Property118 Ltd understands that your privacy is important to you and that you care about how your personal data is used and shared online. We respect and value the privacy of everyone who visits this website, www.property118.com
(“Our Site”) and will only collect and use personal data in ways that are described here, and in a manner that is consistent with Our obligations and your rights under the law.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
||means an account required to access and/or use certain areas and features of Our Site;
||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;
||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;
||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and
||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Information About Us
- Our Site is owned and operated by Property118 Ltd, a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Our VAT number is 990 0332 34.
- Our Data Protection Officer is Neil Patterson, and can be contacted by email at email@example.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- What Does This Policy Cover?
- Your Rights
- As a data subject, you have the following rights under the GDPR, which this Policy and Our use of personal data have been designed to uphold:
- The right to be informed about Our collection and use of personal data;
- The right of access to the personal data We hold about you (see section 12);
- The right to rectification if any personal data We hold about you is inaccurate or incomplete (please contact Us using the details in section 14);
- The right to be forgotten – i.e. the right to ask Us to delete any personal data We hold about you (We only hold your personal data for a limited time, as explained in section 6 but if you would like Us to delete it sooner, please contact Us using the details in section 14);
- The right to restrict (i.e. prevent) the processing of your personal data;
- The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);
- The right to object to Us using your personal data for particular purposes; and
- If you have any cause for complaint about Our use of your personal data, please contact Us using the details provided in section 14 and We will do Our best to solve the problem for you. If We are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.
- For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.
- What Data Do We Collect?
- Date of birth;
- Address and post code;
- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
- Contact information such as email addresses and telephone numbers;
- Proof of residence and ID;
- Financial information such as income and tax status;
- Landlords insurance renewal dates;
- Property Portfolio details such as value and mortgage outstanding;
- How Do We Use Your Data?
- All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with Our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.
- Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:
- Providing and managing your access to Our Site;
- Supplying our products and or services to you (please note that We require your personal data in order to enter into a contract with you);
- Personalising and tailoring our products and or services for you;
- Replying to emails from you;
- Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by the unsubscribe link at the bottom of all emails;
- Analysing your use of our site and gathering feedback to enable us to continually improve our site and your user experience;
- Provide information to our partner service and product suppliers at your request.
- With your permission and/or where permitted by law, We may also use your data for marketing purposes which may include contacting you by email and or telephone with information, news and offers on our products and or We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that We fully protect your rights and comply with Our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.
- You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.
- We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will therefore be retained for the following periods (or its retention will be determined on the following bases):
- Member profile information is collected with your consent and can be amended or deleted at any time by you;
- Anti-Money Laundering information and tax consultancy records are to be kept as required by law for up to seven years.
- How and Where Do We Store Your Data?
- We only keep your personal data for as long as We need to in order to use it as described above in section 6, and/or for as long as We have your permission to keep it.
- Some or all of your data may be stored outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). You are deemed to accept and agree to this by using our site and submitting information to Us. If we do store data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR
- Data security is very important to Us, and to protect your data We have taken suitable measures to safeguard and secure data collected through Our Site.
- Do We Share Your Data?
- We may share your data with other partner companies in for the purpose of supplying products or services you have requested.
- We may sometimes contract with third parties to supply products and services to you on Our behalf. Where any of your data is required for such a purpose, We will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, Our obligations, and the obligations of the third party under the law.
- We may compile statistics about the use of Our Site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.
- In certain circumstances, We may be legally required to share certain data held by Us, which may include your personal data, for example, where We are involved in legal proceedings, where We are complying with legal requirements, a court order, or a governmental authority.
- What Happens If Our Business Changes Hands?
- How Can You Control Your Data?
- In addition to your rights under the GDPR, set out in section 4, we aim to give you strong controls on Our use of your data for direct marketing purposes including the ability to opt-out of receiving emails from Us which you may do by unsubscribing using the links provided in Our emails.
- Your Right to Withhold Information
- You may access certain areas of Our Site without providing any data at all. However, to use all features and functions available on Our Site you may be required to submit or allow for the collection of certain data.
- How Can You Access Your Data?
