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.
Anne Noon
11:23 AM, 14th April 2017, About 7 years ago
Dear Tom,
I understand fully where you are coming from as I am the same age. A few years ago, with the prospect of interest rates rising, I aimed to sell off my portfolio by the time I was 65, pay my CGT and invest the balance remaining, which would, at 3- 5% return on my investments, give me an excellent income for the rest of my life. Now if I did this, I would have to draw down my capital from Day 1, to enjoy my modest lifestyle. With Section 24 Rules coming in , I have spent the past 6 months angsting on what is the best thing to do for my situation, and had to consider all the issues you have had to do. I think that the people who are having most problems with the Section 24 are those who have a well-paid job to start off with, but my rental portfolio is my only income.
Four years ago , my Financial advisor was suggesting I sell my least profitable house and he could get me an11% return. On my last review with him, he didn't even suggest me doing so - as I would have to have a 4 million pound pension pot to give me the same income as I am getting - and congratulated me on my 40 year strategy to provide for my retirement. So I will share with you a few strategies I have considered and maybe that will help.
1) I am not sure about incorporation as my understanding is that you will have to pay CGT on the market value on the day of the transfer to the Limited Company. You would also have to pay 6% Stamp Duty as I am not sure that the common person between the two entities, where you only pay stamp duty on the extra over and above what the input cost of the original cost of the properties is still available. Also the Arrangement fees and interest rates are higher for Ltd Companies.
2)You may be on a very low rate for your existing loans - one of mine ( for a limited company) is 0.75% above base for the term - 12 years of which is remaining. So I am hanging on to that one and not remortgaging.
3) You may consider remortgaging one or two of your properties to release capital for you to enable you to enjoy your lifestyle. If you are a 20% tax payer, then this will not take you into the 40% tax bracket. You will have to pay an arrangement fee, but if it's on a five-year fix, then these will not be too onerous - pay the arrangement fee up front and you can put it against tax in the first year. Obviously, you will have to consider, as I recently did, whether the loss of a lower rate for the term can be balanced against the increased cost of the mortgage (again if you can keep in the 20% range, then this should not impact on your tax payments.)
4) If you do decide to sell everything, give notice to your tenants, and pay your tax, then you would have to support the mortgage whilst the sale goes through - in some areas this may take years , so a phased sale of your properties would be more appropriate. I have already done this with two properties and regretted it, due to the tax I had to pay, which didn't release as much money as I wanted two . (One of those would now be grossing me £30000 plus per year and worth £150000 more, so I could have remortgaged it to reflect the increased value, the other, the rent went up by 50% during the course of the sale and the vale up by 10%, so I could have released £50,000 by a further Advance)
5) If you are in the lucky position of having sold your properties, you are then in the position of having to invest the money across several business entities to protect your cash. These accounts have to be managed and monitored. Some of the investment funds you may want to put it into will invest in the Corporate housing schemes so favoured by our Masters, and you will not get the same return as if you managed it yourself.
6) If you are so fed up with managing your properties yourself (and its a real pain, it drives me mad at times) , you can put it in with a letting agent, and forgo some of your profit - the fees are a cost against the rent), you also have to trust the agent that they do not overcharge you for their services and that any repairs are reasonable. I realise I will have to carry on for a few years yet, but know that option is possible.
7) So in consideration of all these points, I have applied one or two of them to my (small) portfolio and decided that If I did want to do some great adventure travelling around the world I would rent my house out and put my portfolio into the hands of agents - my one in St Albans is brilliant, but not so sure about other areas, and then take over the management when I return.
I hope that you will find this helpful
Kind regards
Anne
Mark Alexander - Founder of Property118
11:24 AM, 14th April 2017, About 7 years ago
Reply to the comment left by "dp1 Django" at "14/04/2017 - 11:19":
That's going to be an incredibly interesting trip.
The event was sold out within a matter of days but last I heard Ranjan was hoping to get a bigger room to expand from 230 seats to 350. Apperantly there are hundreds of people still wanting tickets.
I'm flying in from Malta that day and back to Malta first thing the next day with Mark Smith for a big client meeting.
This time last year my plan was to take life easier. i handed over control of Property118 to Neil Patterson but since then I couldn't have been busier helping landlords to restructure. I'm loving it 🙂
.
Mark Alexander - Founder of Property118
11:30 AM, 14th April 2017, About 7 years ago
Reply to the comment left by "Anne Noon" at "14/04/2017 - 11:22":
Hi Anne
Please read our Landlord Tax Tutorials, which are available as free PDF downloads, to lean about the reliefs which exist in legislation to enable landlords to incorporate without incurring CGT and Stamp Duty.
See https://www.property118.com/Tax118
I am also considering the selling copies of the Powerpoint presentation that Mark Smith and I will be delivering at the Baker Street Property Meet on 26th April. Watch this space in early May.
