Nearly four in ten landlords plan to refinance buy-to-let properties in the next 12 months, Paragon Bank reveals.
The survey, which covers the fourth quarter of 2025, shows that 39% plan to refinance in 2026.
More than half (53%) of those with four or more BTL mortgages expect to remortgage or switch 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 increased steadily over time, with an average of 27% of landlords planning to either remortgage with another lender or secure a product switch with their existing lender in the same quarter in 2020.
Industry data shows that £49.7 billion of BTL fixed rate mortgages will mature in the 12 months to November, mainly due to the high number of five-year fixed rate mortgages taken out during a peak year for the BTL market in 2021.
The survey of more than 800 landlords, conducted by Pegasus Insight on behalf of Paragon Bank, also found that landlords plan to refinance an average of 2.2 properties each.
More than four in ten (46%) will refinance just one home, three in ten (31%) will refinance two homes and at the other end of the scale 6% will seek new loans on five or more properties.
The majority of properties, almost eight in ten (78%), will be refinanced into a personal name, with two in ten (19%) into a limited company.
The research also found that more than six in ten landlords who financed their investments with BTL loans had entered into a fixed interest rate agreement in the past two years.
Louisa Sedgwick, mortgage director at Paragon Bank says: “The research highlights that 2026 will be another key year for mortgage maturities, with refinancing and product changes driving buy-to-let activity.”
“This is driven by the booming market from 2021, when the Stamp Duty holiday led to the strongest buy-to-let market on record, with much of that business written off on five-year fixed rate mortgages.
“While many landlords plan to remortgage just one property, we see that many others may have more. This shows the benefit of working with landlords and reviewing their portfolios and future plans.”