Privacy Policy
BACKGROUND:
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.
Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of Our Privacy Policy is deemed to occur upon your first use of Our Site
. If you do not accept and agree with this Privacy Policy, you must stop using Our Site immediately.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
“Account” |
means an account required to access and/or use certain areas and features of Our Site; |
“Cookie” |
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; |
“Cookie Law” |
means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003; |
“personal data” |
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 |
“We/Us/Our” |
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 npatterson@property118.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?
This Privacy Policy applies only to your use of Our Site. Our Site may contain links to other websites. Please note that We have no control over how your data is collected, stored, or used by other websites and We advise you to check the privacy policies of any such websites before providing any data to them.
- 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?
Depending upon your use of Our Site, We may collect some or all of the following personal data (please also see section 13 on Our use of Cookies and similar technologies):
- Name;
- 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?
- We may, from time to time, expand or reduce Our business and this may involve the sale and/or the transfer of control of all or part of Our business. Any personal data that you have provided will, where it is relevant to any part of Our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this Privacy Policy, be permitted to use that data only for the same purposes for which it was originally collected by Us.
- 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.
- You may restrict Our use of Cookies. For more information, see section 13.
- 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 info@property118.com, or using the contact details below in section 14.
- Our Use of Cookies
- Our Site may place and access certain first party Cookies on your computer or device. First party Cookies are those placed directly by Us and are used only by Us. We use Cookies to facilitate and improve your experience of Our Site and to provide and improve Our products AND/OR We have carefully chosen these Cookies and have taken steps to ensure that your privacy and personal data is protected and respected at all times.
- 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:
Name of Cookie |
Purpose |
Strictly Necessary |
JSESSIONID |
Used only to collect performance data, with any identifiable data obfuscated |
No |
__cfduid |
This cookie is strictly necessary for Cloudflare's security features and cannot be turned off. |
Yes |
- 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:
Name of Cookie |
First / Third Party |
Provider |
Purpose |
__utma, __utmb, __utmc, __utmt, __utmz |
First |
Google |
Helps to understand how their visitors engage with our website |
_fbp |
First |
Facebook |
Helps to understand how their visitors engage with our website |
- 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
If you have any questions about Our Site or this Privacy Policy, please contact Us by email at info@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. Please ensure that your query is clear, particularly if it is a request for information about the data We hold about you (as under section 12, above).
- Changes to Our Privacy Policy
We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.
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Sign Up11:19 AM, 29th January 2011, About 14 years ago
This article is without doubt the most interesting and informative piece of information that I have read for a long time. Being a landlord / developer for some 20 years now, I have owned in both single and joint names ( tenants in common ) but have never thought of your approach of selling to spouse and vica versa. Just think of the Estate agency fees that you will save , and the rental void of waiting for an external buyer £££s . Still owning some properties from 20 years ago, and well geared, will hopefully take advantage of your comments I always have intended to hold until my death .However, perhaps you could give me your thoughts on CGT / IHT with regard to holding property in a trust fund ? Excellent info and thanks very much for sharing it freely with others.
Shaun
Mark Alexander - Founder of Property118
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Sign Up11:45 AM, 29th January 2011, About 14 years ago
Hi Shaun
Thank you for your positive feedback.
I have looked into Trusts many times. They are excellent for protecting your own home, mortgage paid off, from the state. As you know, they can claim your home to pay for end of life care. They're also good for IHT. However, for an investor who uses debt as part of a gearing strategy they are fraught with problems. Most lenders will not lend on a property in trust. Coutts will but only at very low LTV's and their client acceptance criteria is extremely conservative.
We are working with a team of IFA's, Estate Planners and the leading UK Tax Barristers on a scheme which I've outlined here. We had hoped the barristers would have settled the scheme by now but it's taking longer than first anticipated. It's very much based on the article you have already read but with all the paperwork in place to safisfy HMRC that the inter-spousal loans will sufficiently reduce the value of the estate without affecting borrowing ability. We will let you know as soon as the scheme is settled. In the meantime, if you would like an introduction to the IFA's I've been using to date, drop me an email; mark@property118.com. They're really good guys, very knowledgeable and property investors themselves so they know what's important to us as landlords / property investors.
Please remember to share this article with any other landlords you know. Just hit the Facebook, Twitter or share buttons below the main article.
