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The private rented sector is entering 2026 in a markedly different mood to previous years.
Aldermore’s Buy to Let 2026 research* shows a market that remains fundamentally active and commercially viable, but where confidence has softened and decision making has slowed. For brokers, that shift matters, not because landlords are disengaging, but because the nature of the support they need is changing.
UK landlords, on average, have spent 11 years operating in the sector, with more than two in five having over a decade of experience. These are seasoned investors who have lived through interest rate cycles, regulatory change and shifting political narratives.
That history matters, because it explains why current behaviour is not panicked. While 31% say they are considering exiting the sector, that figure has held steady year on year. Crucially, far fewer landlords are acting on that consideration. Only 22% have sold part of their portfolio, and those who did sold an average of just under a third of their holdings.
What the data suggests is not a rush for the door, but a reassessment of risk, effort and long term reward.
Underneath the caution, performance indicators remain broadly positive:
The proportion of landlords making, or close to making, a financial loss has fallen to 25%, down from 31% the year before.
Yet optimism has dipped. Fewer than half of landlords now describe themselves as optimistic about the future, and two thirds said it is harder to be a landlord this year than last.
This gap between performance and confidence is where brokers increasingly sit.
The research makes it clear that caution is not being driven by weak demand. Almost half of landlords (47%) report rising tenant demand, and 76% increased rents in the past year, albeit at a slower pace than in 2024.
Instead, pressure is coming from elsewhere:
Alongside these practical concerns sits a deeper confidence issue. 58% of landlords say they lack confidence in the current Government’s approach to the sector, creating uncertainty about what further changes might lie ahead.
One of the more grounding findings in the research relates to renters themselves. Tenancies are lasting longer, with renters now staying in their homes for an average of 4.5 years. Only 23% have been in their current property for under a year.
Longer tenancies translate into more predictable cashflow and fewer voids, an important counterweight to the narrative of instability. For brokers, this provides a factual anchor: while policy and sentiment are volatile, day to day rental dynamics are relatively stable.
Against this backdrop, broker conversations are becoming less transactional and more reflective. Advisers are increasingly helping landlords:
In many cases, the most valuable broker input is not a product recommendation, but perspective — helping landlords decide when action is necessary and when patience is prudent.
The research also shows landlords are not universally resistant to change. Large majorities support professional standards such as applying the Decent Homes Standard and introducing Awaab’s Law. That suggests landlords want clarity and fairness, even if they are wary of cumulative pressure.
Brokers are often best placed to bridge the gap between policy intent and practical reality, translating reform into workable outcomes rather than abstract risk.
As decisions slow and stakes rise, brokers benefit from working with lenders who understand landlord behaviour as well as balance sheets. Clear communication, consistent appetite and an ability to assess cases holistically all help brokers provide reassurance at a time when confidence is fragile.
Landlords in 2026 are less likely to be impulsive, and more likely to be reflective. Brokers who can support that reflection, grounded in evidence rather than emotion, are helping preserve a sector that remains essential to the UK’s housing supply.
* Survey conducted by Opinium for Aldermore and Lansons among 500 landlords and 2,000 renters, 10–20 February 2026.