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Need professional advice for your consent to let with Paragon Mortgages Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Questions and Answers: Paragon Mortgages consent to let

  • I am in a pickle with a Consent to Let home loan. In response to requesting consent to let my bank has requested evidence of an executed AST before they will grant permission. Is is not the case that if I adhered to their request that I would be breaching the terms of my existing mortgage?

  • I have been offered a once in a lifetime job opportunity for 9 months overseas. I have enough savings to cover the monthly Paragon Mortgages mortgage yet the buildings insurance requires continuous residency in order not to be invalidated. Last winter the roof was damaged but repaired. If there happened to be any problems during the winter months I would find it hard to cover the remedial works. Will I qualify for consent to let from Paragon Mortgages for a limited period?
  • My partner and I have a flat in Southwark which we acquired as a new-build approximately eight years ago. As we've now got a young son we require a larger place. We've found a property in Greenwich that we're going to buy and want to keep the flat as an investment to rent out. The mortgage is with Paragon Mortgages and we've found a tenant who will pay rent in excess of the monthly mortgage payment. The query is, can we hold onto the repayment mortgage with Paragon Mortgages so we effectively paying off our mortgage on the flat or do we have to move it to a buy-to-let mortgage?
  • I have found myself in the accidental landlord scenario and didnt inform Paragon Mortgages. I had to leave my home for family reasons, so am now based in another part of the country. At first I attempted to sell the flat, but prices were low, resulting in negative equity. This was four years ago in 2011, which has since seen the property price increase and has allowed me time to save. I am in now in a position where I could switch to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Paragon Mortgages that I have been letting without consent to let? I am aware that I shouldn’t have done what I did, but circumstances backed me into a corner. Can I change to a BTL without Paragon Mortgages knowing what I’ve done?
  • We have tenants ready to move in and I have mortgage offer from Paragon Mortgages on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
  • I am potentially moving in with my partner but do not want to to sell my flat. What is the process for getting consent to let from Paragon Mortgages, and how likely is it that this will be given?
  • I wishing to obtain consent to let for my property as I am moving out for six months currently fixed Paragon Mortgages mortgage with two years which is up on June next year.
  • I'm mulling over a remortgage offer with Paragon Mortgages and it's likely I will require consent to let at some point in the fixed period. Are there any fees I should consider?