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
12:04 PM, 8th July 2014, About 9 years ago
This is a quote from the FCA's own Website:
"How we are governed
The Board sets FCA policy, but day-to-day decisions and staff management are the responsibility of our Executive Committee.
We are accountable to the Treasury and, through them, to Parliament.
We are operationally independent of Government and funded entirely by the firms we regulate.
We are an open and transparent organisation providing information for firms, consumers and others about our objectives, plans, policies and rules.
We also ask the difficult questions, that sometimes regulators shy away from asking, of firms, ourselves and consumers."
Neither the Treasury, Parliament or the firms regulated want another lender to fail !
Are there too many vested interests within the FCA?
12:13 PM, 8th July 2014, About 9 years ago
Stonking letter from David Lawrenson there.
I would pay a fortune to see the look on the FCA faces when they opened that one!
12:29 PM, 8th July 2014, About 9 years ago
FCA and FoS are only concerned with 'fairness'.
P118 and CB is concerned with enforcing legal rights for our members and clients, by taking cases to court, before independent judges with no vested interests, acting under clear legal principles with power to enforce their rulings, not looking at some vague notion of 'fairness'.
12:49 PM, 8th July 2014, About 9 years ago
Note that, from the article, the FCA does not seem to suggest that lenders could impose changes out of the blue, but rather whether lenders could rely on a mortgage term allowing them.
So what the FCA seems to be considering is whether a contract term permitting to vary other terms is always unfair.
The article contains a chart depicting their approach to such assessment, to quote:
1. Does the firm has a written term in its mortgage contract that states it is able to make change that it wants to make?
2. Is the term that the firm wants to rely upon fair or unfair under UTCCR 1999?
Mark Alexander - Founder of Property118
13:03 PM, 8th July 2014, About 9 years ago
Reply to the comment left by "Romain " at "08/07/2014 - 12:49":
My understanding of contract law is that an agreement to make a new agreement subject to both parties consent is meaningless as that can always be done regardless of whether the original contract mentions it or not.
The issue here is that mortgage lenders HAVE changed the basis of their contracts unilaterally, i.e. without the other parties consent. Our intention is to prove that this is not legally possible. Why the FCA cannot understand or enforce the law as well as the principles based regulation they are responsible for simply beggars belief.
13:25 PM, 8th July 2014, About 9 years ago
Interesting.......but what can one do?
I am trying to port a BTL mortgage which I took out 10 years ago.
I was living abroad then as I still do now. Woolwich/Barclays quote.....
WE WOULD BE UNABLE TO ARRANGE FOR YOUR WOOLWICH BTL MORTGAGE
TO BE PORTED TO ANOTHER PROPERTY DUE TO YOUR CURRENT RESIDENTIAL
But what they could do for me is...
OPEN A BARCLAYS INTERNATIONAL RELATIONSHIP MANAGED ACCOUNT
and here's the sting...
DEPOSIT £100,000 !!
My rate is 0.89 over base...........ENOUGH SAID.
13:29 PM, 8th July 2014, About 9 years ago
Reply to the comment left by "Mark Alexander" at "08/07/2014 - 13:03":
Mark Smith said (from your quote): "A term can be varied only if the contract permits it."
From the article and the actual FCA document it seems that the FCA does not say otherwise and their discussion seems to focus on whether such terms allowing variations are fair (and thus valid), though they are not exactly stating that in the clearest way possible.
To quote the FCA document:
"Some lenders may therefore seek to rely on the ‘fine print’ of mortgage terms and conditions which, in some cases, allow them to make variations to their mortgage contracts."
"The discussion is based around whether the level of flexibility that firms reserve for themselves is fair, and what factors may be relevant when we make an assessment of the fairness of a change to a regulated mortgage contract".
13:34 PM, 8th July 2014, About 9 years ago
I learned a lot in the last financial crisis. I learned that the "independent" credit reference agencies were not independent. I learned that banks feel they have a divine right to make money regardless of ethics. I learned that banks could legally sell financial instruments that they knew were going to lose money.
I also learned that mortgage companies were just short term traders, who borrowed short term money, lent the money as a mortgage, and then sold the debt on asap so they could start again. So my question is, why do they care what interest rate we are paying, if they've already sold it on to someone (the worst ones to the government)?
PS my recollection of the crisis was that the primary reason for the bank collapse was credit agencies giving A ratings to sub-prime mortgages. But you wouldn't know that now, as the banks have re-written history. It is now received wisdom that the financial crisis was caused by a housing bubble. Nice deflection of the blame.
13:36 PM, 8th July 2014, About 9 years ago
It comes down to Contract Law I would have thought which an "FCA Policy" can not change that.
If I remember rightly Privity of Contract means you "don't" have to enforce a contract term; its up to the parties to enforce it. So Lender can ignore it but you can enforce it if you want.
As for changing terms; Its not up to the FCA both parties should agree to contract term. One party can change contact, unless it says they can in that contract but that should include notice and a route to decline.
Put simply; this is over the FCA quango's head.
Mark Alexander - Founder of Property118
13:44 PM, 8th July 2014, About 9 years ago
Reply to the comment left by "Romain " at "08/07/2014 - 13:29":
I agree and that's the whole point.
The contracts exist, the laws exist, the legal principles of contra proferentem apply to ambiguity in contracts (which isn't the case in my opinion with either the West Brom or BoI cases) and yet the FCA are still refusing to step in or even to seek independent legal advice on what the disputed mortgage contracts actually mean. WHY?
Instead the FCA have launched this meaningless and pointless PR stunt which I can only presume is to make them look like consumer champions - they are NOT!