Remortgaging, particularly in buy-to-let, used to feel relatively straightforward. A deal came to an end, a borrower looked at what rates were available and the conversation with their broker was largely about price. That was true for much of the 2010s when the base rate sat so low, but it’s not the case today.
Recent Pegasus Insight research found that 39% of landlords plan to refinance during 2026. Among landlords with four or more buy-to-let mortgages, that figure rises to 56%, compared with 24% of those with between one and three properties – that makes sense, given the more mortgages you have the more likely you are to remortgage at least one of the loans.
But for many landlords, a remortgaging decision is now being made against a backdrop of rates that are higher than they may previously have been used to, not to mention tighter margins, changing regulation and greater pressure on yields. If they hold multiple properties, the decision on one loan may well have implications for the wider portfolio. It may affect cashflow, future borrowing capacity, portfolio structure or the timing of other decisions that still need to be made elsewhere.
In other words, remortgaging is no longer just about securing the cheapest available rate.
A broader conversation for brokers
The convergence of multiple factors including rates, regulation and tax means that more than ever, conversations about mortgage products need to consider a landlord’s entire portfolio and financial position. The role of the broker has shifted a little as a result.
A landlord approaching the end of a fixed rate today may need to think through whether they should refinance externally or stay with their current lender. They might also be thinking about releasing capital or considering whether a shorter or longer-term product makes sense. If they own a portfolio, they may be considering how refinancing could impact their other properties and loans. Debt consolidation and exit strategies could also be a factor.
That’s especially true when multiple properties are involved. Pegasus Insight's research noted that nearly half of those planning to refinance intend to do so on one property, but significant numbers expect to refinance two or more, and some on five or more.
These are almost certainly professional landlords, which shows that remortgages are being seen more strategically than they have before. Therefore, brokers must be able to advise them not just on sourcing a product but to also help them understand their options and provide insights into what might work best for them.
It means that brokers need to remain abreast of the full picture of their clients’ financial and investment positions, with a particular focus on what loans might be maturing soon and the impact that a product shift could have on cashflow if they go onto a higher rate.
Brokers will be increasingly focusing questions that perhaps wouldn’t normally be considered as ‘routine’, though clients posing them will likely become much more common.
The implications for lenders
As head of sales at CHL Mortgages, I recognise this shift also has implications for how buy-to-let lenders engage with brokers and borrowers.
If remortgaging is becoming more strategic, lenders need to reflect that in how they engage with the market. That starts with clarity. Brokers need a clear sense of appetite, criteria and where a lender is likely to be comfortable, particularly on cases that involve more than a single straightforward refinance.
Accessibility matters as well. The more complex a case is, the more valuable it is for brokers to be able to have an informed conversation early, rather than trying to second-guess whether a case is likely to fit. In that sense, dedicated sales support and upfront clarity on criteria can make a real difference to the quality of service brokers can pass on to clients.
There’s also a wider point about mindset. If lenders continue to treat remortgaging as a purely transactional exercise, they risk missing what brokers are increasingly seeing on the ground. Many of these cases are not complex for complexity’s sake. They’re actually a reflection of the fact that landlords’ borrowing decisions now sit within a more complicated commercial and regulatory context.
Not routine, but more important
None of this is to suggest that rates aren’t important. Clearly, they are. But the remortgage conversation, particularly in buy-to-let, has become much bigger than that for some landlords.
For brokers, the value increasingly lies in being able to step back and look at the full picture, not just when the next deal expires. And for lenders, the opportunity is to recognise that shift by being clear, accessible and prepared to engage properly with cases that may have more moving parts than they once did.
Because in today’s market, while remortgaging may still be one of the most common parts of brokers’ and lenders’ day-to-day business, it cannot always be treated as a routine exercise.
