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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- 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
15:06 PM, 16th January 2015, About 8 years ago
The argent is acting for the buyer; it’s his job to get the best price.
If the lease doesn’t include a parking space you need to assess if it’s going to be detrimental to any letting or subsequent sale, it will depend on the location and local market. Do other flats in the location all have a space? Speak to a local letting agent who isn’t involved in the sale to see what they think.
Is it a premium or has the market moved? Why would you pay a premium?
Need to check that the service charge is stable at that level, is the block well maintained?
Again if you are not sure speak to a local letting agent about the demand and rent achievable
15:07 PM, 16th January 2015, About 8 years ago
i kinda want to ask the question.... why do you want to buy this? long term capital growth?, monthly income? or, as i see a lot., are you buying it for the sake of buying it? just the figures dont seem to be overly attractive... and ground floor flats are not overly desirable, security and noise issues from flat above.....
15:26 PM, 16th January 2015, About 8 years ago
There is an art to purchasing properties for BTL. Look at the property, do the sums (yield/strategy), decide on a price, make an offer and don't budge! If you loose it don't worry. Wait for another do the same, if you loose that one don't worry etc etc etc. If an agent thinks your hungry he will push you hard for a better deal. As Neil says, the agent is working for the vendor - not you (no matter how nice they seem!). Talk to your local agents, ideally be a cash buyer, find out what properties are difficult to move and establish if you can resolve the problem - if so then that's the property to go for. Good luck - don't rush.
15:30 PM, 16th January 2015, About 8 years ago
Favourite advice of an old solicitor friend “Act is haste, repent at your leisure” –
Don’t be afraid to move on to the next opportunity.
15:45 PM, 16th January 2015, About 8 years ago
It is probably not possible to answer your queries without detailed knowledge of the area and local letting market. Remember that the estate agents are acting for the seller and their job is to get the best price possible, i.e.screw as much as possible out of you (and maximise their commission) but at the end of the day it should be up to the seller whether or not to accept your offer.
Referring to your final query that the property is marketed for 40% share or full buy – this sounds to me like the seller owns the property on a shared-ownership basis. This usually means that a housing association (HA) or similar social landlord owns the remaining share and the owner has to pay a rent for this.
When buying a shared-ownership property there are usually two possibilities:
1. you just buy the existing share from the seller, in which case you would expect to pay 40% of the value of the property.
2. You arrange with the seller and the HA for the property to be 'staircased' on completion. This means that the seller gets his 40% and the association gets the balance and so you end up with a 100% interest in the property (in which case the rent for the 60% share ceases.)
Buying shared-ownership properties is somewhat more complicated than buying a straightforward leashold.
On any sale it is necessary for the seller to notify the HA. They will probably have the right to nominate a buyer for the property from their list of applicants so they might not even be willing to allow the sale to proceed. Even if they decide not to nominate a buyer it can take weeks to get a decision.
Going down route 2 is not always plain sailing. For a start the amount which you would have to pay for the remaining 60% share will depend upon the HA's valuation of the property which may be more than the amount agreed with the seller.
Also the necessary arrangements complicate the contract and purchase process, and it usually takes much longer for everything to be completed than for a straightforward sale.
Another obvious point to check is whether the lease permits letting. The shared-ownership scheme is intended to help people buy their own homes, and letting might not be permitted even if the property is staircased to 100%. As this is a flat it will remain leasehold if it is staircased so the HA will still be the freeholder.
17:28 PM, 16th January 2015, About 8 years ago
Firstly I suspect the Agent is pushing you, the higher offer may be a fairy story if it has dissolved so quickly, probably they see an eager buyer in you.
In my area prices have gone up by that amount in the last 12 months so its not out of order if your area is desirable. But check on Zoopla for sold prices in your postcode, sometimes Zoopla is a bit out but it should give you an idea whether the increase is justified.
As far as shared ownership, if they offering the property as either 40% or full ownership, then you need to know they have the authority to sell the full share and at the price you agree before signing up.
The parking may be that the space has been sold separately elsewhere. Or the current owner is keeping it to let separately. Count up the flats then count the spaces then you will see if they are equal numbers. A parking space is always a plus, but not essential if there is plenty of free street parking close by.
17:56 PM, 16th January 2015, About 8 years ago
There must be other more suitable properties available for you to purchase. It is my understanding that the shared ownership properties are meant for owner-occupation only. This would mean that you could not let it to anybody else, so it is not suitable for BTL-purposes. Best to check with the Housing Association that owns the freehold and the majority share (60%) at the moment. Why look for problems is you can avoid them?
18:09 PM, 16th January 2015, About 8 years ago
Are you intending to self-manage, and therefore buying in your local area?
In some areas in the Midlands and North you get get 3-4 flats for that price and rent them out at £450-£475 per month.... Of course there would be 3-4 sets of 'overheads' but I still think you could make a better profit, even if you're paying a reasonable management fee. And any void periods could be carried by the rental income from the other properties.
'don't put all your eggs in one basket'
18:55 PM, 16th January 2015, About 8 years ago
there must be parking, it is a condition of the planning, min one space per apartment.
8:51 AM, 17th January 2015, About 8 years ago
Yes Polly, are we fortunate in Nottingham? I quite often think that when see other peoples figures, we can get houses up here for 60k, rent £500pm, yes more work 4 houses, but more rent.
I won't like paying the figures other people have to pay down South.