BTL market ‘cannot be destroyed’, says Fleet’s Cox

14 October 2026

Buy-to-let will remain a fundamental part of the UK housing market despite regulatory change, but the sector will need to find ways to attract a new generation of landlords, specialist lenders have said.

Speaking at the Brightstar Specialist Lending Expo 2026 at the London Stadium on Wednesday 7th October industry figures rejected suggestions that changes under the Renters’ Rights Act would fundamentally undermine the private rented sector.

Fleet Mortgages chief commercial officer Steve Cox said the changes were another barrier for landlords and have accelerated the shift towards a more professional buy-to-let market.

However, he said: “You cannot destroy the private rental sector. You cannot do it. It’s a fundamental part of our housing fabric.”

Cox said tenancy demand tended to be counter-cyclical, increasing during difficult economic periods as affordability pressures make buying a home harder.

MT Finance Group chief executive Joshua Elash said buy-to-let had also proved surprisingly resilient during 2026.

While the lender had experienced weaker demand in some other asset classes, Elash said:

“Buy-to-let has actually been one of the best performers for us as an institution this year.”

He said there appeared to be a disconnect between perceptions surrounding new legislation and its impact on landlords in practice, describing buy-to-let as “one of the bright spots in 2026”.

OSB Group head of intermediary sales and distribution Emily Hollands, said regulatory changes would eventually become part of the normal operation of the market, pointing to previous upheaval within buy-to-let.

She also suggested attitudes towards property ownership among younger generations could change the shape of the sector.

Hollands said younger people may increasingly decide that rather than prioritising the purchase of their own residential property, they want to invest in property as a way of generating returns.

She said: “I think the buy-to-let market will continue. I think it will change over the next three to five years.”

However, the panel acknowledged the challenge of raising deposits for younger would-be landlords, particularly given high levels of student debt and the need for many to first fund their own housing.

Brightstar Group chief executive Rob Jupp suggested the “Bank of Mum and Dad” could play a role in helping younger people enter the market.

Cox said inheritance could also create a new generation of landlords as properties and limited company structures pass down through families.

He added that lenders were unlikely to significantly increase their risk appetite through much higher loan-to-values in the current environment.