Landlords remortgaging in the first half of the year withdrew a record amount of equity to expand their portfolios, Paragon Bank has revealed.

The bank’s latest data found that landlords who remortgaged buy-to-let properties between January and June 2025 withdrew £1.94bn to fund portfolio expansion. This is higher than any corresponding period dating back to 2018, when the data began to be recorded.

This total value is the sum of 9,852 remortgage completions where equity was withdrawn during this period.

Paragon said this represents the highest H1 volume during the same seven-year timeframe, excluding the 10,028 recorded in the first half of 2021, which fell against a backdrop of record low interest rates and the stamp duty holiday.

Furthermore, the bank stated that the figures highlight how the value of investment in portfolio expansion has steadily increased by 30% from the first half of 2023 after the impact of the mini-Budget.

Managing director of mortgages at Paragon Bank, Louisa Sedgwick, said: "The growth in equity withdrawal for portfolio expansion suggests that landlords are managing their businesses astutely. Proactively leveraging the capital appreciation enables landlords to strategically reconfigure their portfolios, investing in the propositions that offer the best returns to remain profitable, despite the economic pressures felt across all sectors in recent years.

"With interest rates gradually coming down, remortgaging is likely to continue to make up a substantial volume of lending. By proactively working with landlords and discussing their plans, brokers can identify opportunities to secure business ahead of mortgages maturing."

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