.
Anne Noon
11:32 AM, 14th April 2017, About 7 years ago
Reply to the comment left by "Mark Alexander" at "14/04/2017 - 11:30":
Thanks Mark , I will do so.
Anne
JohnCaversham
12:08 PM, 14th April 2017, About 7 years ago
Reply to the comment left by "Mark Alexander" at "14/04/2017 - 11:30":
Hi Mark, yes please do consider putting the presentation up for sale-i can't make the London date assuming i could get a ticket anyway, but i would be happy to buy a copy..
Many thanks John M.
Howard Reuben Cert CII (MP) CeRER
13:26 PM, 14th April 2017, About 7 years ago
What interesting times we live in and it's absolutely horses for courses.
As a specialist BTL Broker with 3,500 Clients and hundreds of millions of pounds of mortgages arranged over the years, I can tell you that me and my Team are as busy as ever helping landlords who are on the hunt to buy more and more properties. Not all in a Ltd Company structure either.
Our remortgage business has gone through the roof (BTL rates now less than 2% on certain deals) as investors try to compensate for some of the extra tax burden by reducing their underlying costs.
Many people are fed up of BTL and are indeed selling up, but many others tell me they still very much enjoy it and continue to build their portfolios and businesses.
Mortgage borrowing will become even harder for people who own 4 or more properties from September/October onwards as the latest PRA portfolio underwriting rules kick in, but we know the lenders who a) will still stick to their own (more flexible) guidelines and b) who are not governed or regulated by the PRA and who are very much property investor focused lenders here in the UK.
In short, as long as the right 'adviser team' is consulted (tax adviser, business planner, legal consultant, mortgage broker), property investment can still be very much an enjoyable and long term profitable venture.
The need for homes isn't going away, why should we as landlords go away?
Mark Alexander - Founder of Property118
14:02 PM, 14th April 2017, About 7 years ago
Reply to the comment left by "Howard Reuben" at "14/04/2017 - 13:26":
You and Dianne have a large property portfolio Howard. May I ask what provisions you've made to mitigate the effects of s24 or are you waiting for the Baker Street Property Meet before you commit?
.
H B
14:22 PM, 14th April 2017, About 7 years ago
Reply to the comment left by "Mark Alexander" at "14/04/2017 - 11:30":
Why not sell it as an ebook in Amazon as well? That will give you access to a much larger market.
Mark Alexander - Founder of Property118
14:24 PM, 14th April 2017, About 7 years ago
Reply to the comment left by "H B" at "14/04/2017 - 14:22":
I wouldn't know how. Do you have a link I could read to get me started?
.
Jonathan Clarke
3:35 AM, 15th April 2017, About 7 years ago
Tom
You ask
``Would I kick myself if property prices greatly increased after I sold up?``
That answer would be surely yes. Imagine having to drive by one of your sold up properties in 2032 and seeing it on the market maybe 100% more than you sold it for today . It would be a cruel slow torture for you . That`s my money you would say to yourself - why on earth did I sell. . I worked so hard to buy it and nurture it but one day I just threw it away on a whim. I`m so mad with myself
And the reason boils down to the fact that you probably were just tired in 2017 and some young budding investor who wasn`t tired bought it
The hard work has been done though. You`ve built a portfolio - Dont sell it
Just deal with the tiredness issue
If you were 23 / 33/ 43 / 53 you wouldn`t be thinking like you are
If you believe as I do that in 15 - 20 years prices will be double what they are today then whatever this government has thrown at us it will be the case with capital growth that your wealth will still double. And capital growth is truly passive. You don`t have to lift a finger to get it
What is hard work is the day to day management. So lets deal with that. Get shot of that mental burden. The energy levels at 63 are simply not the same as at 23. The mind is still active but the body slows so you want a rest and you deserve one
I can quite happily survive on 20% less income than I currently earn now through my own portfolio. I largely self manage but when the time comes I will hand over to a letting agent or more likely a personal property manager and lose 10% of my income. The other 10% lost will be because ( in my arrogant mind ) they wont do it as well as me. I will get overcharged on maintenance and the voids will be longer and they wont chase some rents like i do .
But that`s ok. I dont want to spend my days stressing about their poor management. I just want to accept it will happen and factor it in then I wont be disappointed . so I will treat that extra 10% as a sunk cost. If they surprise me and dont mess up then that will be my bonus - but i wont expect a bonus
I will compartmentalise 20% loss of my income as the price for my freedom
Happiness is a clear horizon.
Prices I believe will double in 15 - 20 years
So in broad crude terms
Say your portfolio in 2017 is a million and your income is 100K......
Then imagine 2032 with a two million portfolio and an income of 80K - and no stress
Just work around your current dilemma - but dont sell.
.