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:
|Name of Cookie
||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:
|Name of Cookie
||First / Third Party
|__utma, __utmb, __utmc, __utmt, __utmz
||Helps to understand how their visitors engage with our website
||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
19:55 PM, 12th December 2018, About 5 years ago
Reply to the comment left by AA at 12/12/2018 - 19:53
19:57 PM, 12th December 2018, About 5 years ago
Reply to the comment left by Gwen Davies at 12/12/2018 - 19:42
Yes the borrower may have taken the money - but it was not a "loan" by the legal definition, therefore the issued contract was incorrectly referenced. The judge refused to rule on it as it would bring the whole mortgage business down.
22:44 PM, 12th December 2018, About 5 years ago
Reply to the comment left by AA at 12/12/2018 - 19:57
That is the problem. You can’t win without destroying the whole economy again! Just think the lenders should treat borrowers fairly. Actually I think there’s a law that says they must. Crazy!
15:09 PM, 14th December 2018, About 5 years ago
Reply to the comment left by AA at 12/12/2018 - 19:53
Tony Hancock was a genius and I don't see what's wrong with his request.
I believe it is to do with money being fungible.
12:20 PM, 15th December 2018, About 5 years ago
I'm sorry to say that to me this smacks of the blame culture we are in. If things go wrong it must be someone else's fault. It was entirely your choice to apply for these loans no doubt like most of us in the hope of having a profitable rental business and a secure investment for the future. When it goes wrong it must then be someone else's fault, in this case the banks and whilst it may be true to say the banks also bought into the risk I would suggest you consider:- How long have you had the properties, how much equity have you taken out over the term, how much profit have you made from the rentals and how much have you made from the rest of your portfolio? Presumably if these were made irresponsibly to you, all your loans were. Therefore, any liability on the banks part would be for your current negative equity minus all profits taken so far plus any profit sitting in the remainder of your mortgaged portfolio. If that still shows an outstanding loss, one wonders why you not only continued but expanded your business.
Good luck with your claim, Mike
14:00 PM, 15th December 2018, About 5 years ago
Reply to the comment left by Mike McDonagh at 15/12/2018 - 12:20
Hi Mike thank you for your comments you seem to be of the same opinion as everyone else on this site but can I please explain how I see the situation.
The Banking Crisis was an exceptional event.
It was brought on by the global financial crisis not anyone’s fault in this country.
However our banks in the main did not have sufficient capital to sustain what they were lending.
Mervyn King (head of Bank of England in 2007/8) said the Banking Crisis was due to reckless lending on the parts of the banks. That is they didn’t have sufficient reserve funds to sustain their business when the global crisis hit.
This situation is not likely to occur again in the future because the regulators have introduced systems to ensure that Banks hold sufficient reserves before they are allowed to operate as lenders.
These regulations have only been introduced since the Banking Crisis occurred.
So any restitution now is not likely to impact on future mortgage lending as one commentator suggested it would.
However, over a ten year period it is unprecedented that a house would remain in negative equity.
House prices do fluctuate but never in the past have they not increased to above the value placed on them 10 years previously.
This is an exceptional circumstance.
Sure I took a risk. The bank took a risk. But at the beginning of the contract we both calculated that this was a safe risk. Never over decades in the past have house prices not risen (despite fluctuations) over a ten year period.
So why has this happened now.
It is due to the exceptional circumstance of the Banking Crisis.
This was not my fault. The Banks have admitted their responsibility for the Banking Crisis and apologised for their part in it. It will also not happen again due to the new regulations.
Economics rule. And so in most areas of the UK property values have risen sufficiently to negate negative equity and even show large profits but these are mainly in cities and more affluent areas.
My houses are in a working class areas.
These areas were hit harder. Values dropped dramatically and the austerity measures introduced by the government hit these areas most. Wages were frozen businesses collapsed. Workers were asked to reduce their wages. We are recovering but at a much slower pace than the more affluent areas.
When I took the mortgages I contemplated with the mortgage company that at the end of contract there would be sufficient equity for me to refinance or sell with a profit.
The reason that this is not possible is due to the exceptional circumstances of the Banking Crisis. This was a seismic event. It impacted the whole economy.
Yes I took a calculated risk. The Bank also did after doing specialist due diligence. Clearly neither one of us would have taken this risk had we foreseen the Banking Crisis. It was unforeseeable at the formation of the contract.
I clearly had no part in the banking crisis but the banks were responsible. As such I feel they should work with me to find an agreeable solution. It feels to me as if I’m carrying the can for their recklessness. They’ve either had to stop lending or they’ve disappeared altogether and the government using taxpayers money have bailed them out. They were supported why can’t they now work with me to support me after this exceptional event.?
I wonder if you still think I’m just trying to blame it on someone else?
I suppose I am blaming the Banks. But it was a “BANKING Crisis”. It was unforseeable at the start of the contract but the effect is still being felt. All I’m asking is to be treated fairly by the “BANKS”.
Please tell me if you can see my point of view?
14:23 PM, 15th December 2018, About 5 years ago
Reply to the comment left by Gwen Davies at 15/12/2018 - 14:00Mike’s last point was more pure logic. If you follow the thought-pathway that ‘the banks’ caused the circumstances whereby you lost money (and therefore should hold financial responsibility), then the same must be true for any profits you made. You can’t win without also losing…even if you could convince the Courts.
15:50 PM, 15th December 2018, About 5 years ago
Reply to the comment left by Luke P at 15/12/2018 - 14:23
Thank you Luke for your comments. In a famous case a ship delivered sugar late. Because of the late delivery the sugar was sold at a loss and they sued the shipping company and won. The courts said it was because the shipping company contemplated at the start of the contract that sugar prices fluctuate and it could just as easily been that they were up and then they wouldn’t have sued for loss of profit but the shipping company would not have been eligible for a portion of their gain. They were having it delivered to make a gain. This was contemplated at the beginning of the contract. The court held that it’s to do with the contemplation at the beginning of the contract. The late delivery of sugar (breached the contract) and the shipping company knew that sugar prices fluctuate so delivery time was important. The mortgage company contemplated the end of contract terms and but for “the Banking Crisis “ (they were complicit in this) the contract would have completed in the contemplated manner.
Do you see my side now?
16:55 PM, 15th December 2018, About 5 years ago
Reply to the comment left by Gwen Davies at 15/12/2018 - 15:50
Gwen, you are like a dog with a bone. How many times do you need to be told that your argument has no legal merit whatsoever?
17:04 PM, 15th December 2018, About 5 years ago
Reply to the comment left by Seething Landlord at 15/12/2018 - 16:55
I still don’t understand why! But clearly you know better than I do.