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FAQ / Mortgage questions

Settling your mortgage, porting, early repayment and product switches

How do I get in touch with Paragon after my loan has completed?

Once your loan has completed and you’d like to contact us, you can call 0345 149 7750. Our UK based Customer Servicing team are happy to help with any questions you may have.


Is porting available on Paragon second charge mortgages?

Unfortunately, we do not offer this service and we are therefore unable to transfer your loan to a different property. If you are moving home, you will need to repay your loan either from your own funds or through a mortgage to a different lender.


Do I need to settle my loan if I move house?

Yes, you will need to settle your loan if you move house. This can either be from your own funds or through a mortgage to a different lender.


Can I settle my agreement early?

Yes, you can settle your agreement at any time. To get a settlement figure, please call our Customer Servicing team on 0345 149 7750.


How can I make a payment to settle my agreement?

If you would like to settle your agreement with us, please call us on 0345 149 7750 to request a settlement figure. Once you have received your settlement figure, there are a number of ways you can pay it. The quickest and easiest way is by electronic bank transfer. We will send you our bank details with your settlement statement.

Alternatively you can call our Customer Servicing team on 0345 149 7750 and make a payment by debit card.


Why is my settlement figure different from the balance of my loan?

If you decide to settle your second charge mortgage before the end of your agreement, you may have to pay us an early repayment charge. Your offer letter will explain if and when any early redemption charges apply to your loan and how this is calculated.


My initial product term has ended, can I switch to a new product with you?

Unfortunately, we no longer offer product switches for our second charge mortgage customers. However, you may find that another lender is able to offer you an alternative mortgage product.

You may wish to seek advice from an independent mortgage adviser as they will be able to advise you on whether switching to a new product is right for you. The FCA has information to help you find an independent financial adviser available on their website fca.org.uk/consumers/finding-adviser.

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