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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||First / Third Party
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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
0:13 AM, 22nd April 2012, About 11 years ago
How does one make
tax returns on one's properties as a business?
Mark Alexander - Founder of Property118
9:05 AM, 22nd April 2012, About 11 years ago
Hi Paul, in the first instance I would suggest you arrange to meet with an accountant for some advice. To find one in your area see the following link
17:50 PM, 22nd April 2012, About 11 years ago
This ruling has very serious implications for a work around to still obtain BTL mortgages on rental income criteria.
Possibly transferring property into a company would have allowed BTL mortgages to still be obtained despite the EU regulation being introduced which will ban such criteria for BTL mortgages.
Another nail in the coffin of small landlord existence or rather any further progression.
This will just leave zombie LL to retain existing portfolios but being able to do no more, not even remortgaging.
Yes they will still have income but no more possibilities of purchasing more property.
Poorer LL will effectively be in the position of FTB.
Not enough income and not enough deposit.
So where are all the new tenants going to live if there is very little supply coming onto the market.!?
Of course one could see that LL who have a negative equity portfolio could transfer into a company as they would have no capital gains to concern themselves with.
It maybe that via a company LL could still obtain BTL mortgages on rental criteria.
A bizarre situation wherein successful LL would be stopped in their tracks because of capital gains issues compared to unsuccessful ones who have no capital gains to concern themselves with, may yet progress potentially purchasing more property on rental income criteria.
I know BTL lenders are working furiously behind the scenes to amelierate this problem and even prevent the EU regulation coming in.
But you would have thought by now govt should have been able to state what will happen.
Whilst no one knows what is going to happen LL will put things on hold.
How this is supposed to assist the ongoing tenant demand I don't know!?
Mark Alexander - Founder of Property118
11:22 AM, 23rd April 2012, About 11 years ago
Calm down Paul, there's always a way around these issues. What's to stop a people creating a company to manage their properties, applying for a commercial loan in the name of that company and then proving a personal guarantee for the loan secured by mortgages over buy to let properties owned personally? The security to the lender is identical, the buy to let owner doesn't need to transfer properties so CGT and Stamp Duty are irrelevant and the EU rules will not apply to the loan as its a corporate borrower using the money for business purposes.
15:52 PM, 23rd April 2012, About 11 years ago
sorry guys wrong it is possible to have negative equity and still be liable for capital gains tax
also how are you going to refinance property with negative equity? please introduce me to that lender
cant see any lender willing to lend money to a ltd company on the basis that the property is owned by a thirdparty ie director ,where is the direct line of securitisation even with personal guarantee can you imagine the fun the lender would have in obtaining possesion in default why would they take the risk and at what rate of interest
bye for now
19:47 PM, 23rd April 2012, About 11 years ago
Heres hoping these work arounds will work and be expedient.
There will be lots of LL out there who will need and wish to avail themselves of such a situation.
What happens though with LL who have positive cash flow but massive negaive equity.
The will become zombie LL if they do not have to remortgage.
Also arn't commercial loan terms short term as a matter of course.
For most LL they will be entering areas of finance beyond their normal understanding.
Possibly a window of business opportunity for you to provide ready made solutions for these inevitable circumstances.
Mark Alexander - Founder of Property118
20:53 PM, 23rd April 2012, About 11 years ago
It's early days yet so let's wait and see what happens. There's no point building a business model for something that may never happen. To answer the other points raised, whatever happens regarding EU regulation, landlords with little or no equity or even negative equity are stuck with whatever arrangements they have previously made. Perhaps more to the point, their lenders are stuck with them!
21:11 PM, 23rd April 2012, About 11 years ago
Yes i agree, the problem though will be for LL who have been on fixed rates will have to proceed onto SVR.
These could be anything the lender chooses
Personally I'm stuck with 2% above BBR foe the next 20 years!
Others are at the mercy of whatever a lender decides will be their SVR.
A very worrying time for LL coming off fixed rates.
17:06 PM, 24th April 2012, About 11 years ago
As Policy Director for the Residential Landlords Association I can confirm that we along with the British Property Federation the National Landlords Association and the Council of Mortgage Lenders are all working hard to counteract the draft EU Residential Mortgages and its potential adverse impact on BtL. The signs are looking hopeful. Vicky Ford MEP for East Anglia has been particularly helpful. The Treasury are also playing their part.
The problem with this decision is that it overturns long established accepted HMRC practice to treat tranfers of reidential lettings to companies as businesses for the purpose of allowing gains to be held over, when incorporating. This has been a key element of tax planning. There has always been some doubt as to whether it applies to a single property as here but if it is of general application so that it means that you can no longer hold over gains one important tax planning avenue is closed down
1:48 AM, 25th April 2012, About 11 years ago
It is very worrying then .
It seems a virtual storm; a major tax plannng avenue cut off.
EU regulation looking more than likely.
On what basis do you think you will be able to counteract this draft regulation.
The EU is mightier than all of you.
I think the BTL industry is on it's way to hell in a handcart!
Particularly for small LL.
Reduction of lending criteria has destroyed the residential sales market particularly for the FTB.
The same thing WILL happen to the BTL lenders with this EU BTL regulation introduced.
Are there any recent examples of where an EU regulation was not brought into force because of action by this govt.
I can't think of any.
I have to say I am very pessimistic as to what is going on.
I will operate my properties on the basis that these restrictions will be coming in.
To be so pessimistic I know is not very optimistic!; but I can't see the govt stopping this EU regulation and HMRC are certainly not going to allow reinstatement of this tax saving measure for LANDLORDS.
It seems to me that the BTL industry is under wholesale attack, just at the time when it is needed most.
If this is an example of the govt looking after the country's interests then God help the UK.