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.
Aggla Moore
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Sign Up2:01 AM, 3rd April 2016, About 9 years ago
I posed a question last year but to this day it remains unanswered.
I'd appreciate if somedody could chime in and clarify.
So, here I ask again... do the new restrictions on interest mortgage relief capped at the basic tax rate apply to residential property purchases made outside the UK?
Have landlords been castrated just in the UK or is it on a global scale?
Markb
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Sign Up2:52 AM, 3rd April 2016, About 9 years ago
Reply to the comment left by "Aggla Moore" at "03/04/2016 - 02:01":
I don't know for sure but if you claim finance costs for residential property on your tax return I would assume you are affected too. By affected I mean screwed!
I can however say with a very high degree of certainty that if your name is Osborne and you have a wall paper business and you get a mate to create an off shore company and buy a price of land from you and develop it and make a huge profit and then dissolve the company - as far as tax is concerned - you are golden - have no worries!
So Aggla here is a site you may find of interest
http://www.deedpoll.org.uk/Overseas.html
You may have more in common than you know....George used it to become George from Gidiot.
Dr Rosalind Beck
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Sign Up9:24 AM, 3rd April 2016, About 9 years ago
Reply to the comment left by "Aggla Moore" at "03/04/2016 - 02:01":
This is an interesting question, Aggia. For example, if someone here with a UK BTL portfolio used equity from that portfolio to buy a property abroad (which loads of people must have done), then there could be a portion of the finance costs which although raised on property here, were used to buy property eg in France. I've got a feeling though that in that scenario it wouldn't matter what the money was used for but only that it was raised on the UK property.
I assume there are also UK mortgage lenders who will lend on foreign purchases and it might be different in that scenario. You might raise your finance here but get your rents and pay tax in another country. Hopefully someone here can clarify for you. I might have confused it even more!
Appalled Landlord
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Sign Up19:26 PM, 3rd April 2016, About 9 years ago
Reply to the comment left by "Aggla Moore" at "03/04/2016 - 02:01":
Hi Aggla
The taxation of income from foreign property is described in: https://www.gov.uk/tax-foreign-income/paying-tax as follows: “You pay tax in the normal way on overseas property”. If you click through you will see that the normal way means how it is taxed in England and Wales.
In my opinion it would be strange if Osborne exempted foreign property from section/clause 24.
There is no mention of country in either the Finance (No. 2) Act 2015: http://www.legislation.gov.uk/ukpga/2015/33/section/24
or in its Explanatory Notes on section/clause 24 (from page 54 on): https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/445521/EN_FB_2015.pdf
However, the policy paper issued by HMRC on budget day last July began:
“Who is likely to be affected
Individuals that receive rental income on residential property in the UK or elsewhere and incur finance costs (such as mortgage interest), excluding where the property meets all the criteria to be a furnished holiday letting.”
https://www.gov.uk/government/publications/restricting-finance-cost-relief-for-individual-landlords/restricting-finance-cost-relief-for-individual-landlords
If you need confirmation I suggest you contact Megan Shaw, Product Owner – Property Income & REITs, HMRC. Her contact details are shown at the end of the above webpage, under Further advice.
Note the exception concerning property that “meets all the criteria to be a furnished holiday letting.”
Since April 2011 this has included furnished holiday letting (FHL) property in the European Economic Area (EEA) – but only because of an EU ruling. “The trouble began when the European Union ruled that the British government was wrong to restrict tax reliefs to holiday homes within the United Kingdom, rather than anywhere in the EU.” http://www.telegraph.co.uk/finance/property/international/9870349/Tax-change-hits-holiday-homeowners.html
The EEA includes Iceland, Liechtenstein and Norway: https://www.gov.uk/government/publications/furnished-holiday-lettings-hs253-self-assessment-helpsheet/hs253-furnished-holiday-lettings-2015
This help sheet also gives the specific conditions for qualifying as an FHL.
If the UK leaves the EU, I think it is possible that the treatment of foreign FHL income may be changed back to what it was before April 2011, whether or not the UK stays in the EEA. If so, foreign FHL property would be treated the same as non-FHL property, and relief on the finance costs would be restricted to the basic rate.
Appalled Landlord
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Sign Up19:51 PM, 3rd April 2016, About 9 years ago
Reply to the comment left by "Ros ." at "03/04/2016 - 09:24":
Hi Ros
“It wouldn’t matter what the money was used for” only applies to the amount of a re-mortgage that takes the loan up to the original purchase price plus any capital expenditure on it.
http://www.property118.com/can-i-claim-tax-relief-on-remortgage-interest/61467/
The interest on any borrowing above this amount is also deductible if it is used in the BTL business, but not if it is used to buy a holiday home, either in the UK or abroad. What matters is what the money is used for, not the property the loan is secured on.
Simon Hall
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Sign Up19:51 PM, 3rd April 2016, About 9 years ago
Reply to the comment left by "Appalled Landlord" at "03/04/2016 - 19:26":
AL, If UK Brexit Europe, what's your opinion in regards to current case against treasury mounted by Steve Bolton and Chris Cooper, would this still stand?
Alison King
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Sign Up23:30 PM, 3rd April 2016, About 9 years ago
Reply to the comment left by "Appalled Landlord" at "03/04/2016 - 19:51":
Re: "the amount of a re-mortgage that takes the loan up to the original purchase price plus any capital expenditure on it".
