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How is interest calculated?

Most lenders retain interest, and a minority roll it up and if you have plenty of surplus cash per month you might get serviced.

Retained and rolled up interest is deducted from the amount you wish to borrow. 

You have to find sufficient funds to cover the interest for the period of the loan as well as the deposit. 

Retained is the most common and for the majority of the lenders this is the only option you have.

Serviced is like a traditional mortgage when you are allowed to pay the monthly interest from your income. 

Searchlight Finance Ltd is a broker not a lender.

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We are a credit broker not a lender.

Searchlight Finance Ltd is registered at 98, King Street, Knutsford, Cheshire, WA16 6HQ. Company Register number is 07929050.

Authorised and Regulated by the Financial Conduct Authority. Our FCA registration number is 743220. You can check via www.register.fca.org.

We are registered with the Information Commissioner’s Office, Z3109319 and you can check via www.ico.org.uk.

We conduct both regulated and unregulated business and therefore not all products provided through us are regulated by the Financial Conduct Authority.

We source finance from the whole of market and may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.

Member of National Association of Commercial Finance Brokers (NACFB).