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Archive for the ‘Lender News’ Category

£330,000 refinance from a bank that says No

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Due to their withdrawal from the market their existing lender had given notice to a long established Lancashire property company to move it’s property portfolio to another bank or sell.

The directors were in their 80’s and spent most of their time overseas and didn’t own a main residence in this country. To add to this their tenants received housing benefit which most of the banks didn’t like.

We kept in constant contact with the outgoing lender and updated them at every stage. This gave the bank the confidence to grant extra time in a complicated restructuring.

Never to back away from a challenge we arranged with the directors for a UK based relative to become a director. This gave a new bank comfort in succession planning and where other brokers had failed we obtained the finance needed. The properties have been retained giving the clients a comfortable income in their well-earned retirement.

Refurbishment Loan with lender funding up to 100% of refurbishment costs

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Initial Loan 70% of the value
Refurbishment costs 100%
Gross facility up to 70% of end sales value
Loan size £250,000- £1.5m
Term – up to 18 months
Minimum value £300,000
Works lower of 50% of current value or £500,000
Experience essential

Suitable for

Permitted development
Heavy refurbishment
Structural works

Another floating charge lender sees sense

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Great news!

Another lender, Paragon has removed the requirement of a floating charge on all portfolio applications for limited companies, incorporated solely for the activity of holding and letting residential properties.


5 ways Keystone, one of our lenders can help you with your BTL mortgage

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  1. Lending to portfolio & first-time landlords
  2. Applications from individuals, SPVs and trading Ltd Co’s accepted
  3. Deposits from trading Ltd Co’s for SPV purchases can be considered
  4. Remortgages within 6 months of purchase at enhanced property value
  5. Lending on HMO’s (8-beds), multi-units (10 flats), new build properties & flats above commercial


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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