The survey of over 1,000 landlords across the UK found 36% are highly likely to refinance their portfolio over the next year, while a further 40% said they were somewhat likely – and just 12% said they were unlikely to do so. The remainder were neutral on the issue.
Speaking to Mortgage Introducer, Dan Narwal, Intermediary Corporate Account Director at Together, explained that this survey is a great snapshot into how the market looks right now, adding that shift towards refinancing multiple properties under one lender is indicative of overall sector confidence.
Portfolios as a single asset
“This shift is being driven by landlords looking for efficiency, [the ability to] manage costs better and revisiting their future growth ambitions,” he said. “As we know, over the past few years, landlords have been building portfolios, they’ve chosen the best lender at the time, and that leads to different payment dates or different maturity dates. All of these external factors make it complex for landlords to manage their portfolio.
“Today, it’s about being more strategic with their cash flow, making sure they’re getting the most out of their portfolio and saving themselves time. [As such] a lot of landlords are looking at their portfolios as one single asset rather than individual properties dotted around the country.”
The challenging scenario buy-to-let landlords have found themselves in recently, including juggling regulatory reforms, have driven many to rethink their portfolio positioning. At Together, they’ve been quick to respond to this new pattern in the market.