Need Help?

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

  • Will Paragon Mortgages exercise a right to change the rates on a residential mortgage where Consent to Let at any time, onto ‘rates equivalent to their Buy to Let products'?

  • If push comes to shove what action Paragon Mortgages can take if I have Sublet my flat without consent to let?

  • I am planning to write to my lender Paragon Mortgages explaining the following reasoning for my request for consent to let ; "I am having difficulties with the mortgage and want to move back with my parents but can't sell. I wish to avoid defaulting on the mortgage and have thought about giving back the property to you. If I had consent to let this will likely solve things." What are the chances that this will result in a positive response?
  • My brother is intent on letting his flat out on the QT without consent to let via his mortgage lender Paragon Mortgages. He has been on an interest only mortgage since 2010. Outstanding amount due is £110k, having paid for the apartment for around £110k. In the absence of receiving consent to let from Paragon Mortgages, exactly what sanctions is he likely to face?
  • Were we to request a consent to let letter from Paragon Mortgages will we be made to switch to buy to let mortgage? Our mortgage is with Paragon Mortgages and as houses are not selling at the mo but we have seen one we like we were going to rent our home out in order to purchase the new and dispose of this one when the market improves.
  • My partner is in the process of buying a new property in Bromley and is getting a good deal as it needs renovating. We want to rent our current property for two years and come back to live. Is there anything in the Terms and Conditions of my Paragon Mortgages mortgage allowing me to rent it out or do I require specific consent to let?
  • My wife and I spoken to someone at Paragon Mortgages about switching our existing homeloan to consent to let (the current 2 year fix comes to an end in september next year). Can I just confirm that I need to formally put the request in writing setting out our change in circumstance to Paragon Mortgages? Where do I need to post it to?
  • Can you tell me how much the fees are and if Paragon Mortgages typically grant consent to let without switching to a commercial rate?