Expat refugee commercial lease remortgage?

I live in Australia and have a residential BTL changed from a HMO about 5 years ago. The new tenant is a commercial lease with a company that houses refugees.

The property is kept immaculately and I have visited it myself to see this in Dec 2023.

The mortgage term expires in 2025 and it was interest only but we want to change it to repayment. I need to refinance but I am struggling to find a lender. For some reason “Commercial Tenant Leases” are frowned upon. And further, the fact I have refugees is a major red flag for lenders.

The issue I have is the HMO tenants treated my property appallingly. I have found the refugees treat the property with a great deal of respect and it is well cared for.

Why can’t I find a lender to take this re-mortgage on? The Loan to Value is only 60% and I have years of track record showing mortgage payments are always made and never missed.

The rental income is good too.

Can anyone help me?

Dean

Editor’s Note: If it is possible to finance our team at Brooklands Commercial Finance will know, but they will need to complete a full fact find first.

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