Offices | Retail & Distribution | Manchester | Birmingham | Glasgow | About Us
"Whilst the Renters’ Rights Bill and Stamp Duty changes are major factors currently affecting the Buy to Let market with the media, suggesting that landlords are exiting en masse, our latest research and years of experience in the industry tells a different story. The environment may be changing but landlords are resilient and those that pivot to employing agile strategies can look forward to opportunities over the next 12 months and beyond.
A continued push towards HMOs and co-living spaces, especially in the big cities, points to a desire to maximise space and rental yields, whilst catering for an increasing demand from students and young professionals for affordable options as a shortage in rental stock has forced prices higher.
However, many of the properties that are prime for renovating also fall into the ‘non-standard’ category for many lenders. This can often mean that landlords miss out on great opportunities, such as auction purchases, because the property doesn’t meet their lender’s strict criteria.
That’s why, at Together, our flexible range of Buy to Let mortgages, combined with specialised auction, second charge and bridging options, are designed to help landlords turn potential into profit."
- Tanya Elmaz, Director of Intermediary Sales, Together
Buy to Let in focus
Michelle Walsh, Head of Intermediary Sales at Together, and Jason Berry, Group Sales Director at Crystal Specialist Finance, discuss Buy to Let trends for 2025 in our three-episode series.
Buy to Let trends and opportunities
Top 5 cities
Cities with the most BTL opportunity (exc. London).
Top 3 sectors
Buy to Let sectors that offer opportunity in the next 12 months (up to March 2026).
Leaving the industry
Top 5 reasons BTL landlords gave for wanting to leave the industry (in 2025).
Government announcements
How do landlords think the following government announcements will affect the Buy to Let market?
City insights
- £1,310 average private monthly rent in Manchester (March 2025)
- Planning permission (24%) is the biggest challenge for Manchester’s portfolio landlords surveyed in 2025
- 67% of Manchester’s landlords anticipate increased yields over the next 12 months
Greater Manchester, and the North West in general, continue to surpass national averages for both house prices and rents, making it easy to see why the area has been highlighted as the top hotspot for Buy to Let in 2025.
Manchester landlords surveyed see the most opportunity in purpose built residential Buy to Lets (27%) over the next 12 months. They also pointed to refurbishing properties to change their use (23%), renovating empty properties (23%) and student housing (21%) as attractive asset classes for investment.
Student housing in Manchester
Student housing and HMOs look set to be key opportunities for landlords, as Manchester’s academic facilities, vibrant culture, and growing tech and media industries continue to attract and retain students, graduates and young professionals.
Although the city has a healthy pipeline of Purpose Built Student Accommodation (PBSA) including developments by X1 and Vita Group. With currently 2.5 students per bed, demand for the vital rental accommodation is set to see further opportunity-seeking investors get involved in the sector. Landlords with HMO properties could capitalise on this demand delivering higher yields compared to typical Buy to Lets, and providing options for graduates remaining in Manchester once they transition to the workforce.
Find out how specialist Buy to Let and HMO mortgages can help you achieve your rental ambitions.
City insights
- £1,050 average private monthly rent in Birmingham (March 2025)
- 20% of landlords said that Social Housing and community spaces provided opportunities in the next 12 months.
- 82% of Birmingham landlords think rental yields will increase over the next 12 months.
- 81% of Birmingham landlords feel positive about EPC ratings changes
- 23% believe further government policy changes on Buy to Let would be the biggest challenge for landlords.
For Buy to Let landlords, Birmingham is a city with a lot to offer. The UK’s second largest city has a young, dynamic and diverse population, opening up a lot of opportunities for property investors looking to diversify their portfolios. In Birmingham, 47% of households are renting, accounting for 196,798 rental properties across the area.
Our survey suggests that landlords living and investing in the area see student housing (23%) and energy efficient homes and renovations (21%) as the most attractive prospects in 2025.
Social housing lets in Birmingham
Like many UK cities, Birmingham has a chronic undersupply of social housing stock. In February 2025, applicants on the social housing register had to wait an average of 70 weeks before being provided a rental property, with the City Council stating that only 8% of applicants were successfully placed in the last year.
Landlords concerned about the Renters’ Rights Bill changes to Assured Shorthold Tenancy agreements (ASTs), and the potential for more voids, could seek to rent their portfolios to the council or registered social housing associations as a way of guaranteeing income streams over an agreed period.
At Together, we are proud to support social housing landlords and providers throughout the UK. Get in touch to find out how a trusted finance partner can help you deliver safe and secure homes for the people in our communities that need it most.
City insights
- 2,501 properties in Glasgow City were empty for more than 6 months in 2024 (Dec 2024)
- 30% of landlords want the government to prioritise grants, funding and incentives to support property conversions.
- 27% of landlords think Stamp Duty increases would be their biggest challenge in the next 12 months.
- 1/3 of landlords use or plan to use rental income to buy a personal property to live in.
Glasgow provides Buy to Let investors with a unique opportunity, when compared to English cities and Edinburgh. With average house prices of £183,000, properties in the city are much more affordable, whilst the rental average (£1,216) is comparable or higher than cities such as Birmingham.
Growing investment in the local area is expected to attract more job seekers to the region, which, in turn, will increase the need for more rental properties, boosting rental prices and prompting house prices to rise. Landlords in Glasgow highlighted energy efficient homes (28%), along with HMOs and shared living spaces (21%) as two areas with investment potential in 2025.
As well as sizeable investment in the job sector, many areas of Glasgow have benefited from urban regeneration in recent years. Large-scale projects around the city centre look set to revitalise both residential and commercial opportunities, whilst projects in areas such as Govan and Calton could see them become the next hotspots for renters.
Renovating properties to let in Glasgow
Another advantage of lower house prices in comparison with other cities, and higher rental yields is that Glasgow-based landlords could access more capital to invest back into renovations; making their property more attractive to prospective tenants, increasing the value, and future-proofing against regulatory changes such as EPC requirements.
Buying at auction can be a great way to purchase properties with capital-growth potential, often at a lower price point than through more traditional methods. However, as many of these buildings need considerable renovation, it can be difficult to access the finance required through high street lenders. This can be due to the property being deemed ‘non-standard’ and the speed at which funds need to be available.
Specialist lenders, with flexible products such as bridging, can help landlords acquire these property types, making swift lending decisions and funds available quickly in order to make the required improvements to qualify for a lower-rate standard Buy to Let mortgage.
Check out how a residential bridging loan can get you from opportunity to investment.
Offices | Retail & Distribution | Manchester | Birmingham | Glasgow | About Us
Any property used as security, including your home, may be repossessed if you don’t repay your mortgage.
Together is a trading style of each of the undernoted companies, which have their registered office address at Lake View, Lakeside, Cheadle, Cheshire SK8 3GW. Together Commercial Finance Limited | Registered in England and Wales - Company Registration Number 02058813.