More than three-quarters of landlords are considering refinancing their existing portfolios to fund further property investment, according to research from specialist lender Together.

The lender found that 76% of landlords were likely to refinance their portfolios during the next 12 months, suggesting that investors remain confident in the long-term prospects of the buy-to-let market despite regulatory changes.

Some 36% said they were “very likely” to refinance over the coming year, while 40% were “somewhat likely” to do so. A further 12% said they were unlikely to refinance, with the remainder taking a neutral position.

The findings come as landlords adjust to changes including the Renters’ Rights Act. Together said investors were seeking to release capital from existing properties to finance acquisitions and portfolio growth.

INVESTMENT SHIFTS NORTH

Together’s lending data also indicates that buy-to-let investment is shifting towards the North West, Scotland and Yorkshire and the Humber, while the proportion of funding directed to London and the South East has declined.

The North West’s share of the lender’s buy-to-let funding increased by 3.3% between 2020 and 2025. Scotland’s share rose by 2%, while Yorkshire and the Humber recorded an increase of 1.1%.

Greater London and the South East accounted for 20% of Together’s buy-to-let lending in 2025, down from 23.6% in 2020.

The lender said lower property prices, rental demand and the potential for capital growth were drawing investors towards areas that could provide stronger yields than traditionally more expensive markets.

Russell Anderson, chief strategy officer at Together, said: “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.

“Rather than sitting on existing assets, many investors are looking to release equity and reinvest, signalling confidence in future market opportunities. 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.”

NEW PORTFOLIO LOAN

Together has launched a Multi-Property Lending proposition for portfolio landlords seeking loans of £1 million or more.

The product has rates starting at 6.79% for a two-year fix and allows payments across a portfolio to be made through a single direct debit. Loans are available on a first or second-charge basis.