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 email@example.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?
- 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 firstname.lastname@example.org, 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
18:21 PM, 21st October 2014, About 9 years ago
West Brom . You have got it wrong and your day of reckoning is coming .
Who would want to be a saver with this company ?
19:05 PM, 21st October 2014, About 9 years ago
West Bromwich Mortgage Company charlatans are creating the next 'banking scandal'.
I wonder if they stuff their pillows with their bonus cash in order to sleep at night.
See you in Court
19:20 PM, 21st October 2014, About 9 years ago
if this is the way they operate then I wouldn't be surprised if there were a lot more skeletons in their cupboard....that we're just not aware of yet.
their savers should know how paper thin their accounts, bluster, promises etc are.
if only we had a forensic accountant to go through all their recent accounts. Perhaps enough to sink the BS....well, after they've paid us what is due.
19:35 PM, 21st October 2014, About 9 years ago
The apparent profit was achieved after a favourable £5.1million increase in their valuation of investment property and by £4.7million in additional interest taken from the arbitary increase in the rate applied to some tracker rate mortgages.
Whilst the outcome of the pending legal case cannot be known, a more true reading of ongoing trading performance for 2013/14 would be a LOSS of £7.7million.
This, 3 years into a recovery and when house prices seem to be topping out.
Astonishingly, the West Brom say that they have made no provisions regarding the legal case against them. This despite them having booked over £10million to date and incurred hundreds of thousands in legal fees.
They suggest that "all cases where the Company has been informed by FOS that there has been an adjudication, have been determined in favour of the Company" but is this true? Is not the case that the FoS have simply washed their hands of the cases citing that they are not consumer related.
If you are a member of the West Bromwich Building society you should be aware of the huge risks WBBS are running. They are presenting a turnaround picture but the reality is a company still making trading losses at this point in the economic cycle and misrepresenting the risks the business faces through their deeply flawed strategy - whether or not the case is in their favour the terms they are applying/changing are both selective and arbitary.
If you want to read more, check out their report under the "Your Society" heading on their site.
23:54 PM, 21st October 2014, About 9 years ago
Both the Chairman and the Chief Executive attribute this turnaround (from at least 5 years of losses to a tiny profit this year) to their 2009 implementation of their Back to Basics strategy dating from 2009. Really however, it is the result of their implementing a much older strategy, the one used by Dick Turpin.
At the foot of note 27 on page 72 of the latest accounts is the following statement: “Certain external parties have initiated legal proceedings against West Bromwich Mortgage Company Limited (the Company) in relation to an interest rate increase on the non-consumer buy to let portfolio. The rate uplift contributed £4.7m to Group interest receivable for the year ended 31 March 2014. As the Company believes that it has a robust defence to such claims, no provision has been recognised in these financial statements. In respect of those cases which have been referred to the Financial Ombudsman Service (FOS) by individuals, all cases where the Company has been informed by FOS that there has been an, have been determined in favour of the Company.”
The last sentence may have been enough to satisfy the auditors, KPMG, as they have not insisted that a provision be made for this £4.7 million extra income for the last four months of the financial year. If they had insisted, the year’s result would have been a loss.
Making such a provision would of course have defeated the object of changing our tracker rates, which was allow WB to report a profit.
KPMG were probably not to know that the various FOS adjudicators (i.e. not even at ombudsmen level) completely ignored what we told them about the breach of contract, and sent all of us the same standard letter which contained only WB’s baseless “case”.
£4.7 million is a relatively small amount, yet it has the enormous significance of turning loss into profit. I would have thought it prudent to await the outcome of the court case before treating it as earned income.
0:01 AM, 22nd October 2014, About 9 years ago
The word missing from the last line of note 27 is "adjudication".
0:37 AM, 22nd October 2014, About 9 years ago
Reply to the comment left by "Mark Hartell" at "21/10/2014 - 19:35":
If we remove the increase in valuation of Investment Properties of £5.1 million to find the trading result, we should also add back the provision of £10.9 million that was made for “impairment on loans and advances”, i.e. a downward valuation, in the Commercial segment.
It is the Commercial segment that is WB’s real problem. It made a loss of £10.5 million in the year to March 2014, to add to the £92 million it lost in the 5 previous years.
This brought the Commercial segment’s negative equity to £69 million.
Commercial lending is defined in the Glossary at the end of the annual accounts as: “Loans secured on commercial assets. Commercial assets can include office buildings, industrial property, hotels, medical centres, shopping centres, farm land, buy to let and housing association properties.”
Our BTL loans are not part of the Commercial segment, they are regarded by WB as residential lending, and are part of its Retail segment. However, WB is trying to make us pay for the Commercial segment’s losses.
8:49 AM, 22nd October 2014, About 9 years ago
So if the building society lose the Court case could they go bust? If they do, presumably the FSCS would bail out savers up to £85,000 but how exactly would this work? Would it happen quickly or would there be a long period of time where savers had no access to their money?
Presumably the mortgages would just be sold on to the highest bidder?
Or would the building society be forced to merge with another more financially stable building society?
9:23 AM, 22nd October 2014, About 9 years ago
This really does sound like they are "clutching at straws" in order to avoid being broken up as they were threatened with being in 2009.
Maybe they were informed that unless they showed a profit within 5 years they would face unknown action hence the lack of provision for the potential losses in the court action???
However, this does not seem to be the case if they haven't stopped with the new HQ....
10:21 AM, 22nd October 2014, About 9 years ago
I wonder what independent information the Auditors looked at to be able issue and unqualified Audit Report or did they just take the Directors word for it that they would win the case? They have also reviewed the 12 month statement which shows they are a viable business for the future 12 months. Again have they seen independent evidence of this or are they taking the directors at their word? I wonder what the ICAEW will think of their report if West Brom lose in Court. I hope for their sake their files are well documented otherwise they may need to be informing their PII