Significant Increase in Buy-to-Let Mortgage Refinancing Among UK Landlords

Research conducted by Paragon Bank has found that four in ten UK landlords, equivalent to 39%, intend to refinance their buy-to-let (BTL) mortgages or switch products during 2026. This marks a notable rise compared to five years ago when only 27% of landlords planned to remortgage or move to a new deal. The increase is largely attributed to a substantial volume of fixed-rate borrowing reaching the end of its term, particularly those five-year deals taken out during the surge in buy-to-let activity in 2021.

Portfolio Size Influences Refinancing Plans

The research highlights a clear correlation between the size of a landlord’s portfolio and their refinancing intentions. More than half (53%) of landlords holding four or more buy-to-let mortgages expect to refinance within the next year, compared to 27% of those with between one and three properties. This suggests that landlords with larger portfolios are more actively managing their mortgage arrangements, possibly to optimise borrowing costs or adjust to changing market conditions.

2026: A Key Year for Maturing Buy-to-Let Mortgages

Louisa Sedgwick, Managing Director of Mortgages at Paragon, commented on the findings: “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.” Sedgwick also noted that while many landlords plan to remortgage just one property, a significant number will be refinancing multiple homes.

Volume of Fixed-Rate Mortgages Coming to Term

Industry data indicates that £49.7 billion worth of fixed-rate buy-to-let mortgages are due to mature in the 12 months leading up to November 2026. This reflects the popularity of five-year fixed-rate deals taken out during the 2021 market surge, which was fuelled by the Stamp Duty holiday and strong demand for buy-to-let properties. The large volume of maturing fixed-rate mortgages is a key driver behind the increased refinancing activity expected in the sector.

Refinancing Patterns and Ownership Structures

The survey of over 800 landlords found that on average, landlords expect to refinance 2.2 properties each. Nearly half (46%) plan to refinance a single property, while 31% expect to refinance two. At the higher end, 6% anticipate arranging new borrowing for five or more properties. Most refinancing is expected to occur in landlords’ personal names, with 78% of properties being refinanced this way, compared to 19% held within limited companies. This suggests that personal ownership remains the dominant structure for buy-to-let refinancing despite the growing use of limited companies in the sector.

Implications for UK Landlords

For landlords, the anticipated wave of refinancing in 2026 presents both opportunities and challenges. With many fixed-rate deals maturing, landlords will need to carefully assess the mortgage market to secure competitive rates and terms that suit their investment strategies. Those with multiple properties may benefit from reviewing their entire portfolio’s financing to optimise costs and cash flow. Additionally, the predominance of refinancing in personal names indicates that many landlords may continue to operate outside limited company structures, which could have tax and regulatory implications to consider.

Looking Ahead

The increase in refinancing activity reflects the ongoing evolution of the buy-to-let market following the 2021 boom. Landlords and letting agents should prepare for a busy mortgage market in 2026 as many seek to renegotiate or switch their mortgage products. Staying informed about market trends and mortgage options will be essential for effective portfolio management in the coming year.

Suggested internal link anchors

• buy to let mortgages
• mortgage refinancing
• fixed-rate mortgages
• buy to let portfolio management
• limited company buy to let
• Stamp Duty holiday
• mortgage product switching
• landlord mortgage options
• property investment strategies
• mortgage market trends

TLA update

TLA is launching a new Trusted Partners Hub in Q1 2026, featuring verified and approved service providers selected to support landlords, tenants, and property management businesses. We are inviting legal, trades, insurance, financial, mortgage, tenant screening, and other service providers to register their interest here: https://landlordassociation.org.uk/become-a-tla-service-partner/