Buy-to-let lender, Landbay, has today (28th October 2026) released findings from its latest landlord survey, revealing widespread concern around the prospect of further tax changes being announced in today's Budget, with many landlords having delayed investment and financing decisions ahead of the Chancellor's announcement.
The Q3 survey, which was sent to over 2,000 landlords, found almost eight out of 10 landlords were concerned about the possibility of further tax measures affecting the private rental sector, with 49% describing themselves as 'very concerned' and a further 31% 'quite concerned'.
When asked to identify the single biggest concern facing their buy-to-let business, mortgage interest rates and finance costs topped the list at 29%, followed by further tax changes at 26%, highlighting the financial pressures landlords are continuing to manage.
Landbay said the findings demonstrated the importance of providing landlords with greater certainty over the future direction of Government policy, particularly at a time when the sector is already adjusting to significant regulatory and economic changes.
Budget uncertainty influencing landlord decisions
The survey found concerns about the Budget over the past few weeks have had an impact on some landlords' immediate plans, with 22% delaying decisions about purchasing additional properties and 16% holding off on remortgaging or refinancing existing borrowing.
A further 14% said they were delaying improvements to existing properties, while 12% were postponing decisions about selling properties, while 11% were waiting before making changes to how their portfolios are owned.
However, despite the concerns expressed about further taxation, more than half of respondents (52%) said they had not delayed any business decisions ahead of the Budget, suggesting many landlords remain prepared to act despite ongoing uncertainty.
Landlord confidence holds up despite concerns
Despite these concerns, Landbay's survey also suggests landlords remain relatively confident about their own buy-to-let businesses, with more than a quarter (28%) expressing a positive outlook for the next 12 months, up from 22% in the previous survey, while a further 33% remained neutral.
In addition, over a third (34%) still intend to purchase further rental properties over the coming year, suggesting concerns about taxation and the wider economic environment have not resulted in a lack of investment ambition.
With many landlords continuing to invest in and manage their existing portfolios, Landbay said refinancing would remain a significant area of focus over the coming months and into 2027. The lender continues to offer a wide choice of remortgage and product transfer options across its Core, Premier and specialist ranges, supporting landlords with different borrowing requirements, property types and portfolio structures.
Rob Stanton, Sales and Distribution Director at Landbay, said:
“The strength of concern about further tax changes ahead of today's Budget is perhaps not surprising, given everything landlords have already had to contend with over the last decade. However, the fact almost eight in 10 are worried about what the Chancellor might announce today should send a clear message about the importance of providing this community with greater certainty.
“Mortgage interest rates and finance costs remain landlords' single biggest concern, closely followed by further taxation, and this uncertainty is clearly influencing some landlords’ investment and financing decisions. However, it is encouraging that more than half have not delayed any decisions ahead of the Budget, while a significant proportion still intend to purchase additional properties over the next 12 months.
“At Landbay, we continue to see considerable importance in supporting landlords with their existing borrowing, particularly through remortgaging and product transfers. Our focus remains on providing advisers with a broad range of financing options, helping them support clients as they manage their portfolios and plan for the future.
“Ultimately, what landlords need from today's Budget is greater clarity and confidence about the environment in which they are operating, rather than further measures which could make investment decisions even more difficult. We hope the Chancellor does not underestimate the vital role the PRS and landlords play in ensuring we have a fully-functioning housing market, particularly for those who can't, or don't wish to, be homeowners.”
Landbay will continue to run its landlord survey to track landlord sentiment, behaviour and market trends over time.
