The value of gross mortgage advances fell 12.3 percent to £69.6 billion in the first quarter of 2026, but the Bank of England said new mortgage commitments rose 11.5 percent to £78 billion. For landlords, that mix points to a market that was slower at the start of the year but still building lending demand underneath.
The quarterly Mortgage Lenders and Administrators Statistics also showed buy-to-let lending edging higher as a share of the market. That matters because it suggests landlord borrowing has not disappeared, even after weeks of pricing volatility and political pressure on the sector.
Why it matters now is that many landlords are moving into refinancing or selective buying rather than broad expansion. A softer completed-lending number can look weak in isolation, but the commitments data gives a better guide to what lenders may actually be writing in the coming months.
Commitments rose even as completed lending fell
The Bank’s figures are affected by timing. Gross advances record money that has already completed, while commitments capture loans approved for future drawdown. That helps explain why the quarter can show a fall in completed lending alongside stronger forward activity.
For landlords, the more useful takeaway is that credit demand has not stalled altogether. Some borrowers are still waiting for lower pricing, but others are clearly pushing ahead, particularly where refinancing deadlines are approaching or rental income still supports the deal. The same set of figures also showed more mortgages being written at rates further above Bank Rate than a year earlier, underlining that borrowing remains expensive by recent standards.
This follows Landlord Knowledge’s report on the FCA’s mortgage rule review, which looked at how lenders and regulators are trying to improve access to borrowing. The latest Bank of England numbers suggest demand is still there, but affordability remains tight.
What the figures say about buy-to-let lending
Although the buy-to-let market is still smaller than its pre-rate shock peaks, it has remained more resilient than some landlords expected. A modest rise in BTL’s share of gross lending suggests investors are still active where yields stack up, especially in remortgage cases and selective purchases rather than aggressive portfolio expansion.
That matters because the second half of 2026 is shaping up as a practical, not speculative, market. Many landlords are no longer chasing growth for its own sake. They are trying to protect margin, keep monthly payments manageable and wait for a cleaner path on rates. The Bank of England’s Q1 mortgage lenders and administrators release supports that reading.
What this means for landlords
- If you’re remortgaging in 2026: lender appetite is still there, but affordability tests remain demanding and product timing matters.
- Watch for: whether commitments convert into stronger completed lending over the summer, especially if swap-rate pressure eases.
- Bottom line: landlord borrowing has not frozen, but this is a market for careful finance decisions rather than rushed expansion.
Editor’s view
The headline fall in gross lending is only half the story. Landlords should pay closer attention to commitments and to the BTL share of lending, because that is where the market’s real confidence – or lack of it – tends to show first.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 10 June 2026
Sources: Bank of England
Related reading: FCA mortgage rule review could widen buyer pool for landlords
