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.

  • Tax Advice

    We do not give tax advice. By placing an application with us we expect you to have carried out your own research and taken professional advice from an independent tax adviser.

    By accepting our conditions, you confirm we have not provided any type of tax 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 business plans, more than two applicants, change of property or a complex application. You will always be notified 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 will 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.

  • 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 all other partners or directors to the terms.

    I understand when Searchlight Finance Ltd apply to a lender on our behalf the lender may undertake a credit search. 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 my/our credit record. I understand that repeated searches of this nature can have an adverse effect on my/our 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 and portfolio information of all the other applicants.

    In respect of the fees payable for finance advice as detailed in this document I give my 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.

    I give authority for Searchlight Finance Ltd to provide progress updates to your solicitor and estate agent if applicable.

    If for any reason the Searchlight Finance Ltd application fee is not paid before completion of the loan, I give my irrevocable authority for our solicitor to deduct the fee from the completion funds and forward this directly to Searchlight Finance Ltd.

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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