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

  • I own a one bedroom apartment but I am hardly there, exploring the possibility of renting it out. The mortgage is with Paragon Mortgages, would I have to switch my mortgage deal or should I try to get consent to let?
  • My fiance and I I have a domestic mortgage with Paragon Mortgages but I would like to occasionally take in lodgers....am I obliged to obtain consent to let from Paragon Mortgages?
  • We have an existing mortgage with Paragon Mortgages and wish to clarify if it would be possible to obtain consent to let out our studio flat in Southwark.

    The purpose for needing to find tenants for the property are are due to: -

    • My family and I will be relocating to Melbourne in 3 months.
    • In renting out the property this will enable us to make some savings to assist with the migration process.
    • There is little merit from a monetary perspective to pay outright for a property which we are not residing in and by letting out the place this would be deemed as continuing investment.

    If Paragon Mortgages agreed that we are able to proceed with renting we would propose some financial assurances which are as follows: -

    • Continue to pay the monthly mortgage payment by standing order.
    • Use an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Supply our forwarding address for when we move.
  • Our present property in Ealing has approximately £120K equity with a mortgage with Paragon Mortgages. It's a 3 bed house in a popular location and I think it would rent easily. We are possibly moving for my husband's work and were considering holding onto the house on as an investment property - would we need to change the loan to a B2L product or can we get consent to let by Paragon Mortgages?
  • How much of my loan allowance will be made available to borrow if I convert my mortgage to a consent to let with Paragon Mortgages?
  • I would like some guidance on how best to approach my mortgage company Paragon Mortgages regarding a 'Consent-to-Let' application. Is this a task you can offer guidance on ?
  • I have spoken to someone at Paragon Mortgages about switching our existing mortgage to consent to let (the current two year fix comes to an end in june 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 send the letter to?
  • My wife and I have a granny flat attached to our property. Do we need consent to let this from Paragon Mortgages? If so, what is the process if I would like to transfer my mortgage to consent to let?