General (main property discussion here) - Mortgage with Asylum Seeker tenants?

Can anyone please tell me if there are any mortgage companies that would offer a mortgate on a property let out to the Home Office for Asylum Seekers?

And if any such lender exists, who are they?

Thanks in advance...

Have you tried Paragon Mortgages 0800 375777.

Why would any company discriminate based on what type of tenant is going to be in the property? Why would they even ask? AS long as there is a 15% deposit and the rent covers 120-130% of the mortgage, why should there be a problem?

1) Mortgage companies consider thes types of tenants as a higher risk. 2) There chance to make more monies.

Asylum seekers are considered higher risk you are right. To be honest it is all predjudice.

From a lenders point of view, they are looking for solid tenants who WILL ACTUALLY stay to pay the rent to cover 120-130% of the mortgage in the first place. An empty property is worthless.

Lenders rarely lend on property rented out to pyromaniacs too!

Main problem with these types of properties is that they are Leases rather than AST's. If the property is under a three year or five year lease and the owner is not paying the mortgage then it is much more difficult to get the property sold to repay the debt, hence the reluctance, or inclusion of conditions on mortgage, increased rates. This was the main reason I kept away, even though financially it looked a better deal than normal BTL