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
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- 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
10:39 AM, 24th January 2023, About 2 months ago
Over the last two years I have bought 2 flats in docklands (E16 Silvertown/ Royal Docks).
I have an established portfolio of 10 letting properties in Edinburgh built up over 15 years. Being a landlord is my career now, having taken redundancy from a job as a chartered accountant in financial services a few years back. I did this primarily for time flexibility so as to have more time to spend with my young family as my wife has a senior full time career.
I now plan to run the Scottish portfolio down and increase my investment in England as I am concerned about the rent and eviction freeze policies and the generally anti landlord rhetoric coming out of Holyrood.
That the first minister has made Patrick Harvie of the Greens, who has a mere handful of voters, housing minister is a serious concern. He talks like a marxist and as if he would be happy to see the private residential sector in Scotland eliminated. In Edinburgh, rents are high and supply is low. If you take my portfolio the tenants as you might expect in a wealthy city are far from vulnerable, most are IT and finance graduates in highly paid professional jobs, others have been junior doctors, media/tv workers, post doctoral researchers etc. One thing these people have in common is that they need a nice place to live, often for a short time, before moving on for a job or in some cases buying their own place, a purpose that cannot be fulfilled by buying or social housing.
Tenants are not all the same and in my case they are not the stereotype of the struggling, vulnerable tenant that is being bandied about by the SNP/Green coalition. Why should they have their rents frozen, when I have increasing costs (have just switched a mortgage from c£200 to c£450 a month on one flat) and often although they may be younger than me they may well be from better off backgrounds and have better future prospects than I have myself. The landlord/ tenant asymmetry of Scottish legislation isn’t logical and must be driven of political dogma and chips on shoulders. It also fails to recognise the behaviours/ economics of supply and demand.
I feel cheated to have chosen to invest and work hard (I set up and maintain most if my properties directly) in the private rented sector, if I had chosen to invest in commercial property such as office accommodation I would not have the same unfair constraints on my business. How can that be wise or fair?
It is probably worth saying that I am proud born and bred Scot and am somewhere in the middle of the political spectrum on most issues. I feel that Holyrood is letting me down and has skewed politics to chase independence votes on a number of issues including this one. As a result they are punishing rather than representing people like me.
12:30 PM, 24th January 2023, About 2 months ago
Reply to the comment left by 4bsy at 24/01/2023 - 10:39
I also have family in Scotland and I am up there often; but I would now think twice before *investing* in Scotland. And if my family in Scotland wanted to invest in buy-to-let I would now advise them to invest in buy-to-let in England.
Whether anybody owns a buy-to-let based in Scotland, a bank based in Scotland, or a business based in Scotland what the proprietors of that business need to understand is that Scotland is left-wing. Scotland used to vote labour en masse; and now Scotland votes en-masse for a party of left-wing national socialists.
The SNP is a single-agenda party and if it ever achieved independence for Scotland what is happening now gives you a good idea of what an independent Scotland would look like. Quite what would happen to the Bank of Scotland or the Royal Bank of Scotland if Scotland ever did achieve full independence (it has plenty of autonomy now) I do not know. But as an investor I would be wondering about my RBS or BOS shares if they remained headquartered there.
13:30 PM, 25th January 2023, About 2 months ago
we were fortunate with our timing and managed to remortgage all our current properties during april 2022 and august 2022 for 5 years interest only fixed.
we intend to share some of this good fortune with our tenants and will not be considering any rent increases until mid 2024.
17:46 PM, 25th January 2023, About 2 months ago
Reply to the comment left by Jonathan Cocks at 25/01/2023 - 13:30
So you've been fortunate enough to fix your interest rates (I'm not sure whether that was in England, Scotland or Wales) until 2027 but you are considering raising interest rates from 2024.
So, presumably you still perceive there to be some risk if you don't raise rents ahead of increasing interest payments.
13:00 PM, 26th January 2023, About 2 months ago
Reply to the comment left by Beaver at 25/01/2023 - 17:46
Hi Beaver thank you for your comments.
we have 4 mortgages in England. coincidently with 4 different Lenders and 2 different Mortgage brokers.
i am sorry but i do not understand your comment 'but you are considering raising interest rates in 2024' no i will be considering raising the tenants rents in 2024, based on our outgoings on each property. i am expecting(hoping) interest rates to have peaked by 2024, cashflow risk is not just the cost of mortgages. i expect there will be increases in the cost of my annual gas check, the insurance premium, the maintenance costs, and s2 properties will need money invested to improve the EPC to achieve a 'C' rating. but until i know exactly what is required i am waiting.
15:26 PM, 26th January 2023, About 2 months ago
Reply to the comment left by Jonathan Cocks at 26/01/2023 - 13:00
Ahh...I see. I was confused because this thread is really about Scottish BTL landlords now buying in England. I thought you might have properties in Scotland.
Like you I don't raise rents unnecessarily before I have to and in my case that's because I prefer to reduce the risk of void periods. And yes, all costs are going up. So any further investment I make won't be in Scotland, much as I love visiting the west coast.
But the truth is that the Scottish Nationalists probably wouldn't want me there anyway. 🙂
1:38 AM, 27th January 2023, About 2 months ago
Reply to the comment left by Beaver at 26/01/2023 - 15:26
hi Beaver. i can only apologies for my Senior Moment i did not read the subject matter correctly, and wasting your time etc.
thank you for your last response.
that said it was good to connect,
i do not like Void periods either, and if one has a good tenant, that has added value in its self and i like to speak to my tenants a least monthly to build a working relationship.
i do not own any property in Scotland. i had thought about it 2 years ago as my youngest son was based in Edinburgh. but he has changed jobs and in now based in Aberdeen. He has sorted out his own accommodation, thankfully without me getting involved..
yes i am glad i do not own properties outside England.
15:42 PM, 27th January 2023, About 2 months ago
Reply to the comment left by Jonathan Cocks at 27/01/2023 - 01:38
That's OK thank you. 🙂
The article at the top of this thread seems to have been inspired by the telegraph. They've put an article up about landlords abandoning rental property for improved savings rates here:
Whether you are a landlord renting in England, Wales or Scotland governments need to understand something: Keeping your money under your mattress isn't socially useful, although it does save tax; putting your money in the bank isn't socially useful either; putting a roof over somebody's head is socially useful.
I understand that some investors are now turning to NSI to invest their money...lending their cash to the government in an attempt to fix the enormous c****p of the response to the Covid outbreak. All parties were culpable in that debacle. And it seems there's an attempt now to get 50+ somethings back into the workplace. With attacks on pensions and private property being muted if you were 50+ why would you bother going back into the workplace? You'd be better off spending your money and sticking any surplus under your mattress.
But that doesn't help tenants, wherever they come from.