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
Dr Rosalind Beck
10:22 AM, 16th December 2015, About 7 years ago
Yes, Neil. That was what I thought. There was nothing new - just a repetition of this weird idea that we might all sell en masse. If things get that bad, the whole country will be in the sh*t and there will be a lot of people worse off than BTL landlords.
10:24 AM, 16th December 2015, About 7 years ago
Yes I agree Ros.
I thought I had better comment on what was actually said and the context it was said in as the press as usual blow everything Mark Carney says up out of proportion and usual misunderstand its meaning.
11:05 AM, 16th December 2015, About 7 years ago
It is a bit bizzare that he keeps mentioning it... We know from stats that most landlords only have one property, at the moment at least if a landlord were to sell he would face a potentially large CGT bill and then have the issue of trying to find somewhere to invest the money.
Even when property goes down most people are still relatively positive about prices and will always say in surveys they believe long term prices will go up. Most landlords that have kept the property for a period of time have already seen gains so I dont see how a dip in prices would make anyone rush to sell, just like we saw in the banking crisis when prices dipped landlords were not selling, as long as they could still pay the bills.. Ironically the thing that is more likely to make LL sell is if rates go up, because of the new alice tax will have a double whammy affect.
Personally the properties I have are for my pension, even if they go down i have nowhere better to put the money and they are relatively low LTV so even if rates rise a lot I wont need to sell. Maybe I am wrong but I think they have read the market wrong... More of a danger would be far east foreign investors buying places as if something happens in their own country area then we could catch a cold and everyone bail out at the same time. I dont think Carney has read the sector correctly.
11:49 AM, 16th December 2015, About 7 years ago
Carney is just like all other politicians - they just don't understand how the PRS operates. He obviously thinks that investing in property is like buying shares, and that Landlords will sell at the first sign of a drop in prices. And for some reason crippling the PRS with punitive taxes so that they make a loss, and forcing some Landlords in bankruptcy won't cause Landlords to sell up .
12:17 PM, 16th December 2015, About 7 years ago
Fact is that with a fifteen percent market share and even with a quarter of us selling at the exact same time the market dilution would be 3.4% versus 96.6%. The effects of that on house values is going to be very small.......and this guy is in charge of the B of E. ???
What the hell is he on ??...
More incompetence and more myths being created!! ....He needs to engage a mathematician and listen to them.
12:23 PM, 16th December 2015, About 7 years ago
I agree with the other posts, BTL landlords are highly unlikely to sell en masse due to a fall in property value. However, I am not sure that I agree with Barry Fitzpatrick's cooment that 'And for some reason crippling the PRS with punitive taxes so that they make a loss, and forcing some Landlords in bankruptcy won’t cause Landlords to sell up' is true.
If the only way to avoid bancruptcy or financial hardship is to sell up then that is what will happen. Osborne's assualt on the PRS is going to put many private landlords in exactly that position. My concern is that there will be a significant number of existing BTL properties coming to the market in a short space of time. It is quite feasible that this could have an adverse effect on prices as the market becomes saturated.
I have started to make plans to dispose of my BTL's as Osborne's tax burden will outweigh my rental income by 2020 and I do not want to rely on astronomical rent increases (which may or may not materialise) to sustain my current level of income.
I have made the decision to abandon the UK BTL market and invest elsewhere. I expect many others to do the same.
Will this will have a significant effect on prices? Only time will tell!
12:46 PM, 16th December 2015, About 7 years ago
What with Mark Carney worried we might all sell and Osbourne hoping we will, it's no wonder the politics surrounding this seems so confused.
Of course we all have contingency for interest rate rises. We've been there before. Carney hasn't, and Canada is a very different place.
12:48 PM, 16th December 2015, About 7 years ago
Why on earth would we rush to sell if prices dropped, or for that matter, if interest rates rise a couple of points? As Barry said, we aren't idle speculators dealing in stocks and shares, we're running a long-term business, which for many is our livelihood, and providing homes to people. Prices have already dropped, despite all the hype about prices and rents rocketing. I don't believe a word of this, outside places like London. What am I saying, there are no other places like London, yet what happens there dictates policy for the 95% of the rest of us. Obviously I only have personal experience of the Glasgow market, but I look online a lot at other Scottish areas, and I watch TV programmes such as Homes under the Hammer. Everywhere else seems to have reasonable house prices and rents, many even lower than Glasgow, for some very decent properties. I'm sure like myself, most of us will ride out any drop in prices, leave our tenants secure in their homes, and await the inevitable time when prices pick up again, at least enough to redeem our mortgages at the end of the day. If there is a capital gain that will be a bonus. What is far more likely to cause a rush to sell is clause 24, yet all these politicians and so-called financial experts can't seem to see it?!
12:58 PM, 16th December 2015, About 7 years ago
Mark Carney is doing what his predecessor, Mervyn King, did – he is trying to talk down the housing market without actually doing anything.
How many of us remember King’s speech in 2004 when he asserted that the higher house prices go up, the further they will fall, as if they were subject to the law of gravity rather than the law of supply and demand. The Daily Express’s headline the next day was “House prices to fall 50%”. A buyer for one of my HMO’s pulled out that day, “on the advice of his accountant,” - and he was not alone. My solicitor told me that they had no conveyancing work for 3 weeks after that.
Then prices resumed their rise until August 2007 when Northern Rock’s policy of borrowing short and lending extremely long came to grief. A pity no-one in authority spotted that little flaw.
13:04 PM, 16th December 2015, About 7 years ago
Reply to the comment left by "Annie Stevens" at "16/12/2015 - 12:48":
I agree. Apologies to those who have read this on the Summer Budget thread:
When the sales market died in August 2007 the BofE Bank Rate was 5.75%. My partner and I were making losses but we had to grin and bear it because not enough people were buying, due to lack of confidence and a lack of available lending.
People even became reluctant landlords because they had to relocate without being able to sell. Others became accidental landlords through inheritance. This increase in supply forced rents down.
Admittedly, this squeeze caused some landlords, who did not have enough resources, to have property repossessed. However, I do not think the price fall was caused by many people choosing to sell cheaply. Prices fell because of a dearth of buyers for the reasons above. Both experienced landlords and reluctant/accidental landlords held on to their property because they knew that prices always recover, then go on growing.
Since that time rents have increased. Mark Carney has indicated that BR will not exceed 2.5% in future, and that it will take a long time to get there. So I do not envisage landlords making losses, and if they did, they will have built up savings to withstand them.