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:
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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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_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.
Mark Alexander - Founder of Property118
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Sign Up21:37 PM, 26th July 2013, About 11 years ago
Hi Mike
Thanks for writing in now but why on earth didn't you do so when you were in your hour of need?
I could have helped.
There are quite a few buy to let lenders out there offering new loans to applicants in there 70's.
The ageism thing is a bit of an urban legend spread by hopeless brokers and landlords who get rejected by a handful of their existing contacts.
My business partner, Neil Patterson wrote a blog about this just about a year ago. It was a follow up to a series of articles I wrote about exit strategies after which I was bombarded with questions about mortgages for over 70's. Please take a look at this link >>> http://www.property118.com/ageism-in-buytolet-mortgages/30658/
.
Mike Jones
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Sign Up9:43 AM, 28th July 2013, About 11 years ago
Thanks for that Mark
I re-mortgaged in May this year
I didn’t see Neil Patterson’s piece but it makes no difference because it was published a year ago at around the same time that I began looking around – At that time I identified all the names put forward by Neil (and in fact a few others) – but if you care to re-check I think you will find that unless there has been recent changes of heart Woolich, Ipswich, and Monmouthshire all changed their criteria shortly afterwards – TMW wouldn’t do a purpose built block of three flats on one freehold and Aldermore is in the same category as my new lender Shawbrook (commercial / unregulated and expensive).
The purpose of writing was not to seek help for my individual needs (I’m already set up with this one now) but to raise the issue of ageism particularly in respect of those lenders who are breaking the law and discriminating in this way – they are the bogymen; and Neil Patterson’s reasoning is bang on target – there is no more risk (probably much less) in take on a experienced 70 plus BTL lender with a quality property than a new inexperienced entrant (of which judging by your forums there are many), or indeed the low quality properties to which many Landlords are much more attracted for the potential higher returns (as witnessed on TV just recently).
Howard Reuben Cert CII (MP) CeRER
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Sign Up8:35 AM, 29th July 2013, About 11 years ago
Hi Mike
Knowing Shawbrook as well as I do (we are an approved Broker Partner), I know they are an excellent lender and have a fantastic range of options where ‘typical’ BTL lenders sometimes don’t venture. I also know Aldermore extremely well too (http://www.property118.com/brokers-review-of-aldermore-banks-buy-to-let-mortgage/36124/), and they do indeed brilliantly assist Clients who have now reached 3 score years and ten. And I totally concur that these two Firms have similar rates – if you need to go to them and compare against them.
However, as a professional whole of market BTL mortgage adviser I can also provide insight into many other ‘traditional’ BTL lenders who offer typical ‘high street’ deals for mortgages for the ‘over 70’s’ as well.
For example, here is a generic list of results based on a hypothetical case scenario;
Property value £200,000
BTL mortgage £100,000
Interest only
Example Client current age 72
2 year special offer deal
Maximum lenders arrangement fee £1,000
Maximum interest rate 4%
Table below is the ‘top ten’ deals sorted in ‘total to pay’ (TTP) order
Type Initial Rate Initial Pay Period Lenders Arrangement Fee TTP LTV
D 3.49 291.70 2 Years 299.00 7,001 75
D 3.29 276.36 2 Years 999.00 7,232 70
F 3.39 285.31 31/10/15 995.00 7,342 60
F 3.40 285.60 30/09/15 999.00 7,453 70
F 3.40 285.60 31/10/15 999.00 7,453 70
D 3.65 306.60 2 Years 999.00 7,801 70
L 3.85 320.83 2 Years 0.00 7,925 65
F 3.59 301.56 31/08/15 999.00 7,954 60
F 3.74 311.67 31/10/15 0.00 7,975 60
L 3.95 329.17 2 Years 0.00 8,125 65
The table includes 5 different lenders, all of which most BTL lenders would have heard of, including regional building societies, too.
From no.1 above to no.10 there is only an interest rate differential of just 0.46%, but even that makes a difference in underlying cost of over £1,000 for the same level of borrowing over the same term. Consider if you are paying well over 4.5%pa and so you see how the ‘wrong choice’ can be far more costly than it needs to be.
And likewise, using the “hopeless brokers” as Mark refers to them above, can also be an expense you don’t need to lay out either. Why go to an ‘expensive’ lender when a (true) whole of market Broker can source deals such as those above?
The moral of my reply here for all readers who are concerned about their BTL mortgages ending soon and need them to be extended into their 70’s, 80’s or beyond, is to always shop around using a professional ‘face to face’ Broker who can get to know you and understand your needs and requirements and who can source the full range of direct, as well as Broker only, BTL mortgage deals …. whatever your age.
Howard Reuben Cert CII (MP) CeRER
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Sign Up8:36 AM, 29th July 2013, About 11 years ago
Hi Mike
Knowing Shawbrook as well as I do (we are an approved Broker Partner), I know they are an excellent lender and have a fantastic range of options where ‘typical’ BTL lenders sometimes don’t venture. I also know Aldermore extremely well too (http://www.property118.com/brokers-review-of-aldermore-banks-buy-to-let-mortgage/36124/), and they do indeed brilliantly assist Clients who have now reached 3 score years and ten. And I totally concur that these two Firms have similar rates – if you need to go to them and compare against them.
However, as a professional whole of market BTL mortgage adviser I can also provide insight into many other ‘traditional’ BTL lenders who offer typical ‘high street’ deals for mortgages for the ‘over 70’s’ as well.
