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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||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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||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
11:52 AM, 12th December 2018, About 5 years ago
Reply to the comment left by Gwen Davies at 12/12/2018 - 11:12
Where is the authority for your statement that “the lender must perform the contract with care and skill”? Even if that applied to the decision to lend initially, circumstances have changed. The lender is not obliged to keep lending. At the end of a fixed term it can either ask for repayment or move you onto an uncompetitive SVR.
Czarnikow Ltd v Koufos (The Heron II)  1 AC 350 is a case about remoteness of contractual damages. What has it to do with your case?
Even if you could show that the banking crisis caused the drop in the market, why does that mean that your lender has to keep lending to you on favourable terms?
12:26 PM, 12th December 2018, About 5 years ago
Reply to the comment left by Gwen Davies at 12/12/2018 - 11:26
No, I do not agree. And neither have I missed your point. I simply don’t believe you have a point.
13:14 PM, 12th December 2018, About 5 years ago
Reply to the comment left by Rob Crawford at 12/12/2018 - 11:45
Hi Rob I have spoken to lenders but only the ones I have mortgages with. I’m still in the process .
I still don’t understand why nobody sees my point.
If I had known that the Banking Crisis was about to occur and I was signing a mortgage with one of the banks who was complicit in the banking crisis I would never have taken the risk. Any reasonable man or officious bystander would have said it should be assumed that banks were stable and not about to have to stop lending. Surely this means that the implied term that the lender will perform with care and skill is something a reasonable person would assume to be the case? By the way this comes from “the consumer credit act 2015 section 49”. And it says EVERY contract.
Sorry Rob I digressed from your question but think I answered it at the beginning. Thank you
13:23 PM, 12th December 2018, About 5 years ago
Reply to the comment left by Ian Narbeth at 12/12/2018 - 11:52
Hi Ian it’s to do with the contemplation at the outset of the contract. The mortgage company and I contemplated that the house would exceed the value over a ten year period. In fact they would have had expert statisticians doing due diligence. I relied on their due diligence. If they had thought that this would not be a safe risk but lent anyway that would be irresponsible lending. They didn’t think this was unsafe. But the banking crisis during the contract term destroyed the value of my property. That loss would be easy enough to document. Clearly time coupled with inflation will reduce this loss.
13:31 PM, 12th December 2018, About 5 years ago
I am not an expert, but I think you would have to prove that the banks did not perform your particular contracts with care and skill. It would seem that, at the time, they had acted reasonably to lend you the money on the agreed terms. Obviously, if your bank, your financial adviser or you had foreseen what would happen, the loans would not have gone ahead.
Another point is that the average property price is now well above the peak just before the banking crash, therefore it could be argued that there are other specific reasons why your properties have negative equity apart from the crash.
13:32 PM, 12th December 2018, About 5 years ago
The contract term that the lender "must perform the contract with care and skill” refers to the administration of the mortgage not the lending decision itself. The bank lent you the sum you wanted to borrow - neither you nor they have a crystal ball and sometimes you and the bank will loss money because house prices fall or some other reason. That's just ordinary business risk.
13:57 PM, 12th December 2018, About 5 years ago
Gwen, you are barking up the wrong tree. The Act covers contracts for the supply of goods or services and in any event S49 only protects "consumers" as defined - see below.
Consumer Rights Act 2015
S2 (3) "Consumer” means an individual acting for purposes that are wholly or mainly outside that individual’s trade, business, craft or profession.
S48 (1)This Chapter applies to a contract for a trader to supply a service to a consumer
S49 (1)Every contract to supply a service is to be treated as including a term that the trader must perform the service with reasonable care and skill.
14:01 PM, 12th December 2018, About 5 years ago
Do you have any evidence that your bank took part in reckless lending?
Or are they just a victim, like you?
14:19 PM, 12th December 2018, About 5 years ago
Reply to the comment left by Gwen Davies at 12/12/2018 - 13:23
Sorry if we all seem unsympathetic but as Seething Landlord writes you are barking up the wrong tree.
You write: "If I had known that the Banking Crisis was about to occur and I was signing a mortgage with one of the banks who was complicit in the banking crisis I would never have taken the risk." I will grant that you would not have taken the risk, but whether the lender "was complicit" is beside the point.
"Any reasonable man or officious bystander would have said it should be assumed that banks were stable and not about to have to stop lending". Whether your lender has decided to stop or is unable to continue lending is completely irrelevant. The questions are: Do they have to continue lending to you? Answer No. Can they call in the loan? Answer Yes.
In reply to me you wrote:
"The mortgage company and I contemplated that the house would exceed the value over a ten year period. In fact they would have had expert statisticians doing due diligence. I relied on their due diligence."
With the greatest respect, that doesn't wash. First, even if you both contemplated it, so what? Facts change. Markets go down. That's life. Second, whether or not they had statisticians doing due diligence is irrelevant. They will have received a valuation for the property which is a snapshot, not a forecast and not a guarantee that the value can never go down. They lent you a percentage of that valuation. Third, you did not rely on their due diligence in any meaningful sense. Fourth, even if you did, the bank will have excluded any duty of care to you so legally you have no redress.
Your line of argument boils down to: Because the bank lent me money, what I invested in ought to have been a sure-fire thing because otherwise a big clever bank wouldn't have lent. It wasn't a good deal and I want the bank to help me out.
Gwen, seriously, get some professional help and speak to an IVA if you are unable to repay your debts.
14:36 PM, 12th December 2018, About 5 years ago
Reply to the comment left by Ian Narbeth at 12/12/2018 - 14:19
Thank you for your reply but I still want to argue that property by it’s very nature fluctuates in value. So yes, there was a risk. But, in this scenario the banks did not perform with care and skill. They nearly bankrupt the whole economy. Their lack of care and skill caused the banking crisis which in turn caused the dramatic drop in property values. My contract was with them. And they did not perform with care and skill. If an outside influences had caused the drop in value I wouldn’t be arguing the point. But it was the bank (the one I have the contract with) who caused the banking crisis. Do you think the banks performed with care and skill? They have actually admitted that they caused the banking crisis. So how can they then say they performed with care and skill? In what other way would they perform a contract with care and skill?