Privacy Policy
BACKGROUND:
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.
Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of Our Privacy Policy is deemed to occur upon your first use of Our Site
. If you do not accept and agree with this Privacy Policy, you must stop using Our Site immediately.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
| “Account” |
means an account required to access and/or use certain areas and features of Our Site; |
| “Cookie” |
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; |
| “Cookie Law” |
means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003; |
| “personal data” |
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 |
| “We/Us/Our” |
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 npatterson@property118.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?
This Privacy Policy applies only to your use of Our Site. Our Site may contain links to other websites. Please note that We have no control over how your data is collected, stored, or used by other websites and We advise you to check the privacy policies of any such websites before providing any data to them.
- 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?
Depending upon your use of Our Site, We may collect some or all of the following personal data (please also see section 13 on Our use of Cookies and similar technologies):
- Name;
- 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?
- We may, from time to time, expand or reduce Our business and this may involve the sale and/or the transfer of control of all or part of Our business. Any personal data that you have provided will, where it is relevant to any part of Our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this Privacy Policy, be permitted to use that data only for the same purposes for which it was originally collected by Us.
- 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.
- You may restrict Our use of Cookies. For more information, see section 13.
- 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 info@property118.com, or using the contact details below in section 14.
- Our Use of Cookies
- Our Site may place and access certain first party Cookies on your computer or device. First party Cookies are those placed directly by Us and are used only by Us. We use Cookies to facilitate and improve your experience of Our Site and to provide and improve Our products AND/OR We have carefully chosen these Cookies and have taken steps to ensure that your privacy and personal data is protected and respected at all times.
- 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 |
Purpose |
Strictly Necessary |
| JSESSIONID |
Used only to collect performance data, with any identifiable data obfuscated |
No |
| __cfduid |
This cookie is strictly necessary for Cloudflare's security features and cannot be turned off. |
Yes |
- 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 |
Provider |
Purpose |
| __utma, __utmb, __utmc, __utmt, __utmz |
First |
Google |
Helps to understand how their visitors engage with our website |
| _fbp |
First |
Facebook |
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
If you have any questions about Our Site or this Privacy Policy, please contact Us by email at info@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. Please ensure that your query is clear, particularly if it is a request for information about the data We hold about you (as under section 12, above).
- Changes to Our Privacy Policy
We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.
Joe Bono
11:53 AM, 2nd August 2019, About 5 years ago
No brainer - SELL and enjoy your capital now
Mark Alexander - Founder of Property118
11:56 AM, 2nd August 2019, About 5 years ago
Reply to the comment left by Joe Bono at 02/08/2019 - 11:53
Welcome to Property118 Joe, I see that you are a new member today.
However, I disagree with your first post, because I follow the logic of this ladies question.
Why do you think she should sell?
Corral
12:06 PM, 2nd August 2019, About 5 years ago
This is Equity Release (under any name you want to call it) Look at the “+” and “-“
+ This Mortgage will give you about £70K for your savings account.
+ You will have paid off your Mortgage
+ You will be Renting – so your Rental income should be able to service the Mortgage and ongoing costs of House ownership maintenance etc. I would caution against Roll-over!
+ You have the option of spending at will, investing, or buying a little bolt-hole with your £70K
If you choose to make no further monthly mortgage payments - There are negatives
- It’s a loan secured against your home.
- The Interest is rolled over and it is only expected to be repaid on death or entry into long-term care!
- Roll-over of interest is Compound Interest THEREFORE the amount you owe can grow quite quickly.
- Long-term care may not be available on the public system in 15, 20, or 30 years’ time so you would need property as a “Bricks ´n Mortar resource”
- Equity release MAY have tax implications
DISTURBING
At the stroke of a pen in 2015 the ending Tax Relief on Mortgages was introduced. I think that pen is still in the Chancellor´s drawer. ( He is responsible for raising revenue through taxation or borrowing and for controlling public spending which will continue - Ad infinitum)
About 2000 to 2009 banks Entered Stage Right & cleverly packaged loans, mortgages, etc 2009 enter stage left Crash
The one thing you can be certain of looking into the future is uncertainty!
