Insights into the Evolving Landscape of Property Finance

A recent Landlord Today report forecasting a surge in buy-to-let remortgaging for 2027 led us to examine the developments already unfolding in the property finance market.

In essence, what lay behind the initial narrative?

Partnering with Propalt, a UK property data platform, we analyzed Companies House records of charges registered against companies that own properties in England and Wales.

The analysis uncovered notable trends, such as a rising share of registrations from smaller property companies and considerable shifts in activity among both established and emerging lenders.

Below are two key stories derived from this research.

Smaller companies driving borrowing activity

Smaller property companies are increasingly responsible for a larger share of registered charges, providing valuable insight for letting agents worried about the future of the private rented sector.

Propalt’s analysis revealed that companies owning between one and four properties accounted for 57% of the charges registered against property‑owning companies in England and Wales during the first seven months of 2026.

This represents an increase from 52% in 2023.

These findings emerge amid ongoing concerns that landlords may exit the private rented sector due to rising costs, taxes, and regulatory pressures.

Nevertheless, the data do not confirm whether additional landlords are entering the market, but they indicate that financing activity among smaller property companies remains robust.

For letting agents—who often rely on relationships with landlords managing modest portfolios—these figures offer another perspective on a market frequently reported as landlords selling up.

Propalt’s analysis of Companies House records showed that charges against companies holding a single property rose by 65% between 2023 and 2025, increasing from 19,276 to 31,795.

In contrast, registrations for companies holding 100 or more properties remained virtually unchanged, at 3,721 in 2023 and 3,718 in 2025.

The broader market has also experienced significant growth.

Registered charges rose from 107,381 in 2024 to 126,932 in 2025, with the first seven months of 2026 recording a further 7.4% increase over the same period in the previous year.

Notwithstanding this growth, the average number of charges per company stayed steady at roughly 1.9 in both 2024 and 2025.

Propalt also found that 27,309 companies registered their first charge in 2025, accounting for 41% of all charged companies that year.

The findings suggest sustained activity among smaller property‑owning businesses, though the figures do not reveal the extent to which this reflects new investment, refinancing, or changes in ownership structures.

Coventry and Lloyds make major gains in company lending market

Two major financial institutions have significantly expanded their presence in the limited‑company buy‑to‑let market, according to Propalt’s research.

BM Solutions, Lloyds Banking Group’s established buy‑to‑let brand, has quickly entered the top ten lenders by registered charges, less than a year after launching its limited‑company mortgage proposition in July 2025.

Propalt found that BM Solutions registered 2,091 charges against property‑owning companies in the first seven months of 2026, compared with zero in the same period of the previous year.

Meanwhile, Godiva Mortgages, part of Coventry Building Society, recorded 2,772 charges from January to July, up from 188 in the same period of 2025.

Together, the two brands accounted for 4,863 registered charges, which is 6.4% of the overall market.

This expansion follows declines in charge registrations reported by several established specialist lenders.

Aldermore registered 3,823 charges between January and July, a 14% year‑on‑year decrease, while Paragon Bank recorded 2,868, down 9%.

OSB Group, which encompasses Precise Mortgages and Kent Reliance, experienced an 8% decline in registrations.

Conversely, total charge registrations against property‑owning companies rose by 7.4% over the same period.

The Mortgage Works, part of Nationwide, remained the largest individual lender by registrations, with 6,735 charges, closely followed by Together with 6,725.

Lloyds Banking Group’s combined total, comprising Lloyds Bank and BM Solutions, reached 3,738 registrations, placing it fourth among lender groups in Propalt’s figures.

For estate agents engaged in investment property transactions, the shifting registration pattern offers insight into the developing market for limited‑company property finance.

Greater lender activity expanding into this market may be especially relevant to agents working with landlords looking to acquire properties or refinance existing portfolios.

However, the figures do not indicate whether individual lenders are offering more competitive mortgage terms or if borrowers are switching providers.

Propalt’s analysis is based on Companies House charges registered against property‑owning companies in England and Wales, measuring registered security interests rather than mortgage advances or the amounts lent.

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