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
||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
Mark Alexander - Founder of Property118
9:28 AM, 30th January 2013, About 10 years ago
Here's my thoughts on this. When I drop dead I'd like to think that Svetlana (my wife) would keep my buy to let portfolio. However, as my portfolio was built before I ever knew Svetlana the properties and the mortgages are in my name. I'm not going to change that because that would involve refinancing away from some incredible deals I arranged pre-credit crunch. Therefore, Svetlana will need to refinance if I out live her. That will be a big cost. Also, the mortgages will cost more as lenders margins have increased. Therefore, to maintain the same cashflow will mean that she will need to reduce the mortgage balances. Where will this money come from? Life insurance insurance of course! I've also made sure that my life insurance is written into trust, just in case we both die at the same time. Any money left to Svetlana will obviously be tax free as we are married, however, anything we leave to anybody else, such as our children, will be subject to 40% inheritance tax on everything over £325,000. By writing the policies into trust I've effectively given them away whilst they are worthless. Therefore, when I die the payout doesn't form part of my estate.
I'm not a financial adviser but I would suggest the minimum amount of life insurance that a landlord needs is whatever would be required to reduce the LTV on his portfolio to at least 50%, plus of course all the costs of refinancing.
Of course, if you've got no friends or loved ones that you who financial security you would like to protect or leave your properties to there's absolutely no need to buy any life insurance at all.
For most people with families though I suspect it's very important.
2:30 AM, 31st January 2013, About 10 years ago
If the properties and mortgages are in join names with a nice positive cash flow, I don’t see need for live cover to pay off the mortgages. It also depends on how much your partner earns etc.
I also have enough money in pensions that will be paid to my wife to sort out problems with the properties.
Mark Alexander - Founder of Property118
4:56 AM, 31st January 2013, About 10 years ago
Hi Ian, what makes you think that the mortgage lenders will not call in the mortgages if you or your wife pass away during the mortgage term? I have every reason to believe they would call them in, especially if the mortgages are with one of those lenders which are no longer in the business of lending, e.g. NRAM, MX, CHL etc. In that case you would have no choice other than to refinance or to sell up if that wasn’t possible. Given the costs of refinancing and the likelihood of having to put money into the properties and suffer higher rates too it may well be in your interests to buy some insurance for you and your wife now. As I see it, you either pay the premiums or risk paying the price. I’d much rather pay an insurance company to carry those risks personally.
7:04 AM, 31st January 2013, About 10 years ago
I have found when accessing commercial loans the banks can insist on adequate life cover for the properties concerned regardless of age or marital status to ensure their financial input is covered.
8:09 AM, 31st January 2013, About 10 years ago
I do much like Mark does - Life Insurance written into trust so if me and the wife went together in a car crash my 3 kids have a big wedge from Day 1 to sort out their lives for the next 5 years or so irrespective of IHT and CGT issues. It gives them breathing space to decide what to do with the portfolio which may change according to their respective lifestyles over the months and years ahead. I probably need to enhance and upgrade that level of cover now but life insurance for me is the most quick and easy and most cost effective way of protecting for the immediate future what I have built up
0:54 AM, 1st February 2013, About 10 years ago
I believe it to be good idea to try and mitigate against such eventualities, however, it's a personal thing and the requirement will differ from individual individual - there is no harm in having an initial discussion with an adviser.
4:08 AM, 1st February 2013, About 10 years ago
hello interesting article. just been to chat with Nationwide re inheritance, life assurance,as have nram mortgagaes so your comments about them being called in on my death very relevant,
say 50%equity, 2 properties,1 res 1 btl,so likely have to think about £1m liability for iht.nw said say £200000 LI which at my age 70 next is £660 month.Its a lot, can I do better, any options? hope to hear from you, kind regards T
Mark Alexander - Founder of Property118
5:14 AM, 1st February 2013, About 10 years ago
Hi Tessa, did you complete the form in the article?
15:58 PM, 7th March 2013, About 10 years ago
Hi Mark, sorry lost the comment,needle in haystack, followed up form and very helpful lady etc still a lot to take on , another monthly dd like another mortgage, even lowest term ass. for 20 years etc £200 monthly for £100k. anything would help of course but think I have to look for options. thinking as I go, if I sell off one unencumbered flat to my son that would kill two birds with one stone, ie he would have the flat I wish to leave him, so that would reduce my estate as he can only pay say half value anyway and the money would go on refurbn bills , debts etc dont think there would be too much left after spend etc. the mortgage on the property then would leave 50% equity so covered by exemption IHT etc, so hope thats correct and so I other property to cover,again 50 % equity ,probably do same again if IHT for dec. husband not used ,have to check as not sure ,unless I demise into a garden flat and pass on to family asap hopefully survive the 7 years.had rotten contentious so no illusions,really do want to leave sorted.I thought to just sell up etc but family devastated if I did that, its lovely you are able to leave your family secure so nice you think of them not everyone does.Thats all I can think of for me I'd welcome your comments, such a great forum, even if I do have to make sure I'm sitting down before reading, never know whats going to jump out, like the BOI bomb.all the best T PS lost a comment,so can I ask would like to remortgage from NRAM residential but no salary now as expect rely on BTL income, any possibility for me at 70 to get a remort. only small pension so not high enough , can I change BTL income to salary somehow to enable me to remortgage, or other options?cheers T
22:26 PM, 7th March 2013, About 10 years ago
A financial advisor has been recommended through property 118, a company called H D Consultants based in Essex. I have made contact with one of the consultants and all seem above board. I would like to know if anyone has used this company in any capacity and would they be able to give a testimonial of reassurance?