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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- 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
18:19 PM, 1st May 2018, About 5 years ago
This outstanding piece of work by Dr Rosalind Beck is now the definitive document that exposes the governments attack on tenants and landlords. Section 24 directly harms all tenants security of tenure, All PRS landlords livelihoods, and their ability to supply much needed housing and their ability to increase housing year on year. It is depleting available housing at a time Britain is desperate for more homes to rent and to buy. It proves that it is a dangerous nonsensical hateful and destructive piece of legislation that directly harms everyone renting in the private sector and all private sector landlords.
It must be stopped NOW if chaos is to be avoided.
11:28 AM, 2nd May 2018, About 5 years ago
A little understood part of this section 24 is very significant.
One’s rental income, after allowable expenses, but BEFORE deduction of mortgage interest relief, is now added to all other income. Effectively therefore, if one has, for example an income of £30,000 from investment income or employment or pensions, and perhaps three or four buy to lets, your total income before deduction of interest payments move into the area above £100,000 pa. Tax is then deducted on your total income.
Above 100k, taxes are levied at an effective rate of 60%. That is, 40% income tax plus the progressive loss of personal allowances in the ratio of 50p allowance for each pound of income declared. One then obtains a 20% tax credit.
In short, you pay 60% tax and then get back a 3rd of it
So a lot of relatively small landlords are going to be very badly hit when the full section 24 tax reliefs are lost. In short things are worse than they look.
So, if you borrow for a buy to let, it doesn’t work. If you have cash, other investments seems less risky, less work and less headache.
In my view, this is the beginning of the end of Landlording as a profession.
What do you think?
11:08 AM, 3rd May 2018, About 5 years ago
Dr Ros's report is indeed outstanding.
Residential rented property held directly by individuals is now uniquely heavily taxed. You pay 3% tax on purchase, a higher rate of capital gains tax and tax on mortgage interest.
When you add in the very generous tax breaks available on other investments, such as ISAs and pension funds, there is now an extraordinarily unlevel playing field.
There is also an extraordinarily unlevel tax treatment between owner-occupiers and landlords. Owner-occupiers pay no capital gains tax and no income tax on their 'imputed' rent (i.e. the rental value of their home), this tax having been abolished in 1963. The government's argument that the removal of landlords' interest deduction was levelling the playing field with owner-occupiers because they receive no mortgage interest tax relief is therefore entirely spurious as homeowners are not paying the corresponding income tax.
Mark Alexander - Founder of Property118
15:31 PM, 3rd May 2018, About 5 years ago
Reply to the comment left by Rob Thomas at 03/05/2018 - 11:08
Brilliant comment Rob, I love that.
Would you mind posting it on the Section 24 billboard fundraiser page please?
15:42 PM, 3rd May 2018, About 5 years ago
Reply to the comment left by Mark Alexander at 03/05/2018 - 15:31
Thanks Mark. Have reposted the comments as you requested. Let's hope the billboard campaign raises the profile of our message.
18:09 PM, 3rd May 2018, About 5 years ago
One could see something like this coming from 2008.
Rates were so,low returns in the bank so poor that many invested in the downturn, when property could be sourced for 70% less than my area currently costs.
The huge shift of money never went unnoticed but for a time the landlord was loved by estate agents, tenants and the government because without them, the market was depressed and would have stayed so.
QI ‘helped’ to raise prices as much free money got poured into the market by anyone capable of signing their names, and the market just about turned over.
Losing council stock but gaining private stock was a godsend - whilst it suited the gvt.
Our gvt is usually very predictable, they watch where the money goes, turn a blind eye when it suits and when the prices get driven up so high they offer their long awaited ‘solutions’, namely ripping off the investor.
Our country is bankrupt has been for a great many years they need to squeeze the pips out of any situation, has always been thus.
As a landlord myself, albeit very very small I don’t have a lot of sympathy for the much larger investor and I’m anticipating two things.
1) investors feeding off other investors very very soon, desperate to sell up in what will be a supply led downturn and
2) for the ltd entities that many have been advised to enter into to be attacked in some form or another, the gvt generally waits a while so this could be within 5-6 but I’m expecting something to change.
Unfortunately our ilk has been duped like a rat trying to escape the titanic, I only hope the small investors like me were similarly well positioned and prepared and it’s the small investor who isn’t likely to set up a ltd company and will be the first to fry when this heats up.
There is an essential place for us landlord in today’s market particularly after all the sell offs but free money, greed, over leveraging etc will eventually flesh out as the incumbent gvt at the time looks to buy the votes of the millenials and I don’t see these ‘escape vehicles’ being long term, as the gvt seeks to screw the lot of us.
21:42 PM, 9th October 2018, About 5 years ago
Mark Alexander - Founder of Property118
22:01 PM, 9th October 2018, About 5 years ago
Reply to the comment left by B4lamb at 09/10/2018 - 21:42
No, sorry, I do not know what you are trying to say. At the very least, the points you are making are unclear.
Are you suggesting that new landlords have the option of buying in Limited Company whereas established landlords have had the rules of the game they were playing changed retro-actively? If so, then I agree with that.
Are you saying that leveraged landlords are probably doing better than unleveraged landlords? If so, then I would probably agree with that to. That can probably be said for most business sectors though.
I do not agree that BTL lending to Limited Companies is more expensive than for private landlords. It used to be, but that is changing quickly. It is also easier to get a BTL mortgage in a company name than a private name now, since the rules of the game were all changed.
Section 24 is certainly polarising the market, but whether that's a good or a bad thing for the economy in the long term remains to be seen and will always be a hot topic of conversation meanwhile.
23:03 PM, 9th October 2018, About 5 years ago
Reply to the comment left by B4lamb at 09/10/2018 - 21:42"Why would investors that borrow money to buy a property expect a special goverment privalage or gift that investors who have committed more of their ackrued wealth in properties to let? "
Borrowing money to expand a business thereby growing taxable profit is very common in every business sector; being able to deduct interest costs to generate that extra profit is an established principle, and has been incorporated in GAAP for centuries. The economy would grind to a standstill if businesses couldn't borrow to expand.
So interest costs are not a privelege at all but a legitimate business expense.
Without leverage my own portfolio would 4-5 times smaller, and the taxable profit 2-3 times less, and tax take 4-6 times less (no longer subject to higher rates of income tax). So the Treasury would lose out as well. Leverage is good for the Exchequer.
23:44 PM, 9th October 2018, About 5 years ago