Regards
Mark
Lynne Davis
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Sign Up9:58 AM, 3rd January 2012, About 13 years ago
Interesting approach. At the moment my husband works full-time and I have just a small amount of irregular part-time income - not enough to qualify for a mortgage. We haven't been established as landlords long enough to put together three years of accounts to convince a lender that we're creditworthy as landlords alone, so at the moment we need his income to get a mortgage... so wouldn't that mean that I wouldn't be able to borrow on any properties that were in only my name?
Mark Alexander - Founder of Property118
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Sign Up10:03 AM, 3rd January 2012, About 13 years ago
Hi Lynne
I'm not a mortgage broker so I can't answer your question specifically. I'll happily refer you to a good one if you like though or by all means try our Directory. I know that some lenders will take a view on incomes but it sounds to me like you need some specialist advice which needn't actually cost you to obtain.
Ian Ringrose
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Sign Up13:19 PM, 10th January 2012, About 13 years ago
“This isn’t a problem until your loans exceed the amount you paid for the property. If you do end up borrowing more than the property costs and you don’t re-invest the extra funding into more property you will not be able to offset any interest payments on that part of the mortgage against your rental income as an expense for tax purposes.”
I have always thought that it is “the value at the start of first renting” not “what you for the property”, however this only make a difference if you lived in the property for years before renting it out. E.g I think you can re-mortgage to release capital when you start to rent out a former home, but still offset the interest against the rent.The HMRC **may** consider selling properties between spouses to be avoidance of tax, they can claim that any transaction that is done to ONLY save tax is tax avoidance – but most of the time the HMRC has enough on their plates already. But if too many people start doing this, they may take action. (Or some MPs read about it on a website….)
Ian Ringrose
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Sign Up13:21 PM, 10th January 2012, About 13 years ago
If only one of the partners have an income from stable employment, then it is likely that their name will need to be on the mortgage and therefore on the property. I had to give my wife 1% (tenants in common) of a property for this reason as I was between jobs at the time of re-mortgaging.
However if a property has been your main home (principal private residence) in the past, then changing it ownership needs to be thought about very carefully due to capital gains tax issues, mortgages advisors told us to do things (50%/50%) that would have cost a LOT of capital gains tax. (And they are meant to be the experts, but did not even know there may be an issue.)
If you are use tenants in common on a property you rent out and are married, you need to understand what a “Form 17 Notice of declaration of beneficial interests in joint property and income” is and when/if to use it.
Smart Picture
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Sign Up19:15 PM, 5th March 2012, About 13 years ago
Articles like this always seem to focus on the position with married people - what if you are single?
Mark Alexander - Founder of Property118
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Sign Up19:41 PM, 5th March 2012, About 13 years ago
Hi Sharon, you have responded to an article about my strategy. What is your question? I will do my very best to answer it for you and if not I will point you in the right direction to find the answers.
Smart Picture
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Sign Up17:28 PM, 7th March 2012, About 13 years ago
I responded to an article about getting the portfolio ownership structure correct to minimise the tax. My point was that articles such as this always seem to give advice on the assumption that you are a married couple, suggesting solutions for sharing the ownership correctly between husband and wife. Does this mean that if you are single then all of these doors are closed to you? Are there any possibilities in sharing ownership with grown-up children instead, for example?
Claudio Valentini
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Sign Up8:40 AM, 28th June 2012, About 12 years ago
Excellent series of articles btw...my wife and I are just starting out as landlords. We inherited a property which we remortgaged 50% and have recently bought a second with the down payment of the 25% BTL mortgage taken from this refinancing. The remainig cash sits in our offset mortgage savings pot on our main home.Currently we are both into these rental properties 50/50 in terms of deeds and mortgage liability. Very intrigued by your Married couple arrangements though.
Moving forward we plan to do at least two more properties over the next year, probably on a 75%/25% loan to equity arrangement, with an ambition build a larger Portfolio and grow this into a semi retirement project once we raise the BTL deposits and any refurbishment finance.
Any deeper advice on how to restructure ownership/loans/equity on the existing two and how to structure (and who should finance/ own) the future properties/ investments.
I am a higher earner than my wife and effectively I front the ventures, and she is a part time nurse so unlikely to have the salary multiples that might be needed to secure a £140k mortgage...however on a BTL mortgage that might not be relevant.
Keep up the goodwork!