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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.

Frequently asked questions relating to Paragon Mortgages consent to lease

  • Me and my brother are joint proprietors of a small apartment in Westminster with a Paragon Mortgages mortgage. I want to vacate and purchase a new property with my fiancee. How should I deal with leasing out my room? Do I require consent to let from Paragon Mortgages. My brother will remain in the apartment
  • I currently have a mortgage with Paragon Mortgages and the LTV is presently 45% with the Paragon Mortgages current book value and would like to buy another property but do not want to sell my current property at the current market value. I have had CTL from another lender on a previous property so know a bit about them and I also have buy to let with Mortgage Express on another property. Does the expected rental income on a consent to let with Paragon Mortgages need to be over and above the mortgage repayments? I have a fixed rate which I tied into a fixed rate and left the term at 18 years so it was paid off as early as possible, obviously this leaves with quite a high monthly repayment.
  • We are currently in Dubai and letting out our apartment in Barnet. This was unplanned but an opportunity arose and we took it. The rent received on the flat is insufficient to cover the mortgage so we send back funds each month to cover the difference. Anyway this morning I got a letter in the post from our lender informing me that because the property is being let out and has been for almost three years we will have to pay 1.5% interest in addition to our current mortgage rate. One option would be to sell up but this will not be easy as I am so far away. Would it be possible to remortgage with Paragon Mortgages and get consent to let?
  • My partner and I are expecting any day now a mortgage offer from Paragon Mortgages for a garden flat. I have applied through Right to Buy. It is a 20 year mortgage. I am curious as to what is the main criteria Paragon Mortgages adopt in order to allow borrowers consent to let? Is consent to let based on the rental multiple on a property?
  • When it comes to consent to let from Paragon Mortgages am I obliged to inform them every time we get a new tenant and forward them a duplicate of the tenancy?
  • My lender refuse to grant consent to let until I have a move in date confirmed with a tenant. How can I confirm this whilst lacking consent to let? I can't be certain but I think my friend had a similar issue with Paragon Mortgages.
  • I have a mortgage with Paragon Mortgages at the moment and just wondering if there any fees for obtaining consent to let
  • Our Paragon Mortgages mortgage is coming up for renewal. We would like to apply for a new fixed rate mortgage and then seek consent-to-let. Is this possible? We don't use the house much now that our kids are growing up, and would be better used as a rental.