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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.
Recently asked questions relating to Paragon Mortgages consent to lease
- For nine I have a I have had a mortgage with Paragon Mortgages. My other half has purchased a house in Islington and he has asked me to move in with him. Is it possible for me to rent out my apartment with consent to let in case I need to move back? Also what legal documents must I provide Paragon Mortgages with when filling in the consent to let form?
- My granddaughter is going to work overseas for twelve months and would like to rent her property out. She has a Paragon Mortgages fixed rate mortgage on repayment and wants consent to let the property as well as switch to interest only. What does she need to do?
- I have a property in Havering with a Paragon Mortgages mortgage but have not lived there for a while. My dad moved in but is there rent free. At the moment I live in rented premises and am looking to purchase a house. I have come across a dream property at an attractive price. I have sufficient for a deposit to put down on the house I am interested in but would be a financial strain to pay enough off the old property to switch it to a buy to let mortgage simultaneously. Can I change the current Paragon Mortgages mortgage for my old flat into a consent to let and use my savings to pay a larger deposit for the domestic mortgage on the property that I am looking to purchase?
- Me and my husband are in a complex mortgage scenario in the last couple of month. We have to rent our house with consent to let and move to a different location due to schooling. We now rent a house. We are finding it very difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- I would like to send the consent to let form by courier and need to know if Paragon Mortgages have a regular postal address I can use as couriers ordinarily don’t accept deliveries to PO Box numbers.
- My fiance and I have a letter to Paragon Mortgages requesting consent to let signed and ready, but I'm not sure what address I should mail this to. Can you please help me with the address?
- I want to take in in a lodger for my maisonette in Lewisham which I live in. My mortgage is with Paragon Mortgages. How do I go about getting a consent to let?
- I would like to find out more about obtaining consent to let on a property. In particular what is the procedure for consent to let if you have a homeowner mortgage with Paragon Mortgages
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Paragon Mortgages consent to let Questions and Answers
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
One thing to remember when arranging a consent to let mortgage with Paragon Mortgages is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Paragon Mortgages