Average mortgage deals now last 11 days as BTL lenders reprice — how London landlords can prepare for remortgage deadlines

The key fact this week is speed: the average mortgage deal shelf-life is about 11 days, according to Moneyfacts. For London landlords, that is less a market curiosity than an operational deadline. If your fixed rate ends in the next three to six months, your property file, EPC, licensing position and ownership paperwork should already be in order, because lenders can reprice before a broker has finished chasing missing documents.

Recent trade reporting indicates a run of selected lender reductions, including from HSBC and NatWest, while Paragon has refreshed parts of its buy-to-let range with rates from 3.55% and lending up to 80% LTV. Paragon has also reintroduced a track-to-fix option on some tracker buy-to-let products, allowing eligible borrowers to switch to a fixed product without an early repayment charge. That is a lender product feature, not a market rumour, but it remains subject to the product’s terms and the borrower’s circumstances.

Why fast repricing matters more than the direction of rates

The main risk is not simply that rates might rise. It is that pricing is moving frequently in both directions. The draft cites Moneyfacts as saying July rises reversed June falls. If you delay in the hope of a slightly cheaper deal, you are making a timing bet in a very short window. On a London property with a large outstanding balance, even a small repricing can alter stress-tested affordability or eliminate the saving you expected from refinancing.

Build a six-month remortgage schedule now

For portfolio landlords and property teams, the immediate task is to create a mortgage expiry schedule for every loan maturing in the next six months. Include:

• lender
• current rate
• early repayment charge end date
• property type
• EPC rating and EPC expiry date
• licence status
• ownership structure

That matters especially in London, where specialist cases are common. HMOs, ex-local authority flats, flats above commercial premises and limited company structures often need tighter packaging and may not fit the fastest mainstream routes.

EPCs and licensing can affect product eligibility

There is no new statutory or regulatory duty in this update. However, lender criteria can still create practical compliance problems if your records are incomplete or inconsistent.

For example, access to a green mortgage or another EPC-linked product will usually depend on having a valid EPC that meets the lender’s threshold, often A to C. If the certificate has expired, or the rating falls below the product requirement, that product may not be available. That is not a legal penalty; it is an eligibility issue that can cost you access to a rate.

The same applies to HMOs and multi-unit properties. Before applying for specialist buy-to-let finance, check that the property meets the lender’s requirements on licensing, fire safety and amenity standards. In London, that means checking not only mandatory HMO licensing but also any local schemes. Boroughs including Newham, Waltham Forest, Brent, Southwark and Haringey have operated additional or selective licensing schemes in recent years, but the scope and renewal dates vary. The practical step is simple: verify the current scheme directly on the relevant council website before submission.

Limited company borrowers should package structure evidence early

Limited company applications are less likely to run smoothly if the borrower structure is unclear. Keep the following in one file:

• Companies House details
• SIC codes, where relevant to the lender
• director identification
• tenancy agreements
• property schedules

If a property is held personally but the next purchase will be through a company, do not assume a broker or underwriter will infer that from older documents. State it clearly at decision-in-principle stage. That reduces the chance of a late decline because the case was keyed under the wrong borrower type.

Arrears data is better, but affordability is still case by case

The draft also refers to UK Finance data showing that arrears and repossessions fell in Q2. That is a useful market indicator, but it should not be overread. It does not mean every remortgage will satisfy current affordability tests, particularly in London where loan sizes are larger and rent-to-interest cover can be tighter on smaller flats or highly leveraged HMOs.

If you have a tracker, confirm switch terms before waiting

For landlords already on a tracker, Paragon’s return of track-to-fix may be strategically useful because it creates an option rather than an immediate commitment. But it is not a reason to delay indefinitely. A switch feature only helps if:

• you monitor pricing actively
• you remain eligible when you decide to switch
• you understand any conditions attached to the move

Check the exact switch terms now, including any notice requirements, valuation conditions or product transfer restrictions.

Three practical actions for London landlords

1. By month-end, list every mortgage expiring by February 2027, and begin option reviews for any loan maturing within six months.
2. Within 14 days, check each property’s EPC expiry date, licence status and tenancy paperwork so you are not trying to assemble documents after a rate is withdrawn.
3. If you hold a Paragon tracker or a similar product, ask your broker this week whether a switch-to-fix without an early repayment charge is available and what evidence would be needed to use it quickly.

Rentals & Sales can help by auditing London portfolio files for remortgage readiness, including EPCs, borough licensing, tenancy paperwork and lender-facing documentation gaps, before submission to a broker or specialist buy-to-let lender.

This article is general information, not mortgage, legal or tax advice; check product terms and take regulated advice before acting.