More than three-quarters of UK landlords are considering refinancing their existing portfolios to fund further property investment over the next 12 months, according to research from specialist property lender Together.

The research found that 76% of landlords were likely to refinance to support further investment, including 36% who said they were “very likely” and 40% who were “somewhat likely” to do so. Just 12% said they were unlikely to refinance.

Russell Anderson, Chief Strategy Officer at Together, said: “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.”

Together’s own buy-to-let lending data also points to a shift in investment activity towards northern regions and Scotland. Between 2020 and 2025, the North West increased its share of the lender’s buy-to-let funding by 3.3 percentage points, while Scotland increased by 2 percentage points and Yorkshire and the Humber by 1.1 percentage points.

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

The lender said the figures indicate investors are increasingly looking towards locations where lower property prices, rental demand and potential for capital growth could offer stronger returns.

The findings come as landlords continue to adapt to regulatory changes, including the Renters’ Rights Act, while the buy-to-let sector increasingly shifts towards larger, more professional portfolio investors.