Professional landlords remain the main drivers of buy to let borrowing, confidence has softened slightly amid concerns around how the Renters’ Rights Act changes will land, according to research from Foundation Home Loans.

One in three landlords sought new finance, refinancing or a product transfer in the last 12 months to Q4 2025, with it rising to six in ten among landlords with buy to let borrowing in place.

Grant Hendry, Director of Sales at Foundation Home Loans, said: “The complexity of portfolios, combined with regulatory change such as the Renters’ Rights Act, means brokers and specialist lenders have an increasingly important role to play. This is not a market stepping away from the PRS, or buy to let, or the finance needs required in this space, but it is one that is becoming more selective and more reliant on experience and support. 

“Concerns around possession, court delays and future regulation are clearly shaping landlord behaviour, particularly for smaller operators. However, professional landlords continue to adapt their strategies and remain focused on long-term sustainability. That is where Foundation’s ability to deliver specialist lending, manual underwriting and strong broker relationships really matter.”

On average, landlords with borrowing now hold 6.5 individual buy to let loans across more than two lender relationships, with total average borrowing standing at £714,000 and an average LTV of just under 50%. 

The research also shows limited company and portfolio landlords continue to behave very differently from smaller, individual landlords. Limited company landlords hold far larger portfolios on average, are more likely to use buy to let finance, and are more active in refinancing and rent reviews.