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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||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
Justin Selig - solicitor
23:44 PM, 1st April 2013, About 10 years ago
My thoughts on the response from the FSA are as follows:-
1 They state that having looked at the mortgage contracts they don’t believe there the terms to be unfair. However the mortgage contracts are only part of the story. The sales literature provided by Bristol and West offers mortgages with tracker terms for 2 years, 3 years and also lifetime trackers. The complainants are those who believed they had a lifetime tracker. They would have paid a different rate of interest to those borrowers who only took a 2 or 3 year tracker – to reflect the different risk to the bank. In order for the FSA to fully consider the borrowers’ positions they also need to look at the initial sales literature and the subsequent correspondence sent to borrowers by the lender.
2 The response states that “Bank of Ireland UK volunteered to exclude customers from this change where there is evidence suggesting the customer could have been led to believe the differential was for the “life” or “lifetime” of the product.” If this is the case, then the bank seems to have overlooked the 170 or so borrowers who have contacted me to state that they believed to have a lifetime tracker but have received the letter from the bank advising them of the change in differential. Furthermore I have seen recent correspondence from the bank to a borrower stating that the differential is fixed for the remaining term of the mortgage, and yet the borrower has still received the letter of increase from the bank.
3 The FSA does not really appear to have looked into the reality of the ability for borrowers to re-mortgage. Many of the mortgages taken out will have been self-certified and those borrowers would find it very difficult to obtain new terms, and any terms they do find will be substantially more onerous than the current terms. Indeed many of the people who contacted me told me that they were offered substantial pay-outs (in some cases of several thousands of pounds) by the Bank of Ireland last year to entice them to move elsewhere. When they looked into the reality of re-mortgaging even though they were being offered a pay-out by the Bank of Ireland it wasn’t worth doing. It should be noted that when the borrowers were being offered this pay-out the bank did not mention to them that they were going to increase the differential some months later.
4 It is a little naïve to think that other lenders are not closely scrutinising what the Bank of Ireland are doing and considering their options to potentially increase the differential on their tracker mortgages. The impact that this would have on the housing market would be potentially very damaging – affecting not only borrowers but tenants who are in private rented accommodation as this will have a knock on effect of increasing rents.
5 Based on this response, it is clear that the FSA is not taking responsibility to protect the interests of the borrowers. It will therefore be up to the borrowers to take matters forward themselves.
Andrew Tyrie, chairman of the Treasury Select Committee has written back to the FSA with quite a strong response. He is quite clearly not satisfied with the response he got, however I am somewhat dubious as to whether this avenue of enquiry has any mileage. The bank did however tell the FSA that it would exclude anyone who believed that the differential over the Bank of England base rate was fixed for the term would be excluded from the increases. It would therefore be worth questioning the bank on this comment to the FSA.
Over the past few weeks we have received a huge amount of interest from BOI borrowers. I am meeting a barrister later this week to discuss tactics on how to take this forward and will post at the end of the week with our proposals.
20:40 PM, 3rd April 2013, About 10 years ago
If it turns out to be the case that the differential is fixed for the term, the bank told FSA it would exclde those contracts from the increase. would i need to write to them stateing the fact, or will it be automatically canceled by the bank.
Justin Selig - solicitor
0:39 AM, 6th April 2013, About 10 years ago
I have met with a barrister today to discuss the case generally and how to proceed to the next stage. We are waiting for a formal opinion which we will receive early next week. In the meantime given the response from the FSA to Andrew Tyrie and then his letter back to the FSA – see attached links http://goo.gl/2ODFK and http://goo.gl/bXmQm , it is our opinion that we should now write to the Bank of Ireland on behalf of all the borrowers to obtain an initial response to their comment that “if any borrower believed that the differential was for the life or lifetime of the product then they would be excluded from the increase”.
I would therefore like to hear from any borrower who can provide me with evidence that they were led to believe this. I have already heard from over 200 people on this case and I have received copies of terms and conditions from a large number of people. However, if you could provide me with evidence to counter the bank’s claim as set out above, then we have a good starting point. You can email this information to firstname.lastname@example.org.
If you would like us to write to the bank on your behalf, we will require a small financial contribution from you, towards reviewing your terms and conditions and sending the letter. The contribution would also go towards reimbursing Property118.com for the Counsel’s opinion that they have funded. If you would like us to go ahead on your behalf, please send the following information to us:-
1 Your initial offer letter from the bank
2 The terms and conditions of your mortgage
3 Any marketing material you were provided with at the time
4 Any subsequent correspondence you have received regarding the rate you pay and/or your differential
5 A copy of your passport and a utility bill to confirm your identity.
Upon receipt of the above we will contact you regarding payment and provide you with an engagement letter.
