The Lemon Fool

Hello

Can anyone recommend either a bank/lender or a broker for HMO mortgages? My wife and I own one house that we let to students (own outright) and have seen a new one that we'd like to buy, but this time will require a mortgage. I've googled away and a bunch of companies come up, but would much rather go with a personal recommendation

Thanks in advance,

Paragon are a specialist in the BTL market. I have three mortgages with them and I have not had any complaints. Their annual statements are based on an April-March year, making provision of the interest charge for self-assessment purposes a doddle compared to other providers.

Avoid, like the plague, any mortgage provider whose administration is undertaken by a company called Acenden. Uniquely, in my experience, Acenden require proof each year that the mortgaged property has a relevant buildings insurance policy in place. Without such proof, they will go ahead and organise one at the mortgage payer's expense, no doubt earning a nice fat commission for themselves along the way. They administer this process so badly, that I had cause to write to their MD and last year received £150 as compensation for having to suffer their endless cockups with this process.