Buy to Let - Paragon Mortgages Ltd Conveyancing Requirements for Properties Let at Completion

Paragon Mortgages Ltd buy-to-let obligations are expressed in Part 1 of the Council of Mortgage Lenders’ Handbook which provides that unless it is clear from the mortgage offer that the property is tenanted or is to be let at completion then you must check with Paragon Mortgages Ltd as to whether Paragon Mortgages Ltd lend on "buy-to-let" premises and that the mortgage is for that purpose.

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Last updated on 30/08/2023 Section Two of the UK Finance Lenders’ Handbook for Paragon Mortgages Ltd deals with who you need to contact If different from paragraph 1.11, i.e the contact point if property is let or to be let. It also deals with whether Paragon Mortgages Ltd lend on buy-to-let

As 1.11a. See also our Supplemental Instructions and Guidance Notes, together with our Mortgage Conditions and General and Special Conditions accompanying our Offer.

If the residence, or part of it, is already let, or is to be let at completion, then the letting must comply with the details set out in the Paragon Mortgages Ltd mortgage offer or any consent to let Paragon Mortgages Ltd issue. If the letting fails to comply, or no such details are specified, you are obliged disclose the position to Paragon Mortgages Ltd

Part 2 of the UK Finance Lenders’ Handbook for Paragon Mortgages Ltd deals with who you must contact If different from 1.11, i.e the contact point when you do not have details of current letting or letting to take place at completion:

As 1.11a. See also our Supplemental Instructions and Guidance Notes, together with our Mortgage Conditions and General and Special Conditions accompanying our Offer.

Property lawyers on the Paragon Mortgages Ltd conveyancing panel,when it comes to buy to let properties need to check Part 2 of the UK Finance Lenders’ Handbook as to whether counterparts or certified copies of all tenancy agreements and leases in respect of existing tenancies must be sent to Paragon Mortgages Ltd after completion

In considering whether the lender requires a certified copy letting contract to be sent Paragon Mortgages Ltd says:

Yes - please place with deeds.

The information contained within this webpage is for general information purposes only for lawyers in England and Wales, it does not constitute advice and you should always check the UK Finance Lenders’ Handbook for Paragon Mortgages Ltd Buy to Let requirements as well as the mortgage offer. Whilst we endeavour to keep the information up to date and correct but does not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information. The same caveat applies to members of the public looking at this page. If you wish to find a buy to let conveyancing specialist on the Paragon Mortgages Ltd panel or a buy to let mortgage broker click here.