Landbay has today (21st May 2026) released findings from the latest iteration of its landlord survey, which shows buy-to-let sentiment remains stable with landlords continuing to make clear and considered decisions about their portfolios.
The survey, which follows on from the last iteration conducted in December and January, however highlights a growing gap between landlord confidence in their own portfolios and their view of the wider economy.
While views of their individual buy-to-let businesses have settled, with 41.4% of landlords describing themselves as neutral, 21.8% positive and 36.8% negative, confidence in the UK economy remains markedly more downbeat, with 69.2% expressing a negative outlook, 27.1% neutral and just 3.8% positive.
Landbay said this reflects a market where landlords are focused on what they can control themselves, namely portfolio performance and financing, while remaining cautious about the broader economic outlook.
Landlords making clearer portfolio decisions
The results show landlords are becoming more decisive in their portfolio strategies. A majority do not plan to either buy or sell over the next 12 months, although a significant proportion are still planning to act, underlining activity remains balanced rather than subdued.
Just over half (51.9%) said they do not currently plan to purchase additional properties, while over a third (35.3%) are planning to add to portfolios. At the same time, selling intentions remain consistent with previous findings, suggesting ongoing portfolio reshaping rather than any large-scale exit from the sector.
Landbay said this reflects landlords’ ability to adapt to current conditions, even if they remain cautious about the direction of the wider economy.
Strong yields and steady rent growth underpin activity
Despite the current backdrop, many landlords continue to report solid returns. A considerable number are achieving gross yields between 4-6% (27.1%), with a large proportion (21.8%) reporting yields in the 6% to 8% range; 15.8% of respondents reported yields 10% or above.
At the same time, rents are continuing to move, with over 75% of landlords planning increases of some kind over the next 12 months. However, the approach to rent setting is becoming more flexible, which Landbay suggested is due in part to the introduction of the Renters’ Rights Act, with landlords balancing the need to manage rising costs against their new legal responsibilities and tenant affordability.
Fixed rates remain clear preference
The results show landlords continue to favour fixed-rate products. 87.2% indicated a preference for two, three or five-year fixed rates as their next mortgage, with five-year fixes (46.6%) remaining the most popular choice.
Despite increased discussion around tracker products in the market, just 6% of landlords said they were likely to choose this option for their next mortgage, underlining the continued demand for certainty and stability in borrowing costs.
As with the previous survey, refinancing remains a key theme. Even with the recent shift in rates caused by money market movements as a result of rising inflation, Landbay said many landlords coming off deals could achieve lower rates than two to three years ago. The lender said the large number of deals coming to an end this year represented a clear opportunity for brokers to engage with landlord clients and review existing borrowing.
Landbay’s Premier range is designed to support professional landlords with competitive pricing, broad criteria and a straightforward application process, giving brokers a strong set of options when looking to refinance existing borrowing and improve overall portfolio performance. Premier is also now available in Scotland and has had both AVM and HMO product options added to it this year.
Survey results also continue to reinforce the continued importance of brokers. The vast majority of landlords continue to value advice; 83% said they used a broker for their last buy-to-let mortgage from the start, while 10% started the process themselves but then moved to use the services of a professional broker in order to complete the deal.
Rob Stanton, Sales and Distribution Director at Landbay, said:
“The key difference compared to the results of our previous survey is that sentiment and confidence appears to have stabilised, even during a somewhat turbulent few months, particularly when it comes to product availability and rates.
“Landlords, for the most part, appear to be very confident about their own property businesses, and the future of their investments, even when their views on the future performance of the wider economy remain far more sceptical.
“What we are therefore seeing is a landlord community which is predominantly focused on what they can control. They are making clearer decisions on whether to buy, sell or hold, and are continuing to adapt their strategies to ensure their portfolios remain profitable. It is also clear many landlords continue to achieve strong yields, which underpins their ability to remain active in the market, even in a more challenging environment.
“When it comes to borrowing, the preference for fixed rates remains very strong. Even with more discussion around tracker products, landlords are still prioritising certainty, particularly those looking to plan over the longer term.
“At the same time, a large number of landlords are still on higher-rate mortgages arranged when pricing was less favourable. Even with recent changes, the current environment still presents a clear opportunity for brokers to communicate with those clients and potentially secure improved outcomes.
“Our full range of products, but particularly Premier given its recent expansion, are designed to give brokers a strong set of options when supporting landlord clients, helping them review existing borrowing and potentially improve cash flow.
“These survey results show how engaged and resilient the landlord community is, how aware of the market changes they are, and how they are actively seeking to work with brokers in order to secure the best financial options for their property portfolios. To say this sector continues to present an opportunity for all stakeholders, would be quite the understatement.”
Landbay will continue to run its landlord survey in order to track landlord sentiment, behaviour and market trends over time.
