Almost four in 10 landlords plan to refinance buy-to-let (BTL) property during the next 12 months, Paragon Bank reveals.
The research, which covers the fourth quarter of 2025, found that 39% intend to refinance throughout 2026.
Over half (53%) of those with four or more BTL mortgages anticipate either remortgaging or switching to a new product with their existing lender, falling to 27% of those with between one and three properties.
The data shows that refinancing has steadily increased over time, with the same quarter in 2020 seeing an average of 27% of landlords planning to either remortgage with another lender or secure a product switch with their existing.
Industry data shows that £49.7bn worth of fixed-rate BTL mortgages are set to mature in the 12 months to November, predominantly fuelled by the high number of five-year fixed-rate mortgages taken out during a bumper year for the BTL market in 2021.
The survey of over 800 landlords, undertaken by Pegasus Insight on behalf of Paragon Bank, also revealed that landlords plan to refinance an average of 2.2 properties each.
More than four in 10 (46%) will refinance just one home, three in 10 (31%) two homes and, at the other end of the scale, 6% will look to secure new loans for five or more properties.
The majority of properties, almost eight in 10 (78%), will be refinanced in a personal name, with two in 10 (19%) in a limited company.
The research also found that more than six in 10 landlords who financed their investments with BTL borrowing had a fixed rate deal mature during the last two years.
Paragon Bank managing director of mortgages Louisa Sedgwick says: “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.”