You have the right to ask for a copy of any of your personal data held by Us (where such data is held). Under the GDPR, no fee is payable and We will provide any and all information in response to your request free of charge. Please contact Us for more details at firstname.lastname@example.org, or using the contact details below in section 14.
- All Cookies used by and on Our Site are used in accordance with current Cookie Law.
- Before Cookies are placed on your computer or device, you will be shown a cookie prompt requesting your consent to set those Cookies. By giving your consent to the placing of Cookies you are enabling Us to provide the best possible experience and service to you. You may, if you wish, deny consent to the placing of Cookies; however certain features of Our Site may not function fully or as intended. You will be given the opportunity to allow only first party Cookies and block third party Cookies.
- Certain features of Our Site depend on Cookies to function. Cookie Law deems these Cookies to be “strictly necessary”. These Cookies are shown below in section 13.5. Your consent will not be sought to place these Cookies, but it is still important that you are aware of them. You may still block these Cookies by changing your internet browser’s settings as detailed below in section 13.9, but please be aware that Our Site may not work properly if you do so. We have taken great care to ensure that your privacy is not at risk by allowing them.
- The following first party Cookies may be placed on your computer or device:
|Name of Cookie
||Used only to collect performance data, with any identifiable data obfuscated
||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.
- Our Site uses analytics services provided by Google Analytics and Facebook. Website analytics refers to a set of tools used to collect and analyse anonymous usage information, enabling Us to better understand how Our Site is used. This, in turn, enables Us to improve Our Site and the products AND/OR services offered through it. You do not have to allow Us to use these Cookies, however whilst Our use of them does not pose any risk to your privacy or your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.
- The analytics service(s) used by Our Site use(s) Cookies to gather the required information.
- The analytics service(s) used by Our Site use(s) the following Cookies:
|Name of Cookie
||First / Third Party
|__utma, __utmb, __utmc, __utmt, __utmz
||Helps to understand how their visitors engage with our website
||Helps to understand how their visitors engage with our website
- In addition to the controls that We provide, you can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
- You can choose to delete Cookies on your computer or device at any time, however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
- It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings.
- Contacting Us
11:10 AM, 7th June 2017, About 6 years ago
I would be sceptical on the question of whether large institutional lenders routinely breach their contract terms by assigning mortgages to other lenders/investors without consent
1. Many mortgages contain a term allowing this to happen, and so consent is deemed.
2. Many mortgagees will sell the income streams rather than assign all of the contract to the new owners-as is evidenced by the fact that the original lender still holds the charge.
Please be very careful before parting with even an initial fee for a DSAR scrutiny.
11:50 AM, 7th June 2017, About 6 years ago
I have heard this PPI style sales pitch about securitisation every year since the credit crunch in 2008 and I have yet to see anything substantive come from it.
Mark Alexander - Founder of Property118
13:39 PM, 7th June 2017, About 6 years ago
I concur with everything Mark Smith and Neil Patterson have said.
If they get any real results I'm sure we will get to hear about them. Until then I'd stay well clear.
7:24 AM, 8th June 2017, About 6 years ago
And I'm commenting to get any news, but if Mark Smith says the above, then it's probably not happening.
I've had the Scarborough sell two to the Skipton.
And Platform, I've got 7 with, they decided to sell ONE about 8 years ago to JP Morgan, & now this one this year, JP Morgan has sold to Rooftop Mortgages. Same addresses to write to though.
Mark Alexander - Founder of Property118
7:28 AM, 8th June 2017, About 6 years ago
Reply to the comment left by "Mick Roberts" at "08/06/2017 - 07:24":
GMAC also sold mortgages to MX and others.
By the way, you don't need to comment to get comment notifications. You can just sign up for comment notifications at the bottom of the article by adding your name, email address and clicking the green button 🙂
8:02 AM, 8th June 2017, About 6 years ago
Yes Mark, you've told me I don't need to comment before, I do like to let u all know I'm still here though ha ha.
This ruddy Rooftop mortgages telling me I've got to change payment date.
The JP Morgan change, they wanted insurance proof every year, whereas the Platform lot didn't.
Platform wanted to start charging me every year for interest only statements, even though it's a HMRC requirement.
And then I took to FOS, won it, then JP Morgan started it again few years later ignoring the FOS judgement.
