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HMO Landlord

“I have used Simon’s services for several times over numerous projects. Having spoken to other brokers operating within the property sector, it is evident that Simon’s in depth knowledge of lending is second to none. He really does know the market and suitable products for individual projects.

I have always found him pleasant to speak to, very straightforward and easy to liaise with hence why I have stuck with him year after year.”

Berkshire based Landlord.

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First Time Landlord

Always good to see a first-time landlord get their first property and great feedback is always welcome. This was a bridge to let product for a client based in Hampshire on a property worth £200,000.

” We completed the re mortgage today, funds received. I wanted to say a huge thank you for all of your work on this project. Now we have cut our teeth I am excited to grow the portfolio. It will be a pleasure continuing to work with Searchlight Finance!”

 

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Limited Company BTL Advice

Thanks to a Kent based landlord  for these comments.

” Just come off the phone with Simon Allen from Searchlight Finance discussing financing options available following incorporation.

Simon is a subject matter expert who is passionate about his profession and is a thoroughly nice bloke.

Highly recommended if you need to talk to a broker who genuinely has time for his clients and can clearly help with your chosen investment strategy.”

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What Shawbrook’s clients say about us.

Shawbrook Bank surveyed their clients asking what they thought of the broker that dealt with their property finance application. They published eight of these replies and we’re proud to say that two were ours. It’s all anonymous so thank you whoever you are.

“Simon at Searchlight Finance was hugely knowledgeable and efficient”

“Excellent communication throughout from Searchlight Finance ”

Shawbrook said “it is so fulfilling for our teams to see exceptional feedback such as this”

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BTL Mortgages for Professional Landlords

One of our BTL lenders for professional landlords:

  • Up to 80% LTV
  • Standard and specialist buy-to-let products for all types of landlord (including limited companies)
  • Single residential units, HMOs and multi freeholds
  • Choice of competitive fixed and variable rates
  • No portfolio limits
  • Maximum age 85 at end of mortgage term (79 at start of the term)
  • No minimum income required for experienced landlords
  • Capital raising to 80% LTV, to fund portfolio expansion
  • New build and ex-public sector houses accepted

These products are unregulated BTL mortgages and are subject to you and the property meeting their criteria. Please contact us to discuss your requirements.

 

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London Based Purchase of a Retail Property Investment

“We wanted to say thank you for all of your excellent help and advice in helping us to secure the finance to enable us to purchase the shopping centre and the additional assistance along the way to get it over the line! It was truly invaluable and we are very grateful”

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It’s not just about the rent

We are now two months into the new regime of increased stress tests. One lender has 8 different calculations depending on property type, loan term, rate chosen and tax status.

Working out how much you can get is a bit more complicated. But we do this many times a day so know which lenders to choose and the ones to avoid. Don’t waste hours of your time, contact us to see how we can help you with your next Buy to Let Mortgage.

 

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Bridging Finance-How does it get repaid?

I’m surprised at how many enquiries I get from clients who taken out bridging finance through another broker who has not got a firm exit in place.

If you don’t have the funds to repay it there are only two ways it can be repaid, either the sale of the property or a remortgage.

With the remortgage, before you take out the bridge you need to ensure that both you and the property meet as many lenders criteria as possible. If you have only one lender to choose from, then in 6 months they not be lending in that market or at that LTV. That’s dangerous and can cause you a lot of problems.

If you are late repaying the loan most lenders increase the monthly interest rate which will quickly wipe out any equity you have in the property.

So focus on the exit before you take the bridge.

 

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BTL Tax Relief Change Calculator

The Mortgage Works have created a Buy to Let Tax Change calculator

Most impacted

  • Existing higher rate tax payers (40% and 45%)
  • Landlords with marginal rental cover (high mortgage costs relative to rental income)
  • Tax payers moving into the higher rate tax band as a result of the changes
  • Landlords with strong rental cover

Lower rate tax payers remaining in the same band and unencumbered landlords are unaffected.

For advice on BTL mortgages contact us now with your requirements.

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Searchlight Finance Limited is registered in England and Wales No.07929050 Searchlight Finance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fca.org.uk/register) under reference 743220. The FCA do not regulate Business Buy to Let Mortgages or most Commercial Mortgages and Bridging Finance. ICO Number Z3109319. Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

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