I will update you further next week.
Mark Alexander - Founder of Property118
13:42 PM, 9th April 2013, About 10 years ago
Justin will be writing today to everybody who has registered an interest in the Class Action.
14:16 PM, 10th April 2013, About 10 years ago
Exchange of emails so far with MP/Treasury Committe below. Not sure if I can join any action as I have already had my rates increased and am a private homeowner not a Landlord. Very annoyed by all this !!!
Dear Mr Andrew Griffiths MP
Please see below my email to Andrew Tyrie MP and the reply from Steven Price at the Treasury Committee in which he suggests raising the matter with yourself. I am hoping you can perhaps lend support to Mr Tyrie in his dealings with the FSA as this matter is of great concern to many borrowers. Aside from the direct impact I have experienced, I think an important point is that if Bank of Ireland are allowed to do this then all confidence is lost that borrowers should be able to have that their mortgage contracts will not be varied unfairly.
I would be pleased to hear from you.
From: Treasury Committee [mailto:TREASCOM@parliament.uk]
Sent: 09 April 2013 11:37
Subject: RE: Bank of Ireland
Dear Mr Lamley,
Thank you for your email to Mr Andrew Tryie MP concerning your Bristol and West mortgage. Your email has been passed to me for reply.
I can provide you with the letters that we have sent/received from the FSA. They’re all on website and the link is here: http://www.parliament.uk/business/committees/committees-a-z/commons-select/treasury-committee/news/martin-wheatley-boi-letter/.
The only thing we can advise you to do is to consider contacting the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/), or alternatively you could raise the issue with your local MP.
Mr Tyrie is waiting for a response to his letter of the 21 March to Martin Wheatley at the FSA, but when we receive this and the Committee agree to publish it we will put it on our website as with the others.
I hope this helps.
Senior Committee Assistant
7 Millbank | London | SW1P 3JA
From: Keith Lamley [mailto:email@example.com]
Sent: 03 April 2013 14:31
To: TYRIE, Andrew
Subject: Bank of Ireland
Dear Mr Tyrie
I have read, with great interest, some of the press comment regarding the mortgage rate hikes by Bank of Ireland which I gather you feel to be unjustified. I agree!
Much of the comment seems to be about proposed increases, but in my own case this has already happened. My mortgage was with Bristol & West and was bought out by Bank of Ireland in 2010. The rate at the time was 2.99%. In March 2012 they wrote to me to advise that their Standard Variable Rate was increasing in 2 stages - to 3.99% in June 2012 and 4.49% in September 2012. Thus my payment rate has increased by 50% at a time when Bank base rate has remained low and flat. They encouraged me to remortgage but unfortunately I had originally borrowed the maximum my earnings would permit and my earnings have fallen since then, so I am trapped and entirely at their mercy. My only option will be to sell my house if rates go up again or my earnings don't improve. Letters of protestation have met with no response.
(Regrettably) I am not in your constituency, but given your interest and knowledge of the situation, I would be very grateful indeed if you could supply me with any comment or information that would be useful, or course of action that you feel I could take.
Thank you in anticipation.
15:26 PM, 10th April 2013, About 10 years ago
Just had my letter from the Burglars Of Ireland telling me what my payments will be on the 1st May. Extra £158 a month. So £120 just sent to Justin. Lets hope the advice is for an injunction!!
22:50 PM, 11th April 2013, About 10 years ago
You mention in a previous post that Irish Nationals are excluded. I received two letters from Bank of Ireland regarding an increase in differential on two mortgages for buy to let properties in the UK. I am an Irish National and resident in Ireland. The Irish newspapers have reported over the past few days that Bank of Ireland has been conducting research to seek ways to get homeowners to give up their trackers.
Mark Alexander - Founder of Property118
8:05 AM, 26th April 2013, About 10 years ago
I heard from Justin late last night as he had just received the first draft of counsels opinion.
Drum roll ……………..
It is VERY positive and we have a number of options open to us.
We now need to recruit as many more affected borrowers as possible. It is NOT too late to join in the Class Action.
Justin will no doubt comment again later today but in the meantime I have now included the Class Action Expression of Interest Form in the first article we published which resulted in this mammoth thread of comments - see >>> http://www.property118.com/?p=37002.
Hopefully more people will find the Registration of Interest form easily there
Now we need your help.
Please tell everybody you know.
Talk to landlord groups you belong to and ask them to communicate this to all of their members.
Share this page on social media and other forums.
Buy a megaphone and a sandwich board ……………. OK that’s maybe taking it a bit to far but you get the message