The lender’s latest survey, conducted at the end of December and start of January, shows landlords are aware of the challenges facing the sector but are continuing to plan and adapt rather than retreat.

Almost half of respondents said they do not currently plan to buy or sell properties over the next 12 months, while around a third said they are planning to act and a significant proportion are still reviewing their options.

When asked whether the Budget would influence their plans, landlords were evenly split, with 44% saying they would buy or sell as a result and a further 44% saying it would not affect their decisions.

The remaining 12% said they were unsure.

Landbay’s survey indicates there are significant remortgaging opportunities for advisers and their clients.

More than a third of landlords said the rate on their most recent buy-to-let mortgage was above 5%.

Remortgaging from legacy deals onto the lower rates now available in the market could bring savings of many thousands of pounds, according to Landbay.

The survey also found strong ongoing support for advice, with around three-quarters of landlords saying they would use the same adviser again for their next mortgage.

Among landlords planning to restructure their portfolios, the majority said they expect to review ownership structures, potentially moving properties held in individual names into limited company vehicles.

Planned rent rises were typically limited, with most landlords expecting increases broadly in line with inflation or slightly above, reflecting uncertainty around future costs and compliance requirements.

More than a third of landlords said the rate on their most recent buy-to-let mortgage was above 5%, which Landbay said reflected borrowing secured during the peak of the recent rate cycle.

Landbay sales and distribution director Rob Stanton says: “The results of this new iteration of our survey show landlords are incredibly realistic about the current pressures in the sector, particularly around tax and regulation.

“But they are also actively engaged with the market and looking for ways to improve the performance of their portfolios.

“Landlords were clearly not enamoured of the Budget, but they are taking steps to mitigate measures which may increase their costs.

“Many plan to add to portfolios, shift ownership structures and raise rents in order to remain profitable.

“One of the key takeaways is how many landlords are carrying higher-rate mortgages arranged when pricing was less favourable.

“The good news is that over the past six months pricing has shifted considerably, and advisers are likely to be able to secure significant savings for borrowers coming up to remortgage.”