Terms of Business

  • Who are we?

    Searchlight Finance Ltd is authorised and regulated by the FCA (Financial Conduct Authority), registration number 743220. You can check this on the FCA’s website fca.org.uk/register or by contacting the FCA on 0800 111 6768.

    This document relates solely to Investment Buy-to-Let Finance, Unregulated Bridging Finance and Development Finance that are not regulated by the Financial Conduct Authority (“FCA”). Use this information to decide if this service is right for you.

  • Whose products do we offer?

    We offer a comprehensive range of secured property finance from across the market, but not finance that you can only obtain by going directly to the lender.

  • Which service will we provide you with?

    We will advise and make a recommendation for you after we have assessed your needs.

  • We do not give advice on the ownership structure and the property being a suitable investment. By placing an application with us we expect you to have carried out your own research and taken professional advice.

    By accepting our conditions, you confirm we have not provided this advice to you.

  • What will you pay for this service?

    £500 is payable on application (see refund policy)

    • BTL – If additional work is required further fees may be payable. This includes an extra £250 for new expatriate applications. If we need to complete a business plan, there are more than two applicants, a change of property or a complex application we will always notify you in advance if an additional fee is needed.

    • Commercial Property and Bridging Finance up to 1% of the loan amount payable on offer but may be deferred to Completion. You will always be notified in advance what fee is payable.

    We may also be paid a procuration fee from the lender. You will receive an illustration which will tell you about any fees relating to the finance and the amount of commission we will receive.

    We may reduce our fees depending on the loan amount, the volume of business you give us and as a thank you for your referrals.

  • Refund of fees

    Our fee is non-refundable, should your application be discontinued for any other reason including but not limited to circumstances where:

    – we are unable to secure a formal finance offer as a result of inaccurate information provided by you about your personal circumstances, the proposed property details, materially inaccurate information which we have relied or your non-disclosure or non-provision of relevant information as required by the lender.

    – we can secure a suitable finance offer for any mortgage which would reasonably enable your transaction to proceed.

    – you choose to withdraw from the property transaction or terminate the mortgage application process.

    – the vendor withdraws from the transaction.

    At our discretion we may transfer part or all the fee to a future application with us if we receive the replacement application within twelve months.

  • Privacy Notice & Data Protection

    A privacy notice has been issued separately from the terms of business.

    Being open and transparent and providing accessible information to you about how we will use your personal data is a key element of the EU General Data Protection Regulation (GDPR) basis

    This privacy notice details;

    The lawful basis for processing data, who we are, how we use the information about you, marketing consent, what information is collected, why the personal data is required, our data retention periods and individuals’ rights to personal data. More detailed information can be obtained on request.

    You must be confident you understand how your data will be processed

  • What to do if you have a complaint?

    If you wish to register a complaint, please contact us: in writing at Searchlight Finance Ltd, 98 King Street, Knutsford, Cheshire, WA16 6HQ or by phone on 01565 654005 or email feedback@searchlightfinance.co.uk

    If you cannot settle your complaint with us, you will not be entitled to refer it to The Financial Ombudsman Service. Investment Buy-to-Let Finances, Unregulated Bridging Finance and Development Finance are not regulated by the Financial Conduct Authority so you will have no recourse under the Financial Services Compensation Scheme.

  • Terms of Business Acceptance

    I understand and agree to the terms and conditions and information outlined in this document and wish to proceed with instructing Searchlight Finance Ltd to assist with our finance application. I have authority to sign this agreement and bind any other partners or directors to the terms.

    I understand when Searchlight Finance Ltd apply to a lender on our behalf Searchlight will carry out a Credit check and Identity check and the lender will do the same. This credit search will be performed to determine the credit worthiness of the applicant(s) and details of this search will form a permanent part of the credit record. I understand that repeated searches of this nature by a lender can have an adverse effect on the credit record.

    If you are applying with another party, the lender may share the financial information of all parties so each applicant to the loan will be able to see the personal, financial and portfolio information of all the other applicants.

    In respect of the fees payable for finance advice as detailed in this document I give authority for payment to be made to the lender using the supplied card details when the payments fall due and I understand the fees once paid are not refundable.

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).