More than three-quarters of buy-to-let landlords are planning to refinance their property holdings within the next year, primarily to finance new acquisitions, according to recent research from specialist lender Together. The survey indicates that a significant 76% of landlords anticipate engaging in refinancing activities over the coming 12 months, with a notable 36% describing themselves as “very likely” to do so and another 40% as “somewhat likely”. Only a small minority, 12%, expressed unlikelihood regarding refinancing their portfolios.
This trend suggests a robust appetite for expansion within the buy-to-let sector, despite ongoing economic uncertainties and regulatory adjustments, such as the Renters’ Rights Act. Russell Anderson, chief strategy officer at Together, highlighted that these findings demonstrate sustained activity and a willingness among investors to leverage existing assets for future growth. He noted that rather than simply holding onto current properties, many are actively seeking to release equity and reinvest, reflecting optimism about future market opportunities.
The research also points to a notable geographical redistribution of investment activity across the UK. Together’s buy-to-let lending data reveals a clear shift towards northern England and Scotland. Between 2020 and 2025, the North West saw its proportion of the lender’s buy-to-let financing increase by 3.3 percentage points. Similarly, Scotland’s share rose by two percentage points, and Yorkshire and the Humber experienced a 1.1 percentage point increase.
Conversely, the combined share of lending directed towards Greater London and the South East saw a decline, dropping from 23.6% in 2020 to 20% in 2025. This shift underscores changing affordability dynamics across the English and Welsh property markets, with landlords increasingly seeking locations that offer more attractive rental yields and long-term growth prospects outside of the traditionally dominant southern regions.
For UK households, this sustained investment in the buy-to-let market could have several implications. An expansion of rental portfolios might lead to an increase in available rental properties in certain areas, potentially easing some pressure on rental prices in those regions. However, for prospective first-time buyers, continued investor activity could mean sustained competition for properties, particularly in areas identified as having strong rental demand and affordability for landlords. The Bank of England's current interest rate environment also plays a crucial role, influencing the cost of borrowing for both landlords and homeowners, and therefore impacting mortgage affordability and rental yields.