How is market volatility changing landlord behaviour – landlord survey report H1 2026

Published June 4. Findings reflect landlord sentiment captured during fieldwork in April and May 2026.

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More than 80% of landlords describe current market conditions as volatile, yet the picture underneath is far steadier. In Landbay’s H1 2026 landlord survey of more than 1,800 landlords, only 36.8% feel negative about their own buy to let business, even though 69.2% feel negative about the UK economy. Landlords are still buying, selling, remortgaging and leaning on brokers, just more deliberately than before.

Recent global events and interest rate movements have made landlords more careful, not less active. For brokers, the practical question is where that caution shows up: which clients have paused, which are still moving, and what they now need most from a lender. Landbay’s H1 2026 landlord survey was fielded to answer exactly that, covering confidence, buying and selling intentions, finance access, mortgage preferences, rent plans and how landlords use advice.

Key findings at a glance

• In Landbay’s H1 2026 landlord survey, more than 80% of landlords describe current market conditions as volatile, yet activity levels have remained strong.
• In Landbay’s H1 2026 landlord survey, 69.2% of landlords feel negative about the UK economy over the next 12 months, but only 36.8% feel negative about their own buy to let business.
• The same survey found 51.9% of landlords do not intend to buy a property in the next 12 months, while 35.3% plan to buy at least one.
• Landbay’s H1 2026 survey found 45.9% of landlords have no plans to sell, while 39.8% plan to sell at least one property.
• According to Landbay’s H1 2026 survey, 35.3% of landlords have reduced their buy to let activity in response to recent market volatility, and 21.8% have delayed their plans.
• In our H1 2026 survey, 49.6% of landlords say their confidence in accessing buy to let finance has decreased this year, and 82.7% describe current product availability as limited or very limited.
• Landbay’s H1 2026 survey found 94.0% of landlords expect to choose a fixed-rate mortgage next time they remortgage, with a 5-year fix the single most popular choice at 46.6%.
• Landlords told us in Landbay’s H1 2026 survey that 92.4% used a mortgage adviser at some point when looking for buy to let finance, including 82.6% who used one from the start.
• Competitive rates matter most to 66.2% of landlords when choosing a lender, according to Landbay’s H1 2026 survey, ahead of certainty once an offer is made at 44.4%.

About this survey

The Landbay landlord survey is our own research. We run it twice a year with our landlord borrower base, and publish the findings in full.

Each edition combines two sets of questions. Evergreen questions cover portfolio size, location, intentions to buy or sell and the reasons behind them, and general outlook. These stay the same in every edition, so results can be tracked over time. Topical questions are added when something significant happens in the market. For H1 2026 the topical focus was the effect of recent global events and interest rate movements on landlord behaviour.

For the H1 2026 edition we surveyed more than 1,800 UK landlords from April 29 to May 6. Once responses are in, we analyse the results and publish them.

• Landlords surveyed: more than 1,800, drawn from Landbay’s landlord borrower base
• Frequency: twice a year
• Question design: repeated evergreen benchmark questions, plus topical questions added in response to market events
• Fieldwork period: April 29 – May 6
• Publisher: Landbay Partners Limited

How confident are landlords feeling in 2026?

Landlords are far more confident about their own portfolios than about the UK economy as a whole. In Landbay’s H1 2026 landlord survey, 69.2% of landlords feel negative about the UK economy over the next 12 months, compared with 36.8% who feel negative about their own buy to let business.

Confidence in their own buy to let business

Asked how confident they feel about their own buy to let business over the next 12 months, the H1 2026 survey found:

• 41.4% of landlords feel neutral about the year ahead for their own business.
• 36.8% of landlords feel negative about the year ahead for their own business.
• 21.8% of landlords feel positive about the year ahead for their own business.

Confidence in the UK economy

Asked the same question about the UK economy, the H1 2026 survey found:

• 69.2% of landlords feel negative about the UK economy over the next 12 months.
• 27.1% of landlords feel neutral about the UK economy.
• 3.7% of landlords feel positive about the UK economy.

Broker takeaway. Landlords are drawing a clear line between the wider economy, which they can’t control, and their own portfolio, which they can. That gap is an opening: a landlord who is gloomy about the economy but neutral or positive about their own business is a landlord still open to a proactive conversation about what to do next, rather than one who has mentally checked out of the market.

Are landlords buying or selling in the next 12 months?

Landlords are making clearer decisions rather than sitting on their hands. According to Landbay’s H1 2026 survey, 51.9% of landlords do not intend to buy a property in the next 12 months, while 35.3% plan to buy at least one, and 12.8% are unsure.

Buying

Broken down by how many properties landlords intend to add, the H1 2026 survey found:

• 15.0% of landlords plan to buy two to three properties in the next 12 months.
• 14.3% plan to buy one property.
• 4.5% plan to buy eleven or more properties.
• 1.5% plan to buy four to ten properties.

Selling

On the selling side, Landbay’s H1 2026 survey found 45.9% of landlords have no plans to sell, while 39.8% plan to sell at least one property and 14.3% are unsure.

