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 firstname.lastname@example.org, 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 email@example.com, 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:
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||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:
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- 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
11:23 AM, 29th March 2016, About 7 years ago
The BOE Consultation on Underwriting Standards for BTL mortgage contracts could have been worse for LLs
11:29 AM, 29th March 2016, About 7 years ago
2.7 The current industry standard is to set the minimum ICR threshold at 125%. The PRA does not expect these proposals to reduce minimum ICR thresholds and furthermore, some of the factors above may lead to higher minimum ICR thresholds.
2.14 In particular, in coming to a view of likely future interest rates, the PRA expects firms to
have regard to:
(a) market expectations;
(b) a minimum increase of 2 percentage points in buy-to-let mortgage interest rates1;and
(c) any prevailing Financial Policy Committee recommendation and/or direction on the
appropriate interest rate stress tests for buy-to-let lending;
and must be able to justify the basis it uses by reference to (a), (b) and (c).
2.15 Even if the interest rate determined in paragraph 2.14 indicates that the borrower’s interest rate will be less than 5.5% during the first 5 years of the buy-to-let mortgage contract, the firm should assume a minimum borrower interest rate of 5.5%.
11:56 AM, 29th March 2016, About 7 years ago
Interesting read. I am always suspicious when data are presented as relative rather than absolute! Assuming the absolute data show similar trends, one can understand the concerns about the rise of BTL lending especially about practices which might lead to collapse. However the policies of the government are entirely arbitrary: How can increasing expenses improve affordability? The BTL lender do have a lower LTV ratio and stress testing which addresses affordability. The government is making it ease to borrow for more vulnerable owner occupiers borrowers by various schemes. This is causing increasing house prices and dangerous lending by state underwriting risking borrowing. Makes we wonder whether we have been too complementary to GO by labeling him evil when he in-fact he is an idiot?
12:05 PM, 29th March 2016, About 7 years ago
There is a definition for Portfolio Landlords: 4 or more properties
"Lending to Portfolio landlords is inherently more complex given the quantum of debt in aggregate, the cash flows and costs arising from multiple tenancies and potential risks of property and/or geographical concentrations.
3.3 These complexities mean that a specialist underwriting approach is appropriate. Firms underwriting process for Portfolio landlords should assess:
(a) the borrower’s experience in the buy-to-let market and their full portfolio of properties and outstanding mortgages;
(b) the assets and liabilities of the borrower, including any tax liability referred to in paragraph 2.6;
(c) the merits of any new lending in the context of the borrower’s existing buy-to-let portfolio together with their business plan; and
(d) historical and future expected cash flows associated with all of the borrower’s properties.
12:34 PM, 29th March 2016, About 7 years ago
Reply to the comment left by "Jon Pipllman" at "29/03/2016 - 12:05":
I'm not convinced this is worth the web space it is printed on!
Graphs, no reference numbers, 2 & 3 have no content (on this ipad) and from the fourth the second column must be 11, but looks three times the size of 6, and 5 does not even register.
They say this is from lenders PLANS. Was this BEFORE the LLs plans to pay off or reduce gearing, to largely stop further leveraged purchases, to rearrange portfolios in several ways?
With so many attacks on PRS every month, it seems highly likely this is WISHFUL THINKING on the part of lenders, and talking up thier prospects from past lending.
At first glance seems as lightweight as our esteemed (sic) chancellor's IF "research", and it's unknown effects, like 'won't impact on rents' and other crass remarks.
But thanks for posting it Jon.
10:56 AM, 13th April 2016, About 7 years ago
Yesterday's Evening Standard published an interesting article written by Simon Jenkins:
I just cannot understand why our "beloved" George is so happy on that photo? He probably is not able to realise the gravity of that situation.
Dr Rosalind Beck
22:50 PM, 13th April 2016, About 7 years ago
Okay, everyone. Important message from Steve Bolton and Chris Cooper. The next stage of the funding of the legal challenge against the Government begins tomorrow. This is the time for us all to put our money where our mouths are. Also, it is important to circulate this to everyone you can think of. I would wait until it is up and running, which I believe should be around mid-day tomorrow. Then help it to go viral like the last time. We are hoping that people who donated before will donate again - you will see that donations over £100 entitle the donor to a ticket at the summit: 'Tenant Tax - Landlords Fight Back', on the 9th of June, which will be a brilliant event and also mean that a lot of us can meet up with each other for the first time in many cases.
This is the link to the funding site: