Searchlight Finance Ltd
Terms of Business for Non - Regulated Services
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 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 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 because 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 write to Client Services, Searchlight Finance Ltd, 98 King Street, Knutsford, Cheshire WA16 6HQ or email email@example.com or telephone 01565 654005.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.