360 Portfolio Review: Preparing Buy-to-Let Portfolios for 2025 | The buy-to-let mortgage market is entering a period of increased remortgage activity. Recent industry data shows that remortgage volumes reached £6.3 billion in Q4 2024. This was an increase from £5.7 billion in the previous quarter and a rise of over 40 per cent year on year.
Although purchase activity also increased, remortgaging remained the dominant driver within the buy-to-let sector. This trend is expected to continue into 2025.
Demand for private rental homes remains strong, while housing supply continues to lag. As a result, landlords are reviewing existing borrowing more closely to manage costs, improve cash flow, and support long-term portfolio performance.
A 360 Portfolio Review helps landlords assess how well their current mortgage structure aligns with today’s market conditions.
When Did You Last Review Your Property Portfolio
Many landlords focus on individual properties rather than reviewing their portfolio as a whole. However, regular reviews are essential for managing risk and maintaining profitability.
A structured portfolio review considers mortgage terms, rental income, property values, and upcoming fixed rate expiries. This approach helps landlords respond to changes in interest rates, lender affordability rules, and tenant demand.
By completing a 360 Portfolio Review, landlords may identify opportunities to release equity, improve monthly cash flow, or plan future purchases using Buy-to-Let Mortgage solutions that better suit their circumstances.
Reviews also allow landlords to prepare for upcoming remortgages and address affordability concerns before they become an issue.
Why Remortgages Matter for Landlords in 2025
More than 190,000 buy-to-let mortgages are expected to reach the end of their fixed-rate terms this year. These loans have a combined value of over £26 billion. This figure does not include internal product transfers, meaning the number of remortgage decisions faced by landlords is likely higher.
In addition, many landlords are now remortgaging previously unmortgaged properties. This allows them to leverage property value growth and access capital at lower loan-to-value ratios.
This strategy can help landlords navigate tighter affordability rules and access a wider range of mortgage products. It may also support refinancing through Limited Company Mortgages or Portfolio Landlord Mortgages, depending on the portfolio structure.
Common reasons landlords review and remortgage include:
- Purchasing higher-yielding rental properties
- Funding improvements to existing homes
- Improving overall portfolio returns
The Impact of Maturing Buy-to-Let Mortgages
Mortgage maturities in 2025 reveal two key trends across landlord portfolios.
Many landlords are coming off five-year fixed rates taken out in 2020. These mortgages were secured at historically low interest rates. Others are reaching the end of two-year fixes arranged in 2023, when rates were significantly higher due to market volatility.
For landlords with two-year fixes from 2023, the current average rate of around 4.4 per cent provides some relief. Average monthly repayments have declined from peak levels in 2023.
However, landlords exiting five-year fixes from 2020 should expect higher borrowing costs. Although rents have increased over the past five years, repayments are still likely to rise relative to the ultra-low-rate period.
A 360 Portfolio Review helps landlords understand the impact of these changes and plan appropriate Remortgage strategies across their portfolio.
| Category | Key Information (2025) |
|---|---|
| Remortgage Market Size (Q4 2024) | £6.3 billion — up 41.7% YoY |
| 2025 Mortgage Maturities | 190,000+ BTL mortgages worth £26.2 billion maturing this year |
| Five-Year Fixes (from 2020) | ~137,000 mortgages maturing in 2025 |
| Two-Year Fixes (from 2023) | ~54,000 mortgages maturing in 2025 |
| 2023 Average BTL Mortgage Rate | 5.34% |
| 2025 Average BTL Mortgage Rate (current) | 4.40% (approx.) |
| Change in Typical Monthly Payments | Down from £1,183 (2023) to £1,083 (2025) |
| BTL Product Switch Market (Q2 2023) | £13.5 billion — peak level for product switches |
| Rental Growth (5-Year Average) | 33% increase in average rents since 2020 |
| Unencumbered BTL Mortgages (2024) | ~17% of new BTL mortgages written on previously mortgage-free properties |
| House Price Growth (Post-Pandemic) | Significant — contributing to increased equity for landlords |
| Affordability Constraints | Eased slightly, but remains a factor for highly leveraged landlords |
| Broker Value | Essential for navigating lender criteria, rates, and affordability tests |
The Role of Product Switching for Landlords
Product transfers, often referred to as product switching, have become an important tool for landlords managing buy-to-let mortgages. They allow borrowers to transition to a new deal with their existing lender without undergoing full underwriting.
Recent market data indicate that product switching continues to gain popularity among portfolio landlords. Even as interest rates have eased, affordability assessments remain strict. For many landlords, switching products offers a practical way to manage costs while avoiding unnecessary disruption.
Not all lenders offer product switching, and the criteria can vary widely. A mortgage broker with access to the whole market can assess whether a product transfer or a Remortgage is more suitable based on portfolio structure and plans.
For landlords with multiple properties, product switching can form part of a wider strategy reviewed through a 360 Portfolio Review, ensuring decisions align with long-term investment goals.
Why Mortgage Brokers Matter for Portfolio Landlords
Mortgage brokers play a vital role for portfolio landlords in today’s lending environment. Regulatory changes, stricter lender assessments, and the growing use of specialist lending mean professional advice is now essential.
A broker helps landlords navigate complex criteria, structure borrowing efficiently, and remain compliant with current regulations. This support is critical when reviewing multiple properties across a portfolio rather than a single mortgage.
Through a structured Portfolio Landlord Mortgage review, brokers can identify risks, improve affordability outcomes, and support long-term portfolio planning.
The Growing Complexity of Portfolio Reviews
Portfolio mortgage assessments have become significantly more detailed since the Prudential Regulation Authority introduced enhanced underwriting rules.
Lenders are now required to assess the performance of a landlord’s entire portfolio, not just the property being financed. This process forms a core part of any professional 360 Portfolio Review.
Key areas reviewed by lenders include:
- Interest Coverage Ratios
Lenders assess whether total rental income covers mortgage payments by a required margin. This is commonly set at around 145 per cent and calculated using a stressed interest rate. - Loan-to-Value Across the Portfolio
Many lenders apply maximum loan-to-value limits at the portfolio level to manage risk. This can affect future borrowing or refinancing options. - Overall Financial Position
Landlords must provide detailed documentation, including a full property schedule, rental income details, and information about their experience and financial stability.
A qualified broker ensures this information is presented clearly and accurately. This improves lender confidence and reduces the risk of delays or declined applications.
Why Professional Advice Is Essential
Portfolio lending is no longer a straightforward process. Without expert guidance, landlords may miss opportunities or face unexpected affordability issues.
Working with a broker who understands Buy-to-Let Mortgages, Limited Company Mortgages, and portfolio-level affordability enables landlords to make informed decisions. This approach supports both short-term funding needs and long-term investment goals.
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