in the same. Identify lenders who understand the reality of this market and provide the flexibility older landlords need – because as the sector continues to transform, later life BTL is only going to grow.