One in five landlords own property through a limited company according to the latest landlord trends research from Pegasus Insight.
The data, collected from 794 online interviews with current NRLA member landlords, found that 7% of landlords have their entire rental portfolio held within in a limited company, while 13% have a mix of individually-held and incorporated properties.
Pegasus found that the average proportion of a limited company landlord’s portfolio held in this way has more than doubled to 74% in Q2 2025.
The market researcher said this increase was primarily driven by landlords incorporating at the point of new rental property purchase.
Incorporation is most common among portfolio landlords with four or more BTL mortgages, with 34% of them having at least one incorporated property.
However, Pegasus’ research highlights that awareness of the specialist lenders operating in this market remains relatively low, suggesting that many landlord borrowers may not be fully informed about the options available.
Mark Long, founder and director of Pegasus Insight (pictured above), commented: “Limited company ownership has moved from the fringes of the BTL market to the mainstream.
“The incorporation model is especially attractive for portfolio landlords, who are typically higher-rate taxpayers and therefore more sensitive to tax changes.
“These landlords tend to be larger, more sophisticated operators, and critically, they are more likely to be active borrowers. That makes them a vital audience for lenders and brokers alike.
“At the same time, our research shows that awareness of the limited company mortgage market is still patchy. Many landlords don’t have a clear picture of which lenders are active in this space or the range of products available.
“For advisers, that’s both a challenge and an opportunity. With incorporation continuing to gain traction, there’s considerable scope for lenders to raise their profile and for brokers to add real value by steering clients through the complexity of limited company borrowing, while never straying into the realms of giving tax advice themselves.
“Ensuring that landlords are fully supported in this segment will be crucial for sustaining BTL activity in the years ahead.”
