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Bank of England
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Paragon Banking Group PLC (PAG.L)
LSE - LSE Delayed price. Currency in GBp (0.01 GBP)
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Buy-to-let property is on shaky grounds. Recent extension of notice period to 6 months will allow non-payers to live rent free and then get 3 more months while landlords go through county courts. Landlords will lose a year of income. Many Paragon mortgages will go unpaid. Tough times ahead.
I worry that CV19 will create job losses among those living in shared houses. This could result in lack of rent, which forces landlord to miss mortgage payments. If there are many BTL repossessions, Paragon will suffer.
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