Intermediary FAQs

We’ve put the answers to intermediaries frequently asked questions in one place to help you find what you need.

If I have a question about my Mortgage application, who should I contact?

If you have a query about a current or new mortgage application, please contact our Customer Relationship team at [email protected] or call us on 0345 849 4040

Do you accept applications from limited companies and limited liability partnerships (LLPs)?

Yes, head over to our limited company lending page for more information or download our buy-to-let lending guidelines for our full criteria. 

Do you accept applications from first time buyers?

No, unfortunately our products are not available for first-time buyers.

Do you lend on Houses in multiple occupation and Multi-unit blocks?

Yes, head over to our HMO and multi-unit block page for more information or download our buy-to-let lending guidelines for our full criteria. 

What is the minimum and maximum age limit for applicants?

An applicant must be a minimum of 21 years of age, and a maximum of 85 years of age at the end of the mortgage term.

Do you have a minimum income requirement?

Applicants should have a minimum combined gross annual income of £25,000 per annum.

However, we understand the specialist nature of a landlords’ income structure. So, where a landlord or limited company has four or more properties, and can’t meet the £25,000 minimum income, but can demonstrate they have sufficient income to cover their existing expenditure, we will consider and assess these applications on a case-by-case basis.

For full details of our income criteria, please see our lending guidelines.

Is there a minimum loan amount?

Yes, the minimum loan amount (excluding any fees added to the loan)​ is £30,000 and for further advances, it’s £5,000.

What is your maximum aggregate borrowing amount?

For individuals with three or fewer single self-contained (SSC) mortgaged buy-to-let properties, a lending limit of £1,000,000 (including any fees added to the loans) will apply.

For individuals with four or more mortgaged buy-to-let properties, limited companies and applications for Houses in Multiple Occupation (HMO) or multi-unit blocks, a lending limit of £10,000,000 (including any fees added to the loans) will apply.

Will Paragon consider properties that appear as excluded in your lending guidelines?

Yes, on an individual basis we can refer properties to our Regional Surveying team. Please contact our Customer Relationship team on 0345 849 4040 for more information.

Does Paragon have a standard underwriting documents package?

No. When the application has been reviewed by an underwriter, an email will be sent requesting the specific documentation required to support the case.

How can I amend incorrect information on the online application?

Unfortunately, once you have agreed to the credit search on the online application, you are unable to amend the information you have provided. If the incorrect information has put the case outside of our lending criteria, please call our Customer Relationship team on 0345 849 4040, who will advise the best way to progress that particular case.

I'm currently completing an online application and it has asked me to ring the Customer Relationship team, why?

This could be for two reasons. When completing the credit search it has either been referred or declined, or you have entered something which falls outside of our lending criteria. If this message pops up, then call the number and quote your reference number, and someone will be there to help.

I'm currently submitting a web application and I can't find the save button

Once you have passed the credit check, the system will automatically save your application from the last completed page. To resume, log back in and click through to web applications.

What time do I have to submit my online application by?

All applications made through the portal must be submitted by 10pm (and 8pm on Sundays) to allow for overnight processing.

How long do I have to complete an application?

From submission of your application, a case must reach offer stage within three months. Therefore, please make sure you send us any additional information as soon as possible.

If you do not receive an offer within this timeframe, you will need to select a new product which will be subject to any changes in affordability and a further review from our Underwriting team.

Once an offer is issued, it will remain valid for three months.

Motor finance
How much can a customer can borrow?

The minimum amount a customer can borrow is £2,500

The maximum amount a customer can borrow is £150,000

What is the minimum loan term?

The minimum loan term is 12 months.

What is the maximum loan term?

The maximum loan term is 60 months.

How can payments be made?

Payments should be made by Direct Debit - the Direct Debit form must be completed as part of the online application.

When will I get a decision on my proposals?

Instant automated decisions – Accept or Decline - are provided, following completion of the application process. If the case is referred for manual underwriting, we promise to get back to you within two working hours of receiving the application.

What happens if customers are declined?

You can call our Motor Finance Team on 0345 149 7777 or email us at [email protected] to request a case review by an underwriter.

I am unable to log onto the application system, what do I need to do?

Please call our Motor Finance Team on 0345 149 7777 and we will be happy to help you.​

Do you accept weekly payments?

No, payments must be paid monthly by Direct Debit.

How do customers get a settlement figure?

They can call our Motor Finance Servicing Team on 0345 149 7770. We are happy to help.​

When and how will I get paid?

Completed documents received by 12 noon, will be paid out on the same day. You will receive your payout funds and any commission due electronically.

How will I know I have been paid?

Once we have made your payment, you will receive an email to confirm the payment details.

Do you accept provisional driving licences?

No, we only accept full UK driving licences.

Can a customer change their payment date?

Yes, depending on the type of agreement they have, they can change their payment date annually by calling our Motor Finance Servicing Team on 0345 149 7770.​

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551