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:
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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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||Helps to understand how their visitors engage with our website
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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
8:07 AM, 30th June 2012, About 11 years ago
About time someone said that publicly, about u don't have to re-mortgage in 3 years if u don't want to. I used to get sick of the brokers that say 'Well, switch it in 3 years time when the deal ends', Ooh yeh, pay another £300 valuation, £300 solicitor, possible £2000 lender fee, we never know where the lender market will be in 3 years time, so if u can get a good deal u can STICK WITH if u have to & don't need to pay to switch, all the better. Here's some notes on Godiva for those that didn't know, because I do believe they won't refund u any fees once u pay any money to start the process off: 'The maximum number of properties that can be held per household with the Coventry Building Society Group is three; the maximum number of rental properties a household can have in mortgage with all lenders is ten'.
8:21 AM, 30th June 2012, About 11 years ago
Hi I recently remortgaged with Godiva for a 2 year fixed rate of 3.99%, My fixed rate with BM solutions was comming toan end and they would not offer a decent fixed rate renewal, and they also wanted another arangement fee to change the paperwork, are these lenders getting greedy? the original mortgage was taken out two years ago and the fee was then over £2,000. So instead of doing me a good deal for me as an existing customer I looked around and found Godiva. There arrangment fee was about £1200 but because of th 3.99% over 2 years I would save over £2000 on the new BM varable rate in that time , assuming rates did not go up.
For some of us the low rates have been good, but there is always the thought they will go up. I thought a few years ago that the Bank Base rate would stay low and was happy to stick with my Variable rate on 4 mortgages, only planing to shop arround when rates started to climb. But once again the greed of theese lenders is astonishing. Because there is no movement in the Bank of England Base Rate, some of these lenders have started putting up there own rates to generate more money. The bonuses have to come from somewere! I brought my first BTL 10 years ago and now have five properties, over the years mortgages have changed or been taken over buy another company. I do not remember reading anything on all those mortgage offers that a provider could put up their varable rates anytime they felt like it, it was alwas x% above base rate. I expect others will now follow this trend. Interesting to know that my first arrangement fee was about £250, now they looking for £999 -£4000 it must be a lot of paper work. They also charge a transfer fee! give me your acc number and I can do the transfer on my computer from home on the internet for free.
For the next 2 years Godiva will save me money and I know what the monthly payment is, so peace of mind. The only thing I had to quirey with them is they want the mortgage interest rate payed in advance so borrow the money on the 1st June and you have to pay the interest payment on the 1st June and that covers the interes for a month. Is this legal. if i lend you £1000 pound at 10%pm, do you have to give me £100 for the interes on the day I lend you the money? Because my mortgage was completed in the middle of the month I now find I am Payiny 2.5 months mortgage in the space of 6 weeks
Godiva was of
Mark Alexander - Founder of Property118
9:21 AM, 30th June 2012, About 11 years ago
It is perfectly legal for lenders to charge and collect interest daily/weekly/monthly/yearly in advance or in arrears providing that's clearly stated in their paperwork.
I agree with Neil that the simplicity of Godiva's latest product is it's brilliance.
11:26 AM, 30th June 2012, About 11 years ago
I have a portfolio of 55 properties and because of this the only lender available to me is TMW who wont give any more than 70% LTV because of the amount of properties I have.
Interestingly, because of the bank base rate at 0.5% and all my mortages, when finished, went down to between 2% and 2.5% over base I sweep the board at 3.3% on the whole of the portfolio.
Good news for the current portfolio but funding is becoming increasingly difficult for me to build on this.
Does Godiva have a maximum of buy to let mortgages allowed? Also is there a minimum earning required?
Most lenders wont take rental income and you have to earn money in some other form of business. Some creative use of LLC companies usually does the trick but, in today`s climate, I would have thought rental income was one of the top viable income sources - and I have never had a void period on any property.
Be interested if Godiva would be ideal for me?
On another note I run a bridging company which lends secured short term loans mainly for property investors allowing them to purchase for cash and re-mortgage at true value 6 months down the road created since Mortgage Express firstly stopped "back to back" deals and falling by the wayside. (bring back 2005!)
Mark Alexander - Founder of Property118
11:33 AM, 30th June 2012, About 11 years ago
I'd suggest you give Neil a call on Monday - 01603 489118.
22:17 PM, 30th June 2012, About 11 years ago
It seems to me that experienced LL with extensive portfolios will increasingly be unable to source viable mortgage products.
If interest rates go up these portfolios will become unviable.
Mortgage rates should be no more than 2%, this will give the bank a margin of 1.5%.
This is the sort of margin they used to work with.
These banks who have fraudulently adjusted the LIBOR rate which affects everything need to be brought to heel and forced to lend at the appropriate rate to reflect the BBR like they always did.
The fact that the BBR is so low should be passed onto consumers which would have positive effect on the whole mortgage market.
If mortgages are not brought into line with prevailing interest rates as and when the BBR increases there would be a massive default if margins which are presently 3-4% are not reduced to an almost standard 1 %.
One should be able to obtain a BTL mortgage for a term of 70 years if aged 18.
Property is increasingly now being held for a long term.
The days of massive capital increases are long gone.
Continuity is required and BTL mortgages should have similar if not longer terms than residential mortgages.
Otherwise there will be a crisis of affordable funding as and when interest rates increase.
Might be academic as I don't see rates increasing for years.
LL want to future proof their investment just like a residential customer.
Long term tracker mortgages are what most people want so as not to be at the mercy of SVR's and continual remortgage fees.
These trackers must be affordable; 2% ABBR would be acceptable for long terms
Willm this happen?
Mortgage funding for BTL is going to get a lot less affordable as things go on.
15:26 PM, 2nd July 2012, About 11 years ago
Godiva do have a minimum income requirement of £25,000, and the maximum number of properties you can own that are mortgaged is 10.
15:30 PM, 2nd July 2012, About 11 years ago
I agree Mick.
Back in the day when I was a mortgage consultant my personal favourite BTL products were the Platform lifetime trackers for the very reason you mention, but obviously only if they were a good fit with the client.
15:40 PM, 2nd July 2012, About 11 years ago
I will not defend the Banks especially with the current headlines, but one of the reasons for the massive margins over the BofE rate is the requirement for them to re-capitalise. At one point for every £1 they held they were lending out £70. Under recommendations from the BofE this is now closer to £30. Hence the cost of lending for the banks has increased. The 0.5% BofE rate is the overnight rate to secure any debit positions not what they actually lend to each other at for commercial gain (LIBOR). Having said that we now can't believe what that rate actual is either. The more you look into it the more you realise what a tangled mess the whole situation is even before we mention Europe.
20:57 PM, 6th July 2012, About 11 years ago
Another problem for existing landlords looking to remortgage: I think Godiva's top age limit for the older of two joint BTL property owners is 75 (like most others) - is that correct? Not ideal if you are running your BTL business post-"retirement".