Last month in Financial Reporter, I set out why remortgaging is likely to sit at the heart of many landlords’ strategies through 2026.
A month or so on, that remains very much the case. What has become clearer, however, is how advisers have been approaching those remortgage advice decisions in a market that now looks far more settled than it has for some time.
Price of course still matters but when pricing is relatively close between various lender/product options, there are other factors clearly coming into play when making the recommendation.
What has been noticeable to us at Landbay is how advisers appear to be placing increasing weight on speed of process and technology, certainty of outcome and flexibility of criteria, particularly for landlords who are simply looking to refinance existing borrowing rather than change the shape of their portfolios.
Like-for-like remortgaging is driving activity
A significant proportion of landlord borrowers coming to the end of deals are not looking to raise additional funds. In many cases, this reflects a realistic assessment of values, affordability and wider portfolio exposure, while for others it is simply about managing costs and maintaining stability.
This rise in like-for-like remortgaging changes the conversation. When there is no requirement for additional borrowing, the focus might be less on stretching stress tests and more on speed of execution. The priority becomes securing a deal efficiently, with minimal disruption, and giving clients confidence that the process will run smoothly from application through to completion.
That context matters when thinking about how pricing is viewed. It’s also a combination of all these reasons why we offer specific like-for-like remortgage products, with both fixed and tracker options.
The price gap is now measured in pounds, not percentages
One of the defining features of the current market is how narrow pricing gaps have become. When advisers compare leading products, the difference in monthly payments is often measured in tens of pounds rather than hundreds.
In that environment, chasing the absolute lowest rate can deliver diminishing returns. A marginal saving on price can quickly be outweighed by delays, uncertainty or inflexible criteria, particularly on remortgage cases where timing and certainty matter.
As a result, advisers appear to be looking beyond headline pricing and assessing what else differentiates lenders. That includes how quickly a decision can be made, how accessible underwriters and sales teams are, and how confident brokers feel that a case will complete without unnecessary friction.
Speed and certainty are shaping broker behaviour
This shift in behaviour is clear in the types of products advisers are looking at and recommending. For example, through January we saw very strong demand for our AVM products, even in situations where we may not be leading the market purely on rate.
That demand reflects how advisers are prioritising speed and certainty. AVM-led remortgages allow advisers to move quickly on clients' maturing cases, often securing offers within days rather than weeks, and providing landlord clients with early clarity around future payments.
In a stable pricing environment, that ability to act decisively is highly valued. It reduces risk for clients, avoids last-minute pressure, and supports better planning on both sides of the transaction.
Acting early, with flexibility built in
Another theme that has emerged more strongly since the start of the year is the importance of timing. With a significant number of landlords approaching maturity on five-year deals taken out in 2021, advisers appear to be encouraging clients to engage earlier in the process.
Securing a deal well ahead of maturity provides optionality. It allows borrowers to lock in current pricing, which remains attractive by recent standards, while retaining the ability to review if market conditions shift before completion.
Rather than waiting in the hope of marginal further improvements, advisers can focus on certainty now, with flexibility later.
Flexibility matters alongside speed
Alongside speed, flexibility of criteria is also playing a larger role in lender/product selection. Clearly, borrower/property/tenant/company circumstances can all change over the life of a deal, whether through company structure, directorships or broader portfolio strategy.
Advisers are therefore placing value on lenders who can accommodate those changes within a remortgage or product transfer process, rather than forcing clients into rigid outcomes that no longer reflect their position. Again, this reinforces why the market is moving away from a narrow focus on price alone.
A more balanced approach to remortgaging
None of this suggests price has become irrelevant. That would be ludicrous. It remains a fundamental part of any recommendation, especially when you are dealing with existing clients who will be remortgaging into a changed price environment. What may change slightly is the balance.
In a market where pricing differences are modest, and where many landlords are refinancing without borrowing more, speed of process, certainty of outcome and flexibility of approach are increasingly influential. Advisers are responding accordingly, and lenders who recognise this shift are seeing the benefit.
