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
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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
Mark Alexander - Founder of Property118
15:39 PM, 27th August 2013, About 10 years ago
Property investment is a marathon not a sprint.
I know how frustrating it is when you just start to get going and then run out of money. It took me seven years to buy my second property!
You are at the stage right know when you will be most vulnerable to the property sharks. These are people who will tell you that you can buy courses on how to grow your business and buy or control property assets with none of your own money. Examples include lease options, rent to rent, no money down financing, joint ventures and a whole lot more. They will tell you that if your follow their strategy that you can give up your day job. I have yet to find one person who started these courses within the last 5 years with no money and ended up being able to provide absolute proof of being successful. However, I have come across plenty who have a big credit card bill and no job as a result of taking such advice. I have also spoken to lots of people who have had to go into IVA's or declare bankruptcy when it all goes horribly wrong.
Please remember this, why don't the the people who sell these courses simply focus their efforts on what they say made them so successful in the first place? They will tell you that they have a calling or a passion to teach people. Well if that really is the case they should do what I am doing and fund their entire business model on voluntary donations shouldn't they?
My advice is do more of what you did to buy your first two properties. It may take years but so be it. You might get lucky too and find that we enter a period of capital appreciation. History does tend to repeat itself and there are plenty of signs that we are coming out of a dead property market and that we are at the beginning of another boom period.
You can read about how I got started and my journey to financial freedom here >>> http://www.property118.com/my-first-intentional-property-investment-part-1-2/29019/
Howard Reuben Cert CII (MP) CeRER
11:22 AM, 28th August 2013, About 10 years ago
Many people share your frustrations that you 'see' your own money in your (bricks and mortar) portfolio but the lenders won't give you access to it.
And of course, here's why; if you could release all of your equity, you would end up with a 100% LTV (loan to value) mortgage and I can tell you straight away that no-one (Scotland or anywhere else in the UK) will secure a mortgage and lend 100% of the property value to you.
If you had sufficient equity across your portfolio, you may have an opportunity to capital raise against more than one property to get the total amount you need.
However, against EACH 'BTL' property, you can probably only get a 75-80% LTV mortgage (although there is one lender that will lend up to 85%LTV as at todays date).
You may be able to get a higher LTV mortgage on your own main residence / home, although that will be based on your income, credit status etc.
As I always say on Property118, you will absolutely benefit from taking advice re all aspects of your plans (ie tax, legal and financial etc) and for financial advice I strongly recommend that you speak with a 'whole of market' Broker.
16:28 PM, 28th August 2013, About 10 years ago
I wouldn't call this advice nor would I recommend you listen to it but one way of raising capital for deposits is to borrow the deposit for your next property on credit cards or a personal loan but you would need to ensure the profit from renting out the property cover the repayments on the money you have borrowed. This is very risky and a sure fire way of getting yourself in financial trouble if you don't no what your doing, but if your dissaplinned enough it does work for some people. But not for all so be careful!
12:04 PM, 29th August 2013, About 10 years ago
Sorry Rob, but I always shudder when people say "borrow money off credit cards for deposits".
It's a very dangerous strategy taught by some property gurus.
What they fail to tell you is that no lender would knowingly allow you to pay for a property deposit on a credit card.
Therefore, you either have to go to a lender who does not ask the question of where the deposit is coming from (of which there are very few), or you have to "hide" the fact that your deposit is coming from credit cards which is tantamount to mortgage fraud!
I would not advise anyone to pay for property deposits on their credit cards. Even if you did get it past the lender, you would end up with 100% financing which is NOT recommended as very risky all round!
We have a current discussion on Property Tribes about methods of buying property with very little money - when scrutinised intensely, most of the methods advocated by gurus simply don't stand up.
This thread makes for an interesting read. We have another thread where LEGITIMATE ways of making money through property with little financial input are also discussed:
I hope these threads help Fred make some informed choices of how to progress.
12:22 PM, 29th August 2013, About 10 years ago
18:28 PM, 29th August 2013, About 10 years ago
Mark Alexander's right. Better going nice and safely. A bit like building foundations. I used Personal Loans, Credit Cards and loads of overtime , 3 jobs for 1 year for my seed money! I worked 3 jobs at one time for a year then 2 jobs for a second year. In 5 years I've only managed to remortgage twice but got a decent income every month. Although I'd describe myself as super safe I almost blew it several times. Just get one at a time on the go with a really decent safety pot, at least 10% of each property's value. I only have 11 properties but am pretty much retired at 46. I had no repairs for 2 years got overconfident and used my safety cash for another property. Next month I had 3 damp proof courses, a major roof repair and a couple of dodgy tenants not paying. Things can go bad overnight in this game! The only reason I didn't go under was due to my letting agent paying my bills upfront and deducting £18k from the rents whilst I scraped an extra £1k a month from going back to work. Get safe first then get rich. Took me 5 years to retire with loads of overtime and loans but now my profit buys properties.
Mark Alexander - Founder of Property118
18:34 PM, 29th August 2013, About 10 years ago
I have just updated my strategy, there's a lot of it but if your up for a lot of reading here it is 🙂 >>> http://www.property118.com/landlords-buy-to-let-property-investment-strategy/basic-fundamentals-of-a-buy-to-let-property-investment-strategy/