More than 80% of landlords view the buy-to-let (BTL) market as unstable or unpredictable following recent mortgage market turbulence, according to new research from Landbay, with growing demand for certainty and consistency from lenders amid ongoing volatility.

The survey found that recent fluctuations in rates and product availability have affected landlord behaviour, with 35.3% reducing their activity and 21.8% delaying investment plans altogether. Nearly half of respondents said their confidence in accessing BTL finance had worsened in recent months, although many still believe funding remains available.

Concerns over product choice also remain widespread, with more than half of landlords describing current BTL product availability as limited. However, Landbay did note that lenders have begun reintroducing products and pricing has become more stable in recent weeks.

Landbay said the results reflected the disruption seen across the market during March and April. Despite market disruption, borrowing activity remains strong. Almost half of landlords had either completed a BTL mortgage in the previous month or were currently progressing an application.

While competitive pricing remains the most important factor landlords look for from lenders, the survey found growing emphasis is now being placed on certainty, consistency and communication.

Over two-thirds (66.2%) said competitive rates remained most important; 44.4% highlighted certainty once a mortgage offer had been issued, while 36.1% said stability of pricing during the application process mattered most. A further 34.6% pointed to consistent product availability as a key requirement.

Rob Stanton, sales and distribution director at Landbay, said: “What comes through very clearly is landlords remain active and engaged with the market, but they are placing much greater value on certainty, consistency and communication from lenders and advisers. While rates remain incredibly important, landlords also want confidence that products will remain available, that cases will progress smoothly and they can rely on lenders to support them through periods of market volatility.”

The survey also acknowledged the continued importance of brokers, with more than 82% of respondents using an adviser from the outset and nearly 10% turning to a broker after initially attempting to arrange finance themselves.

While competitive rates remain the primary consideration for landlords, the research revealed an increasing focus on reliability throughout the mortgage process. Landlords said certainty after a mortgage offer is issued, pricing stability and consistent product availability are becoming almost as important as headline rates.

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