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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||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
Howard Reuben Cert CII (MP) CeRER
9:53 AM, 30th January 2014, About 9 years ago
"Why therefore should ageism be an issue for Buy to Let?" I agree with your sentiment exactly ... and also so do many of our Clients who are currently in their 60's, 70's and 80's too!
Leek Utd BS is one of those excellent smaller lenders who provide support to experienced BTL'ers in this regard and with no maximum age limit at all (although for First Time Buy To Let'ers is on a case by case basis) this is a godsend.
Not only that but our BDM is also excellent and so supportive helping us to help our Clients get cases through.
By the way, the definition of 'experienced landlord' as far as LUBS is concerned is simply that someone already has to own one BTL.
As usual also, this product allows 10% overpayments each year, too.
Mark Alexander - Founder of Property118
10:15 AM, 30th January 2014, About 9 years ago
This is fantastic news for BTL borrowers in their twighlight years such as my parents.
Early responses on Twitter are also very positive:-
My tweet ...
Immediate responses ...
Let's get a Twitter discussion going to spread the word, please RT 🙂
11:02 AM, 30th January 2014, About 9 years ago
Another step in the right direction but as Neil has already said BTL mortgages should not be considered in the same way residential mortgages are so why are lenders insistent on minimum individual income limits that many 60, 70 and 80 year olds don't achieve?
There are still only a very limit number of lenders that are truly not ageist so to any of you other companies out there that subscribe to this and other landlord forums, if you are interested in maximising your business, give us something to really get excited about!
Mark Alexander - Founder of Property118
11:59 AM, 30th January 2014, About 9 years ago
Reply to the comment left by "DC " at "30/01/2014 - 11:02":
I think a minimum income level is relatively prudent as a base level criteria, especially if this is followed up with some common sense underwriting.
For example, if a person who earns £25,000 a year has credit commitments which cost £20,000 a year, other than their BTL mortgages, they are not likely to be a good credit risk.
Frankly, anybody earning less than £20,000 a year is living on the breadline and should not be a landlord in my opinion.
12:13 PM, 30th January 2014, About 9 years ago
Do I do my planning now assuming that in 20 or 30 years time there will still be lenders that will lend regardless of age?
I hope the minimal income of £20K includes profits from letting, as lot of landlords are planning to have very little pension income but lots of rental income. I would not say that £20k was living on breadline if someone has money in the bank and has no mortgage costs on their home.
Mark Alexander - Founder of Property118
12:23 PM, 30th January 2014, About 9 years ago
Reply to the comment left by "Ian Ringrose" at "30/01/2014 - 12:13":
That's a good point Ian, to add to my comment regarding income, I was referring to taxable income from whatever source.
So far as exit strategies are concerned, I always advise people to plan for the worst and then continually seek out better alternatives. These alternatives will change from time to time, for example, equity release on BTL was available last week, this week it isn't. Who know's how long the Leek United BS product will be around, never mind what will be available 20 years from now.
Worst case scenario is premature death, I've got that covered - see >>> http://www.property118.com/landlords-life-insurance-strategy-and-calculator/
Next strategy is minimising tax if I need to sell and financing beyond retirement age, see >>> http://www.property118.com/how-to-become-a-landlord/60765/
15:11 PM, 30th January 2014, About 9 years ago
Reply to the comment left by "Mark Alexander" at "30/01/2014 - 11:59":
"Frankly, anybody earning less than £20,000 a year is living on the breadline and should not be a landlord in my opinion."
I normally go along with most of your ideas and advice but on this occasion I disagree with your opinion Mark. I think you need to take a reality check.
Lots of landlords have the potential to earn in excess of £20k but cannot include it as earnings when applying for mortgages without setting up as a business.
I know responsible property investors/landlords that receive an income or pension below £20k, do not have massive financial commitments such as residential mortgages, outstanding finance or crazy credit card balances and derive a fairly decent income from their property investments but cannot use that as evidence of income; my parents fit the bill. Conversely I also know many high income earners that I wouldn't trust as Monopoly bankers let alone consider as responsible persons to lend money to!
What about those responsible persons that have a decent sum of savings available but earn below the minimum income level?
Why does it have to be so black and white? What happened to the good old days of going to see the bank manager who would consider your individual circumstances before deciding whether to lend or not? Why is a single man with a salary of £20k a better bet that a couple with a joint income of £39k (split 50/50)?
16:01 PM, 30th January 2014, About 9 years ago
On a related issue to that of pure ageism, I experienced a similar prejudice when dropping by a branch of my residential mortgage provider who were offering competitive BTL deals for the first time (this was when the West Bromwich thing suddenly blew up in all our faces). After an enthusiastic start, I was told that if I wasn't earning from paid employment then I wouldn't be eligible to apply. This was despite having a substantial income for 2013-14 and ex-employer pension earnings well in excess of the earnings requirement beyond then. Age too was well inside the specified criterion.
There seemed no earthly reason for the discrimination, other than "the computer says no".
Mark Alexander - Founder of Property118
16:17 PM, 30th January 2014, About 9 years ago
Reply to the comment left by "DC " at "30/01/2014 - 15:11":
Please see my second comment, I did say "taxable earning from whatever source".
That includes employment, pensions, annuities, benefits, deposit interest, self employment, declared rental and investment income amongst other.
How anybody can enjoy a reasonable lifestyle with taxable income less than £20,000 per annum is still totally beyond me, unless of course they are up to something shady and not declaring their income. Savings are fine but they will run out at some point and if you have no income at all and enough savings not to worry about running out of money over the life of a mortgage then you probably have an income of over £20,000 per annum too, if only from the interest on the savings!
I stand by what I said in my first comment and added to in my second comment on this issue. We don't have to agree on everything 🙂
17:08 PM, 30th January 2014, About 9 years ago
Income may be not taxable because:
a) There are lots of tax losses from past years. Could be easily the case for a landlord that recently brought and did up lots of properties with mortgages that have large upfront charges.
b) The income may be exempt from UK income Tax, e.g. some people that used to work for the US air force.
c) Taking money out of a life policy that counts as a return of capital.
d) Income from ISAs (some people have over 1,000,000 in ISAs!)
e) Income from VCTs
f) Capital element of purchased life annuities (e.g annuities not brought with a pension pot)
Also taking pension can be delayed until savings start to run out, likewise paying profits out from a company under your control. Both of these can be a good move in any year when someone is expecting lots of capital gains
I had the above explain to me my by a charity gift aid administrator, a small charity had most of the above stopping at least one donor from using gift aid.