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.
Mark Alexander - Founder of Property118
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Sign Up11:02 AM, 29th May 2013, About 12 years ago
Hi Sally
There is no right or wrong answer to this one, save to save that number of properties is vanity, profit is sanity and cashflow is reality.
Can you share a bit more about the types of properties you are looking to buy and the important numbers, i.e. value, rent, types of tenants etc. please?
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Sign Up11:10 AM, 29th May 2013, About 12 years ago
Hi Sally
If you do buy for cash you may well find it more difficult to be able to get a mortgage on the property within 6 months of purchase.
You will also have only a limited amount of lenders you can approach is you decide yo want 80% LTV whereas at 70% or 75% the choices are a lot greater and you will get far better rates and terms.
sally lloyd
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Sign Up12:50 PM, 29th May 2013, About 12 years ago
I like your quote
I really am a total newbie at this. I am not set on what type of property I buy, just ones that give me good returns, however I would prefer freehold but that is not set in stone. Really I want really run down places that will also make me a profit on sale as well as good rental income. My partner is in property maintenance and is willing to do up the properties, but what we need is a strategy.
the average cost of a 1 bedroom flat in hastings is about £50k and a 2 bedroom house £110 these are run down ones. I will have £75k from the btl mortgage on the flat and will get £90k from the sale of my shop. I have also had a value of our house at £150k which i bought for cash and renovated.
I just don't know what is the best way to make this money work for me as I will no longer be working so we have the time and the passion but not the strategy. i think I will be able to get a mortgage straight away as i waited for 6 months on my first flat to become an experienced landlord (LOL) and get a better rate.
shall i get a mortgage on my private residence too or is that madness
Mark Alexander - Founder of Property118
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Sign Up14:11 PM, 29th May 2013, About 12 years ago
Hi Sally
Anon has made some very good points in the comment above.
Personally, I prefer freeholds. As a matter of interest, how much rent would you get on a £110,000 property in your area?
Also, is £110,000 the completed value or the value post refurb? I suppose what I'm really asking is how much you will pay, how much you are likely to spend on refurb, the value post refurb and the rent post refurb.
If the property is not fit for human habitation on the day of purchase (e.g. no kitchen or bathroom) then you will need to buy for cash and remortgage later.
You mention giving up your job too. I don't think that's a brilliant idea at this stage if it can be avoided as it will be much harder for you to get a decent mortgage if you haven't got a job.
Peter Alcock
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Sign Up17:06 PM, 29th May 2013, About 12 years ago
Hi Sally,
Understand your predicament as a fellow property investor.
There is no single right answer to your question and fundamentally turns on:
1. Your attitude to risk and how highly geared (ratio of borrowing to equity) you want your portfolio to be.
2. Your view as to where interest rates are headed in the medium/long term and whether you can attract interest only repayment terms. I use a base rate of 0.5% with margins of 2-6% pa to stress test your analysis. Can you fix your rates?
3. Your property yields and whether the cover (ratio of rental income to mortgage repayments) work for your lenders and provides sufficient headroom. Banks normally look for a min 125%. I wouldnt normally consider gross yields of less than 6% pa.when analysing a BTL purchase and typically look at the sub-£100k provincial property market.
4. Likely void periods and the hole this could leave in your income whilst properties remained vacant - I always work on a 8% long term void rate as a minimum (ie 1 month per annum)
Some 'what if' scenario planning using simple spreadsheet formulations can help using different gearing and interest rate alternatives can help in the analysis.
Hope this offers some help
Vanessa Warwick
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Sign Up17:09 PM, 29th May 2013, About 12 years ago
Hi Sally,
Forgive me, but I am a bit confused by your post.
The title suggests that you want to build a portfolio of properties, but you later talk about buying rundown properties and doing them up to sell them!
The two are completely different strategies with very different tax implications.
As you are not working, you may also find it hard to raise a mortgage as most lenders require a minimum of £25K income.
I recently compiled my "Top 10 must read discussions for novice investors" ....
http://www.propertytribes.com/top-10-must-read-discussions-for-new-investors-t-7030.html
If you can find an hour to sit down and read through these discussions, you should find that most of your questions are answered. 🙂
sally lloyd
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Sign Up17:17 PM, 29th May 2013, About 12 years ago
Hi Andrew,
Yes i found anon's comment very useful as I didn't realise you get a better rate at 30% deposit , with that i could still put down the deposit for 2 freehold houses or put the whole money into a 1 bedroom flat and then remortgage.
Depending on the area refurbed 2 bedroom houses sell from between £140k and £160. We bought our house for £80k, spent £25k and have had it valued at £150k. it was completely inhabitable when we bought that is why i bought cash. we were told that we could get between £650 and £675 pcm. I could also get a mortgage on this house for £105K. the 2 bedroom flat we bought for £63K spent 12k and is valued at £110k that is the one we are getting the remortgage on.
I have sold my business so will technically be unemployed. I thought that it didn't matter as I had properties. maybe i need to go to Asda for a part time job 🙂 Thanks for that eye opener 🙂
Jonathan Clarke
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Sign Up18:52 PM, 29th May 2013, About 12 years ago
I would buy 2 run down properties at 80% LTV then add value to them then remortgage them when you can to release equity to put down as deposit to buy more. Also if you are not too risk adverse I would be taking out a mortgage on your main residential and utilising the dormant cash contained within to produce an income for you
As your partner is in property maintenance you could sell where you are buy somewhere bigger needing doing up and do that and sell and repeat as many times as you need to until you reach the financially free position you wish to attain.
Leverage to the max but ensure your cash flow is strong and keep a sufficient cash buffer so you can sleep well at night.
chris howells
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Sign Up21:24 PM, 29th May 2013, About 12 years ago
Sally, good luck but expect the unexpected in your plans, things are not completed on time, mortgages may be more difficult to come by, where are house prices going dont want to put you off i did the same approx12 years ago and learnt the hard way, load of voids people not paying rent etc.But id did pay off after a few years but I was very cautious bought 2 the first year, 2 more 2 years later then i cut my teeth on a big refub with planning etc, that was an experience and it taught me that you can do anything if you focus on it,I am happy with my existing portfolio but still get the urge to do "just one more".
Cash flow is king
Mark Alexander - Founder of Property118
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Sign Up9:15 AM, 30th May 2013, About 12 years ago
@Sally Lloyd - please take a look at the Property Refurbishment section > LINK http://www.property118.com/property-refurbishment/ and in particular the article entitled "Sell or hold after completing a property refurbishment?"
If you can keep doing deals like the one on your own home you will be very successful in time. Please remember though, property investment in a marathon not a sprint. As Donald Trump once said "don't wait to buy property, buy property and wait".
Based on what you have said I think you should be doing one deal at a time. You have said that your partner in in property maintenance and that's fantastic. He can only do one job at a time though unless he finds a way to clone himself.
You have good working capital and from what you have said I see no reason for you to consider remortgaging your own home at this stage. Just do two or three deals a year similar to the one you did when you purchased your own house and over the next 10 years you stand to make a LOT of money. It took me nearly 20 years before I could live entirely from my property income but I started in a very different place to you.