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Auction Finance in Leeds

We were approached by a residential mortgage broker who had a client that had purchased a residential investment property at auction. They thought they would be able to obtain finance from their bank but their request was declined. Due to the tight deadline bridging finance was considered but we were confident that we could raise… Read More »

Bridging Finance in London £900,000

A corporate finance house in Manchester had a client who was buying a business in the South West. They had been let down by a Venture Capital company and were looking for alternative funding. The purchaser had a property with no mortgage and wanted to obtain a bridging loan of £900,000 quickly. Other lenders and brokers had… Read More »

Bridging Finance for Auction Purchase

We were approached by an IFA who had tried to obtain bridging finance of £350,000 on a property bought at auction. The client and IFA had approached lenders direct and the IFA had gone to a specialist bridging firm who couldn’t help. A 10% deposit had been paid at auction and we had less than two weeks to obtain the finance. The buyer was very anxious about losing the deposit and being sued… Read More »

Buy to Let Remortgage

Manchester based property investor required a buy to let loan to repay bridging finance. Due to his profession and the large number of properties he owned within his existing portfolio he had been turned down by lenders. The bridging company was putting pressure on the client for repayment. We quickly sourced an alternative lender from… Read More »

Please go we don’t want you

We all understand why property is not flavour of the month for a lot of lenders with  bad debts, questions over values and a lack of demand for new build due to restrictions in mortgage lending, but we are seeing many long established landlords having their funding lines cut. The number of new clients we… Read More »

Bridging Loan in Devon £412,000

Bridging loan to Torquay based developer to repay existing development loan with another lender which had expired. Introduced to us by their residential broker.Negotiated with lenders to reduce the number of properties held as security thus maximising remortgage options and reducing the amount of interest charged. Agreed over a nine month term which was sufficient time… Read More »

Commercial Investment Mortgage

Background An established residential landlord in Birmingham wanted a commercial mortgage to buy his first commercial property which as rented out as a supermarket. His bank had said no as the existing tenant only had two years left on the lease and they wanted a longer lease. He had approached other brokers who had found… Read More »

Commercial Mortgage for a Day Nursery

We were introduced to a Cheshire based day nursery group. They had a recent history of low profitability and losses due to tax planning. They wanted a commercial mortgage to move premises as they had outgrown their current home. Due to the lack of profits, they had been declined by several lenders. As it was… Read More »

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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