Typical BTL landlord now holds 6.5 mortgages across multiple lenders
15 April 2026
- Landlords with borrowing hold an average of 6.5 buy-to-let loans
- These are spread across an average of 2.1 lender relationships
- Average total borrowing stands at £714,000
Wednesday 15th April 2026
Landlords are managing increasingly complex borrowing arrangements, often across multiple mortgages and lender relationships, research from Pegasus Insight reveals.
The Landlord Trends Q4 2025 data shows that landlords with buy-to-let borrowing hold an average of 6.5 individual loans, typically spread across just over two lender relationships. Average total borrowing stands at £714,000, reflecting the scale and structure of many modern rental portfolios.
This multi-loan, multi-lender approach highlights the operational complexity involved in managing property finance, particularly for landlords with larger or more diverse portfolios. Rather than relying on a single mortgage product, many landlords are actively managing multiple borrowing arrangements, often with different terms, maturities and refinancing timelines.
The research also shows that landlords are taking a proactive approach to managing this complexity. Seven in ten began their most recent remortgage process at least three months ahead of product maturity, suggesting a high level of engagement with financing decisions.
Broker support remains central in navigating this landscape. The majority of landlords continue to rely on intermediaries when arranging buy-to-let finance, particularly those with larger portfolios or more complex borrowing structures.
Mark Long, managing director and founder of Pegasus Insight, commented:
“What stands out from the data is the degree to which landlord borrowing is structured across multiple products and lenders. For many, managing finance is no longer a one-off decision, but an ongoing process.
“What’s interesting here is not just the number of loans, but what that says about how landlords are operating. Managing multiple mortgages across different lenders requires a level of coordination and forward planning that simply wasn’t part of the model for many landlords historically.
“That creates both opportunity and exposure for borrowers. When financing is structured across several products, decisions in one part of the portfolio can have knock-on effects elsewhere, particularly around refinancing and cashflow timing.
“It also reinforces the importance of professional mortgage advice. As portfolios become more layered, landlords need a clear view across their borrowing, rather than treating each mortgage in isolation.”
