For years, successive government policy changes have made it harder for buy-to-let landlords to turn a profit. New research from specialist property lender Together suggests that’s now shifting, with a significant majority of landlords considering portfolio refinancing to fund further investment as confidence grows in a more “professionalised” sector.
Data from the lender shows more than three-quarters (76%) of landlords are likely to refinance their existing property portfolios over the next 12 months to fund further investment, pointing to growing confidence in the long-term prospects of the UK property market. Landlords were asked how likely they were to refinance over the coming year:
- 36% said they were “very likely” to refinance their portfolio
- 40% said they were “somewhat likely”
- 12% said they were unlikely to do so, with the remainder neutral
The findings suggest that despite a major shake-up of the sector, including landlords adapting to the Renters’ Rights Act, investors continue to view property as an attractive long-term asset class. Many are actively looking for ways to unlock capital from existing portfolios to support future acquisitions and growth.
The appetite for portfolio refinancing comes as Together expands its buy-to-let lending, having launched a new Multi-Property Lending proposition for portfolio landlords seeking finance of more than £1 million.
While the North West has long been a heartland for Manchester-based Together, its funding activity since 2020 shows Scotland and Yorkshire and the Humber are also attracting increased investment compared with London and the South East.
The North West increased its share of Together’s buy-to-let funding by 3.3 percentage points between 2020 and 2025, while Scotland grew by 2% and Yorkshire and the Humber by 1.1%. Greater London and the South East accounted for less than a fifth (20%) of Together’s buy-to-let lending in 2025, down from 23.6% in 2020, suggesting the lender’s activity is becoming increasingly concentrated in Northern regions and Scotland.
The figures reflect continued demand for areas offering stronger rental yields, driven by lower property prices and greater scope for capital growth than some traditionally higher-priced markets.
“The fact that more than three-quarters of landlords are considering refinancing across their portfolios to fund further investment demonstrates the resilience of the UK buy-to-let sector,” said Russell Anderson, chief strategy officer at Together.
“Rather than sitting on existing assets, many investors are looking to release equity and reinvest, signalling confidence in future market opportunities,” he added. “They are also seeking finance across their entire existing portfolios to expand their property ambitions.
“At the same time, funding data shows a clear concentration of activity across England, particularly in Northern regions such as the North West, Yorkshire and the North East. Investors continue to be attracted by locations where affordability, rental demand and long-term growth prospects remain compelling.
“Taken together, these trends suggest landlords are not only planning to expand their portfolios but are also increasingly willing to look beyond traditional investment locations in search of stronger returns.”