Among those planning to sell, the H1 2026 survey found:

• 18.8% of landlords plan to sell two to three properties in the next 12 months.
• 15.0% plan to sell one property.
• 4.5% plan to sell four to ten properties.
• 1.5% plan to sell eleven or more properties.

Broker takeaway. Selling activity at this level looks like portfolio reshaping rather than an exit from the sector, since buying intentions are running at a similar scale. That points to remortgage and restructuring conversations as much as new purchase business, particularly with landlords who plan to both trim and add properties over the year.

How has market volatility affected landlords’ plans?

More than 80% of landlords describe current market conditions as volatile, according to Landbay’s H1 2026 landlord survey. Despite that, activity has held up: recent global events and interest rate movements have made landlords more cautious, though not inactive. Landbay’s H1 2026 survey found 35.3% of landlords have reduced their buy to let activity as a result, and 21.8% have delayed their plans, while 40.6% report no change and 2.3% have actually increased activity.

Despite that caution, landlords have stayed engaged with the mortgage market. In the same survey, 25.6% of landlords had completed a mortgage in the past month and 24.1% had one in progress, meaning close to half were actively moving a deal forward despite the disruption seen during March and into April.

Across the full range of responses, the H1 2026 survey found:

• 36.8% of landlords had not looked for buy to let finance in the past month.
• 25.6% of landlords had completed a mortgage in the past month.
• 24.1% of landlords had a mortgage in progress.
• 13.5% of landlords had looked for finance but did not proceed.

Broker takeaway. A landlord who has delayed plans or reduced activity has not necessarily gone quiet on finance. Nearly half were still actively looking for buy to let finance in the past month, so this is a segment worth proactively checking in with, rather than assuming they’ve paused their search along with their purchase plans.

Is buy to let finance harder to access right now?

Confidence in accessing finance has fallen for many landlords. Landbay’s H1 2026 survey found 49.6% of landlords say their confidence in accessing buy to let finance has decreased since earlier in the year, while 45.1% say it has stayed the same and 5.3% say it has increased.

Landlords also see product choice as constrained. In the same survey, 82.7% of landlords describe current buy to let finance availability as limited or very limited, made up of 57.9% who say choice is limited and 24.8% who say it is very limited. Only 17.3% describe availability as a good choice.

Broker takeaway. When most landlords feel product choice is limited, the value a broker adds by finding what is actually available, and moving quickly once it’s found, goes up. This is a good moment to lead with certainty and speed of execution rather than rate alone, since that is precisely what landlords say they’re worried about losing.

What type of mortgage will landlords choose next?

Fixed-rate mortgages remain the overwhelming preference. Landbay’s H1 2026 survey found 94.0% of landlords expect to choose a fixed rate when they next remortgage, combining three fixed-term options, with a 5-year fix the single most popular choice.

By loan type, the H1 2026 survey found:

• 46.6% of landlords expect to choose a 5-year fixed rate when they next remortgage.
• 40.6% expect to choose a 2 to 3-year fixed rate.
• 6.8% expect to choose a 7 to 10-year fixed rate.
• 6.0% expect to choose a variable rate or tracker.

Broker takeaway. The gap between 5-year and 2 to 3-year fixes is narrower than the overall fixed-rate preference suggests, 46.6% against 40.6%, so this is not a settled choice for a lot of landlords. It is worth walking clients through both terms explicitly rather than defaulting to whichever is currently cheapest, given how closely matched the two options are.

How much do landlords plan to change rents?

Most landlords plan some increase, but a measured one. In Landbay’s H1 2026 survey, 37.6% of landlords plan to raise rents in line with inflation, the single largest group, while 22.6% plan no change at all.

Across the full range of responses, the H1 2026 survey found:

• 37.6% of landlords plan to raise rents in line with inflation.
• 22.6% of landlords plan no change to rents in the next 12 months.
• 17.3% plan to raise rents by between inflation and 7%.
• 14.3% plan to raise rents by less than inflation.
• 6.0% plan to raise rents by between 7% and 10%.
• 2.3% plan to raise rents by more than 10%.

Broker takeaway. With over three-quarters of landlords planning some increase, rental income assumptions used in an affordability conversation should not default to last year’s figures. Equally, only 8.3% plan a rise above 7%, so this is not a market bracing for steep rent hikes, and framing it that way to a client would overstate what the data shows.

What goes wrong during a buy to let remortgage?

Landbay’s H1 2026 survey found 39.8% of landlords reported no issues with their most recent mortgage process, while the remainder cited at least one difficulty.

39.8% of landlords reported no issues with their most recent mortgage process.

• 27.8% had to act quickly to secure a product.
• 19.5% experienced delays due to market changes.
• 18.8% had to switch products during the application.
• 15.0% had to rework borrowing amounts.
• 2.3% failed affordability because of higher rates.

Broker takeaway. Acting quickly and switching products mid-application are the two most common friction points, together affecting well over a third of landlords. This is squarely a speed and certainty problem, and worth raising proactively with a client before they hit it, rather than managing it after a product has already been pulled.