AAAAAhhhhhh and some people tell me I shouldn't be paying off these mortgages. I'm sick of dealing with the imbeciles.
And only yesterday, the Woolwich make a direct debit mistake they made 10 years on all 24 mortgages, which I successfully complained about ten years ago. It's like they just forget what was ruled upon them before & because it was ten years ago, it doesn't matter.
We've all got 'em, one BRILLIANT lender who gets things right, statements, details on statements, payments etc. And then we got other lenders, u think 'Why don't they just do it like that brilliant lender. EXACTLY THE SAME?' Then we'd all be happy.
I kid u not, approx. 15 years ago maybe 19 years, Future Mortgages who got bought out by the Ipswich, lost 3 of my standing order payments. On the actual mortgage statement, 3 of the 12 payments were missing.
I had proof & eventually won the argument, but it's after 20 years of dealing with these imbeciles, I've had enough. Yes might be cheap debt, but it is costing me hundreds of unnecessary hours every year.
10:00 AM, 8th June 2017, About 6 years ago
Securitisation is normal, all the major lenders do it and mostly the borrower never knows, the mortgage agreements will have a clause allowing the lender to assign the debt. Usually the original lender continues to administer the loan for the buyer who pays an administration fee and assumes the credit risk.
Where problems occur it is more likely that the loan book has been sold on to.a new buyer, where a lender ceases doing business for example. Then the loan is moved to a different administration system, they try a best fit to the new system that does not replicate the original terms of the mortgage and problems result.
Complaints should be recorded and redress paid where errors are made, most lenders should be covered by FCA requirements and volumes outcomes and speed of resolution are monitored closely.
However, to return to the original post, if you don't know your loan has been securitised, you have experienced no problems with administration and the terms have been honoured then why would you think that compensation is due?
14:05 PM, 8th June 2017, About 6 years ago
It seems like a bit of a stab in the dark, however there is legal reason behind it and success has been achieved through the legal charge on the mortgage no longer being held by the original mortgage provider.
This is not about compensation for wrong doing or financial losses, this is about taking advantage of incomplete or incorrect paperwork made upon completion of the securitisation, leaving no legal charge being held on your mortgage by the investor who agreed to purchase the mortgage backed security. Thus giving the bank no legal means to demand repayment for a debt they have already had settled via the securitisation. Their 70% write off figure derives from 100% reduction of your outstanding mortgage debt minus their 25%+VAT fee.
Mark Alexander - Founder of Property118
14:49 PM, 8th June 2017, About 6 years ago
Reply to the comment left by "Nicky Andrew" at "08/06/2017 - 14:05":
Welcome to Property118.
For your first post, this seems to be a very detailed "stab in the dark".
What is your relationship with this offering?
13:49 PM, 4th August 2017, About 6 years ago
I'd like to throw in my point as well if I may.
Mortgage Securitisation does appear to be something that lenders have mis-managed and in doing so calls into question the issue of who owns the mortgage.
The reality is that if the mortgage has been sold then surly the lender has not rights over it any longer and as such the borrower can legal challenge them.
The core issue as I understand it is that within the original Mortgage Agreement, there is a POA clause that allows the lender to do what they like, how and with whom they like, including securitising the mortgage. If this is the case and the borrower has not been made aware of the transaction (either by being informed or through consent) then what laws are being breached and what recourse has the borrower got to react.
I've been watching the case on Anthony Carlin in Northern Island who is battling the courts over this matter and it does appear that Santander has both lied in court and also hidden the facts only to have the court now demand they release all information relating to the securitisation of his mortgage. It does appear that he has them on the ropes and as such if this case is won, it opens up the whole integrity of how lenders have dealt with mortgages behind the scenes and if legally proven can it lead to the mortgage being written-off...
The big argument for me is when did they sell my mortgage, if they sold it what rights do they have (other than the POA) and if they sold it years ago, can I make a money claim for all payments made to the date it was securitised.....
Only time will tell on this very interesting topic...... I think its only a question of time before the courts have to file in favour of borrowers and the floodgates on claims will open!
One this is for sure, I've started the process on my mortgages as nothing ventured, nothing gained and for £100 it's worth the risk...