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How Devon is growing her BTL business
By Jordan Lott for Paragon Bank
March 2026
Younger, newer landlords are approaching buy-to-let with a business mindset - targeted acquisitions, professional standards and, increasingly, limited company ownership. Devon’s journey shows why this structure is becoming the default for the next generation. Devon is one of a growing number of next generation landlords, an example of the entrepreneurial younger investors who see bricks and mortar as shrewd long-term assets.
Analysis of sector data, carried out for our report "How limited company ownership is becoming the new normal", indicates that the typical age of landlords financing new property purchases with buy-to-let mortgages declined from 46.4 years in 2014 to 42.9 years by 2023. This downward shift in average age is largely attributed to a rising share of purchases made by landlords in their 30s. Back in 2014, individuals in this age group accounted for 21% of buy-to-let mortgage transactions, a figure that climbed to 31% by 2023.
Devon at home in her kitchen.
These younger landlords are well-informed, drawing on the experience of those that came before them and the wealth of information now available. They operate their lettings businesses like SMEs, with targeted acquisitions often held in limited company structures.
With housing provision running in the family, Devon seemed destined to pursue a career in property investment in some capacity. Sharing how she started out on her landlord journey, Devon said: “My dad, granddad, my uncle and their business partner had a construction company and recognised that they had the skills and network to successfully invest in buy-to-let homes.
“I was involved from an early age, sourcing properties for them when I was around 16. Like most people that age, I didn’t have the money to invest myself, but it was a great way to learn the ropes and it felt very natural for me to step into the sector.”
Research for our report "How limited company lending is becoming the new normal" revealed that the typically younger and newer landlords are more likely to adopt limited company structures for their property holdings than those who are older or more experienced, also doing so earlier on in their landlord careers.
Those aged 25-34 hold an average of 57% of properties in limited companies compared to 21% of landlords aged 65-75. The newest landlords - those with five years or less in the market - hold 80% of their portfolios in limited companies, a share that falls to just 16% for landlords with over 21 years in the sector.
This finding can be seen in Devon’s family. Her father operates a separate lettings business as an individual while she solely purchases through limited companies.
Devon said: “I’d definitely say that investing in buy-to-let through limited companies is more common that it would have been in the past. All my properties are owned in a limited company and have been since I started out as a landlord.
“The market has changed so much with regulatory reforms and increased taxation, so for me it doesn't make sense to own properties in your personal name. I think it's better to hold your investments in a limited company because you can sell company shares rather than the stock and then do succession planning that way.”
Another key aspect of Devon’s strategic investment is where she has bought. She focuses on locations she's familiar with, targeting the property types that meet local demand.
Investing in her hometown, Devon knows the area inside out and has invested to cater to the local market, saying “I know the area has lots of demand for homes amongst families and professionals and these usually make great tenants, so it makes sense to invest in properties that are well suited to them."
Devon has started her portfolio with more simple propositions, saying: “I have single lets, usually two or three bed terraces or semis. “While we're not a luxury provider, the homes we offer are high quality with a high standard of finish but are more affordable than lets that would be considered high end.”
Talking about her future plans for Classhouse, Devon said: “This model has worked really well for us so we plan to expand our portfolio. We’ll continue to do this through Classhouse so, while we’ll obviously choose the mortgage that works best for us when we come to refinance, it’s great to see that Paragon is making it more straightforward to finance property through limited companies.”
Louisa Sedgwick, Managing Director of Mortgages at Paragon Bank, said: “We bought the first buy-to-let mortgages to the market in the mid-nineties and some of the early investors are naturally thinking about stepping back from their lettings businesses. With demand for rented homes expected to remain long-term, it’s reassuring to see the next generation of landlords pick up the baton. If these new landlords are anything like Devon, the future of the private rented sector is in safe hands.
“Although these younger landlords sometimes don’t have the experience of those who have built large portfolios throughout their time in the market, they are savvy, professional and entrepreneurial, with aspirations to grow their businesses. We’re supporting them to do this with refined underwriting that reduces friction in the application process for the simpler cases these landlords often present, even those financing through the once more complex limited company structures.”