How do landlords look for buy to let finance?

Reliance on advice remains high. Landbay’s H1 2026 survey found 82.6% of landlords used an adviser from the start of their search, and a further 9.8% started the process themselves before bringing in an adviser, meaning 92.4% used advice at some point. Only 7.6% carried out the whole process themselves.

Broker takeaway. The 9.8% who start alone and then bring in an adviser are a specific, identifiable group, likely landlords who hit exactly the kind of friction described above. Content and messaging aimed at “gone as far as I can on my own” moments could convert some of this group earlier in their search, rather than only after they’ve already stalled.

What matters most to landlords from a lender right now?

Rate still matters most, but it is no longer the whole story. Landbay’s H1 2026 survey found 66.2% of landlords say competitive rates matter most from a lender, followed by certainty once an offer is made at 44.4%.

• 66.2% of landlords say competitive rates matter most from a lender.
• 44.4% say certainty once an offer is made.
• 36.1% say stability of pricing during the process.
• 34.6% say consistent product availability.
• 27.1% say clear communication.

Broker takeaway. Three of the top four priorities here, certainty, pricing stability and product availability, are about reliability rather than headline rate. When recommending a lender in the current market, it’s worth naming those qualities explicitly to a landlord client, since the data suggests they are actively weighing them, not just comparing rate tables.

What this means for brokers overall

Taken together, Landbay’s H1 2026 landlord survey describes a market that has grown more cautious without losing momentum. Landlords are worried about the economy more than their own portfolios, many have paused or slowed specific plans in response to volatility, and confidence in accessing finance has softened. Yet buying, selling and remortgaging activity all continue, fixed-rate preference is stronger than ever, and reliance on professional advice remains close to universal. For brokers, the opportunity is to lead with certainty, speed and clear communication, the three things landlords say they now value alongside rate, and to stay close to clients who have paused rather than assuming they have left the market.

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Frequently asked questions

Do landlords think the buy to let market is volatile right now?
Yes. More than 80% of landlords describe current market conditions as volatile, according to Landbay’s H1 2026 landlord survey, although activity levels have remained strong despite that.

How do landlords feel about the buy to let market in 2026?
Mixed but not despondent. Landbay’s H1 2026 landlord survey found 69.2% of landlords feel negative about the UK economy over the next 12 months, but only 36.8% feel negative about their own buy to let business, with 41.4% feeling neutral and 21.8% positive.

What percentage of landlords plan to buy a property in the next 12 months?
35.3% of landlords plan to buy at least one property, according to Landbay’s H1 2026 landlord survey, while 51.9% do not intend to buy and 12.8% are unsure.

Are landlords selling up in 2026?
Not on a large scale. Landbay’s H1 2026 survey found 45.9% of landlords have no plans to sell, while 39.8% plan to sell at least one property, a similar scale to buying activity.

Has market volatility changed landlords’ buy to let plans?
For many, yes. Landbay’s H1 2026 survey found 35.3% of landlords have reduced their buy to let activity in response to recent global events and interest rate movements, and 21.8% have delayed their plans, while 40.6% report no change.

Are landlords still looking for buy to let finance despite the volatility?
Many are. Landbay’s H1 2026 survey found 25.6% of landlords had completed a mortgage in the past month and 24.1% had one in progress, meaning close to half were actively engaged with the finance market.

Is buy to let finance harder to access in 2026?
Landlords think so. Landbay’s H1 2026 survey found 49.6% of landlords say their confidence in accessing buy to let finance has decreased this year, and 82.7% describe current product availability as limited or very limited.

What type of mortgage do most landlords choose?
A fixed rate. Landbay’s H1 2026 survey found 94.0% of landlords expect to choose a fixed-rate mortgage next time they remortgage, with a 5-year fix the most popular single option at 46.6%, ahead of a 2 to 3-year fix at 40.6%.

Will landlords raise rents in 2026?
Most plan a measured increase. In Landbay’s H1 2026 survey, 37.6% of landlords plan to raise rents in line with inflation, while 22.6% plan no change and only 8.3% plan to raise rents by more than 7%.

What issues do landlords face when remortgaging?
The most common issue is having to act quickly to secure a product, reported by 27.8% of landlords in Landbay’s H1 2026 survey, ahead of delays due to market changes at 19.5%. 39.8% reported no issues at all.

Do most landlords use a mortgage broker for buy to let?
Yes. Landbay’s H1 2026 survey found 82.6% of landlords used an adviser from the start of their search, and 92.4% used an adviser at some point in the process. Only 7.6% carried out the whole process themselves.

What do landlords want most from a lender in 2026?
Competitive rates, but not only that. Landbay’s H1 2026 survey found 66.2% of landlords cite competitive rates as what matters most, followed by certainty once an offer is made at 44.4% and pricing stability during the process at 36.1%.

How many landlords were surveyed for Landbay’s H1 2026 report?
Landbay surveyed more than 1,800 UK landlords from its landlord borrower base for the H1 2026 edition.