I've been trying to look into this recently and I had understood that the capital expenditure could not be included unless there was evidence that the property had been revalued by an estate agent prior to first let. Is this a grey area or can the capital expenditure definitely be included? Have other people done this?
Aggla Moore
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Sign Up3:33 AM, 4th April 2016, About 9 years ago
Thanks guys and particularly much appreciated the comprehensive reply by Appalled Landlord.
It’s actually pretty clear indeed… can’t argue with the below:
“Who is likely to be affected: Individuals that receive rental income on residential property in the UK or elsewhere and incur finance costs”
“You pay tax in the normal way on overseas property”
This is just plain crazy.
I know a lot of people that have invested in their names (not through companies) in properties overseas in Italy, France, USA, Dubai, etc… they are now all screwed by the “vomited” Clause24 policy.
For example, I know personally an Italian couple, they have been resident in London for more than two decades. They run a small successful restaurant and have built a small UK portfolio of rentals too. A few years ago, through a relative that works in property development in Michigan, they found four bargain houses in the Detroit Michigan area.
If anyone is aware how the property market has been doing in that area in Michigan, then I’m not sure how one can reconcile the “level-playing-field” Clause24 policy bollocks in an area in which they have the OPPOSITE problem of London and the South East. They just don’t have a structural demand-supply imbalance.
The more one digs deeper the more it is evident that the incompetent government drew a policy that just makes no sense whatsoever!
Conversely, what about the “accidental” international Landlord? A professional foreigner from say... Paris, Munich, or Milan has a mortgaged house in his country. He/she gets a job in London and rents out the place back home before moving to London. He/she is now resident in the UK for tax purposes and must declare his foreign rental income but can no longer fully deduct all mortgage interest costs…
Why would a professional from Australia, USA, Germany move to the UK to work if he had to pay taxes on a rental income that has never been generated back in his home country?
Ditto. It's just plain crazy...
Disallowing the full deduction of mortgage interest costs must be the most anti-capitalistic and more fascist policy I’ve ever seen in my whole life….
Tatton Landlord
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Sign Up8:57 AM, 4th April 2016, About 9 years ago
Sharing below my email sent to David Cameron earlier today - perhaps bombarding his Inbox with similar may start to get the message across?
"Dear Mr Cameron
I write to implore you to remove George Osborne from the post of Chancellor of the Exchequer.
The latest debacle and u-turn over cuts to disability benefits is just the latest in a long line of his disastrous budget proposals, from the controversial "pasty tax" in 2012, through the aborted reduction in working tax credits in 2015.
Osborne's propensity to grab at revenue-raising or cost-reduction ideas without proper consultation or assessment of the consequences would make him a national laughing stock if the implications of his incompetence weren't so serious.
One such fiscal policy change is the Clause 24 attack on buy-to-let landlords announced in his Summer Budget 2015. This is a ticking time bomb set to turn the current housing crisis into a national disaster with the poorest tenants made homeless as landlords are forced to sell, and the least well-off landlords encumbered with fixed-term mortgages having to pay tax on money which they simply don't have, it having already been paid to their lender as interest. This will, incredibly, be the only example in the western world of an infinite rate of tax and, more incredibly, it has been introduced by a British Conservative government. It will lead to massive pressure on local authorities to house the newly homeless, landlords made bankrupt by HMRC and a crash in house prices in many parts of the UK, many of which have not yet seen prices fully recover from the 2008 crash.
I should mention here that my husband and I are professional, university graduates in our fifties. We are both lifelong supporters of the Conservative Party and live in the Tatton constituency, we therefore - much to our horror now - voted for George Osborne in the last four general elections. We have a small number of modest but comfortable buy-to-let houses, which we have refurbished and now manage ourselves, with happy long-term tenants. We could never have expected that our decision to plan for our retirement and the future financial security of our children by buying properties would lead to us become the target of an ill thought-out tax raising attack from our own MP.
Surely you will be aware of the long list of voices raised to oppose this tax? This includes: the Treasury Select Committee; the Institute of Fiscal Studies; the Council of Mortgage Lenders; the Institute of Chartered Accountants; the London School of Economics; The Telegraph; Lord Flight; Professor Michael Ball - it is inconceivable that they are all wrong and George Osborne, David Gauke and a group of Treasury officials are right.
Clause 24 was George Osborne's ill-conceived knee-jerk response to Mark Carney's warning of the risks to the economy of uncontrolled buy-to-let lending. Now that we have tighter lending criteria and the 3% SDLT levy this is more than sufficient to dampen demand for future BTL borrowing.
It is therefore time to ditch Clause 24, which penalises hard working responsible citizens for past investment decisions. More importantly it is time to ditch George Osborne for making such a complete hash of his job ever since he naively interpreted the unexpected Tory majority as giving him carte blanche to ride roughshod over people's lives and finances.
One wonders who George Osborne thought he was sneering at when he referred to "landlords" during last year's Autumn Statement speech - if only he had realised it included a huge number of former Tory supporters who will now never again vote for the Conservative Party.
What a fool - it's time for him to go.
NW Landlord
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Sign Up9:16 AM, 4th April 2016, About 9 years ago
Hi
Can somebody post his email and I will mail him