Blodwyn
12:34 PM, 2nd August 2019, About 5 years ago
Corral is right. Read, mark and digest!
I am well aware that I seem to inhabit the minority in disliking intensely Equity Release and such like contracts involving in compound interest. That rolls up at a frightening rate over just a few years to destroy equity and for nothing left over. I wear a former professional indemnity legal hat.
At 65 and with the benefit of ever increasing medical magic, you may live another 30+ years. Keep in mind the cyclicality of property prices. For each downturn there follows an upturn. It's up to you to assess your needs and to get the best qualified property advice. Put the phone down on the shyster who offers 'free' reviews of this and that, they are only interested in parting you from your nest-egg.
Whatever you do, don't touch any form of Lifetime Mortgage, Equity Release or however the same dreadful product is wrapped up and sees compound interest ramping up along with swingeing penalties for early redemption. Such contracts have the smell of the next mis-selling scandal. After the insurers and banks have used up all their reserves (your money from increased premiums and charges) set aside for PPI claims, they will then have to come in time for more to bail out the victims of Equity Release. The 'victims' are the customers (e.g.: you) themselves and disappointed beneficiaries whose predecessors were improperly advised to take out the Loan from Hell.
Faced with an army of complainants and their ambulance-chasing lawyers turning them into claimants, banks and insurers generally cave in and submit to the 'buy them off' syndrome.
It may take for ever and an age but this perhaps pessimist sees only wailing and clamour in the impending daaarknesss!!! And the same ball rolls again.... we never learn.
Mark Alexander - Founder of Property118
12:40 PM, 2nd August 2019, About 5 years ago
I think the key driving factor here is that it is unlikely that you would qualify for a traditional interest only BTL mortgage where you service the interest monthly. The secondary issue is cashflow.
I agree with the comments regarding roll up of debt and the effects of compounding interest, but I don’t see why you would have any cause to be concerned about this. Also, whilst the debt will grow, it is also likely that your property value will too over the longer term. Which will grow quicker is anybody’s guess.
The Lifetime BTL mortgage seems to me to be a better alternative than selling the goose that is likely to continue to lay golden eggs for you, especially if it is managed properly, insured properly and tenants are chosen wisely.
If you wanted to leave a legacy for others this would make your decision a lot harder
Mark Alexander - Founder of Property118
12:51 PM, 2nd August 2019, About 5 years ago
Here’s another alternative for you to consider.
Sell the property, pay off the mortgage and have £1,000,000. Even after paying the tax and the costs of selling that will leave you with a very big chunk of money. How long will it take you to spend all of that? How long will you live? Where might you be able to invest that money to make it last even longer? Do you want the hassle of a rental property? Do you have other reasons for wanting to hold onto it?
Allan Thornton
15:51 PM, 2nd August 2019, About 5 years ago
I agree with Mark Alexanders last comment. £1M will get you 10-15 properties with a solid rental income of more than the £36k you speak of - in your present location. So you can afford to choose a good property manager (another subject to think long and hard on) and relax a bit in later years.
Joe Bono
16:00 PM, 2nd August 2019, About 5 years ago
Reply to the comment left by Mark Alexander at 02/08/2019 - 11:56Hi Mark
This lady is single, no children, does not want or need aggravation from tenants, with the net sale proceeds in cash she has independence, financial freedom, no risk and most of all peace of mind to enjoy her golden years.
Jo Jolly
17:03 PM, 2nd August 2019, About 5 years ago
Most BTL mortgage lenders will give you a mortgage until you are least 75 years old. You only require an income of over £2000. They assess the value of your property against potential rental value (not past profits). I use the Mortgage Works who have an extensive range of mortgages on offer to suit your needs. You require a broker in the first instance to arrange it. Going forward you switch to better deals online via their website. Investigate this option before you sell your biggest asset which will be increasing in value substantially over the years.
Mark Alexander - Founder of Property118
17:14 PM, 2nd August 2019, About 5 years ago
Reply to the comment left by Jo Jolly at 02/08/2019 - 17:03
I think maybe you meant £25,000 minimum declared annual taxable income?
The lady has made it quite clear this isn't the case, and with just one property she isn't a portfolio landlord so cannot obtain mortgages on that basis either.