For example, here is a generic list of results based on a hypothetical case scenario;
Property value £200,000
BTL mortgage £100,000
Interest only
Example Client current age 72
2 year special offer deal
Maximum lenders arrangement fee £1,000
Maximum interest rate 4%
Table below is the ‘top ten’ deals sorted in ‘total to pay’ order
Type Initial Rate Initial Pay Period Lenders Arrangement Fee Total to Pay LTV
D 3.49 291.70 2 Years 299.00 7,001 75
D 3.29 276.36 2 Years 999.00 7,232 70
F 3.39 285.31 31/10/15 995.00 7,342 60
F 3.40 285.60 30/09/15 999.00 7,453 70
F 3.40 285.60 31/10/15 999.00 7,453 70
D 3.65 306.60 2 Years 999.00 7,801 70
L 3.85 320.83 2 Years 0.00 7,925 65
F 3.59 301.56 31/08/15 999.00 7,954 60
F 3.74 311.67 31/10/15 0.00 7,975 60
L 3.95 329.17 2 Years 0.00 8,125 65
The table includes 5 different lenders, all of which most BTL lenders would have heard of, including regional building societies, too.
From no.1 above to no.10 there is only an interest rate differential of just 0.46%, but even that makes a difference in underlying cost of over £1,000 for the same level of borrowing over the same term. Consider if you are paying well over 4.5%pa and so you see how the ‘wrong choice’ can be far more costly than it needs to be.
And likewise, using the “hopeless brokers” as Mark refers to them above, can also be an expense you don’t need to lay out either. Why go to an ‘expensive’ lender when a (true) whole of market Broker can source deals such as those above?
The moral of my reply here for all readers who are concerned about their BTL mortgages ending soon and need them to be extended into their 70’s, 80’s or beyond, is to always shop around using a professional ‘face to face’ Broker who can get to know you and understand your needs and requirements and who can source the full range of direct, as well as Broker only, BTL mortgage deals …. whatever your age.
Howard Reuben Cert CII (MP) CeRER
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Sign Up8:39 AM, 29th July 2013, About 11 years ago
Reply to the comment left by "Howard Reuben" at "29/07/2013 - 08:36":
typo "all of which most BTL lenders would have heard of" should read "all of which most BTL borrowers would have heard of"
apologies
(ps is there an edit facility available for spelling / typo / amendments where necessary?)
🙂
Mike Jones
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Sign Up12:41 PM, 29th July 2013, About 11 years ago
Reply to the comment left by "Howard Reuben" at "29/07/2013 - 08:39":
Hi Howard
With respect you and Mark both seem to be still missing the point
First of all I make it clear that I wasn't knocking Shawbrook or Aldermore for that matter
The point is that Age Discrimination is illegal - (I didn't need to check this out the person at the Council of Mortgage Lenders told me so when I called to ask why?) - this Illegal Activity is denying me (and others like me) access to (to coin your term) 'Whole of Market' and the industry generally seems quite content to go along with it.
Cheers
Mike Jones
Mark Alexander - Founder of Property118
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Sign Up12:49 PM, 29th July 2013, About 11 years ago
Reply to the comment left by "Mike Jones" at "29/07/2013 - 12:41":
It's an interesting point Mike, I had not looked at it that way. Age discrimination ranks equally now with race, religious and sex discrimination I believe?
It would be interesting to get a lawyers perspective on this point.
Howard Reuben Cert CII (MP) CeRER
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Sign Up13:02 PM, 29th July 2013, About 11 years ago
Hi Mike
I'm a man of many words (when only one or two will do, quite often!) so maybe my reply to your query got lost in the war and peace above 🙂
My endeavour to answer your age discrimination point is to say that actually many lenders do NOT have an upper age limit, hence my statement "....... and who can source the full range of direct, as well as Broker only, BTL mortgage deals …. whatever your age."
Hope that clarifies that (in my own way) I did take your point fully on board and that to add to your point (wearing my mortgage brokers hat and to give 'light at the end of the tunnel for many BTL'ers in this forum) that there are solutions too - albeit that I do concur with you that 'generally' the industry is content to go along with it .... but there are exceptions that are available.
Mark Alexander - Founder of Property118
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Sign Up13:34 PM, 29th July 2013, About 11 years ago
I have posted questions in various legal forums on LinkedIn to ask lawyers and barristers to comment on the point of age discrimination.
I totally understand where Howard is coming from but Mike's point is that lenders which are discriminating based on age are breaking the law.
I'm not qualified to advise on Mike's point, although I do see very clearly where he's coming from now. It may well be that lenders think they have a basis to preclude lending to borrowers over the age of 70. However, what the difference in offering a 20 year term to a 65 year old and a 10 year term to a 75 year old?
If lenders are hoping to demonstrate that lending to people over the age of 70 is riskier, what's the difference between that and them saying that lending to people of a certain race, creed, colour, religion, gender or sexual persuasion is riskier and basing their lending criteria on that?
Risky business hey?
I'm interested in what the answer might be!
I wonder if people over 70 have a claim against the lenders who decline their buy to let mortgage applications on the basis of age alone?
If so, I can see that the ambulance chasers could have a field day!
In the meantime, might it not be a solution for some over 70's to transfer ownership to a younger spouse?
.
Neil Patterson
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Sign Up15:11 PM, 29th July 2013, About 11 years ago
If the CML did decide that Criteria based on age was Illegal and enforced Lenders to withdraw a specific maximum age being cynical I bet I know what the Lenders would do to get round it.
They would use the credit scoring system. No one is allowed to see how it works on a points basis so it can't be manipulated on an application.
EG you have to fill in date of birth on an application.
If your age is say 50 you get 100 points and aged 70 or above 1 point.
Hence you get declined for failing credit score without the real reason being disclosed.
If the CML fail to act on an open Criteria it would take them even longer to eradicate dubious credit scoring!
I am not condoning this, but as the Bank of England and the Government have failed so far to make Banks Lend more for the good of the economy I can't see Banks rolling over on this very quickly.