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 Up11:54 AM, 4th April 2016, About 9 years ago
Reply to the comment left by "michael fickling" at "04/04/2016 - 11:37":
Excellent, well considered comment. Thanks for sharing your thoughts ?
.
Mandy Thomson
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Sign Up12:39 PM, 4th April 2016, About 9 years ago
In the mid to long term, I see our housing tenure landscape looking more like Germany, where more people rent but they rent from large conglomerates, not small private landlords.
It is obvious that national and central governments have started moving towards that aim, with many new housing developments and "affordable" housing schemes, built by large private companies, local authorities and housing associations.
However, George Osborne has, to put it mildly, taken us all by surprise by trying to force these changes upon us in the here and now, in a very unpleasant and punitive way.
Will all these brand spanking new housing developments go up quickly enough to cover the shortage of housing caused by Clause 24? I doubt it. Even where the new developments are complete, these will be more expensive than older housing, and many tenants will be unable to afford the rents. Even if they can afford the rent, why pay more rent than they need to?
Don't forget, the vast majority of landlords WON'T be affected by clause 24, so only a relatively small proportion of BTL properties will be taken off the rental market.
Mike W
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Sign Up15:51 PM, 4th April 2016, About 9 years ago
Just a thought. Why has the UK housing market not been affected by 'the crash' like Spain and Ireland? Will the BoE and tax changes make any difference?
Mandy Thomson
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Sign Up16:42 PM, 4th April 2016, About 9 years ago
Reply to the comment left by "Mike W" at "04/04/2016 - 15:51":
I believe most vendors learned their lesson from the last time the property market crashed in the 1990s - values dropped and many people either lost money or ended up in negative equity.
This time around, during the credit crunch, people held on to their properties rather than sell at a loss, knowing there was likely to be a recovery. As we know, many who needed to move let their properties rather than selling them.
Alison King
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Sign Up17:10 PM, 4th April 2016, About 9 years ago
Reply to the comment left by "Mike W" at "04/04/2016 - 15:51":
Unemployment is a huge problem in Spain, and so is historic over-development. We have the opposite situation here, along with a rapidly increasing population. That's why property has not been hit. But why our economy is so different from Spain's is a question I cannot answer.
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Sign Up18:16 PM, 4th April 2016, About 9 years ago
Reply to the comment left by "Ranjan Bhattacharya" at "02/04/2016 - 18:48":
My take is that this is only the first step aimed at tax revenue and shaking the BTL tree to see what's left in a couple of years.
Next I suspect will be an introduction of rental caps to ensure rental properties remain affordable despite a shortage, then the big pension funds and investors will move in as in Hull and a German model of corporate ownership with fixed rents will become the norm with a very much reduced private sector. At least I may well be pushing up daisies by then so I'll not be affected!
Trendo
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Sign Up0:00 AM, 5th April 2016, About 9 years ago
The PRS will survive and flourish, but Asylum, low income, HB tenants, vulnerable, people wth mental issues, disabled and care in the community, ex offenders, drug rehabilitaton, supported living tenants are all about to get sqeezed out of the market......the only way the PRS will be able to step back in to assit is with financial incentives - i think there are more punitive steps to come which to be honest i am not putting on here (GO gets ideas from all sorts of ridiculous sources - i am not about to be one of them) - then i think some of these will be relaxed if a LL takes one of the above as a tenant. They have to live somewhere and the PRS is the only option open to them. with HB down and rents up something will have o give or downing street will look like Calais within a few short months.
Claudio Valentini
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Sign Up13:22 PM, 5th April 2016, About 9 years ago
Long post - sorry I didn't have time to make it shorter...
On Clause 24, SDLT raise etc - I’ve lobbied my MP about the unfairness of it all as well as presenting the unintended consequences of repossessions and tenant evictions but frankly, it’s my view that politicians don’t care too much about this issue and with the exception of the Landlord community the majority of people don’t give a sh*t about all this.
I predict more pain; You boil a frog by putting it in cold water and slowly turning the heat up, and as the heat turns up landlords will get no sympathy from any quarter because everyone hates a landlord, don’t they?
I believe the Government have started ‘beating the bushes’ to see who takes flight. It’s my view if you take flight now you’re likely to get shot. I will take a long breath before I make any revolutionary changes. We are moving into a new normal.
Property is still a tangible and appreciating asset and much of the debate on these forums has been about how much less money landlords will make post C24 – however, even if you are leveraged up to the hilt and your business model is not currently viable, you can restructure and still end up making money…You never make a loss on a profit!
The facts are; there is a chronic under supply of housing and supply and demand means that property has effectively become a commodity, so for particular types of property in select locations you will see demand push up the intrinsic value of the property and it’s rentable value. This will continue until the supply and the demand balances out, which isn’t going to be anytime soon. Unfortunately, property shouldn’t be a commodity, it should be someone’s home but it is what it is.
There is no coincidence that institutions want to move into rental property; an appreciating asset base and reasonable yields, in comparison to Gilts and Govt. bonds, and with a readymade and pent up demand. No brainer!
Residential property is still a great investment; I don’t plan to walk away from it. I’ll find another way; there will be demand for many years to come, and as an assets class it will continue to appreciate. No wonder the Institutions and Corporates want a piece of the action, and importantly for the Treasury, no wonder they want to encourage them. Corporations can be regulated and managed to pay their tax and from the Governments’ perspective they can also tap them up for political contributions.
First, they just need to get rid of that ‘pesky cottage industry’
So what did Warren Buffet say? “Be fearful when others are greedy and greedy when others are fearful” - or something like that.
Intuitively, here's what I’m considering my ‘new normal’ plan could look like:
1. Consolidate the existing portfolio and divest some of the worst performing properties to pay down debt and mitigate any loan to value over leveraging that Clause 24 will expose.
2. If I have cash and am minded to buy, take a view on capital growth rather than yield. I’d also make a higher down payment on any new purchase. As I’m in the South that’s easier for me than for most but In short I’ll become a property investor – because that is what the Government considers Landlords to be – and ensure the yield is good enough to get by on. Good quality property in good locations with inherent demand and Freehold properties only.
3. Increasing rents; maybe but I’m not convinced. But if so, reasonably and progressively. If you have good tenants who pay their rent on time and are no trouble it might be better to forgo a premium for a quiet life. I’m of the view that like the mobile phone industry it’s all about the contract; the handset is just the come on and although in this analogy the handset is the house and the contract is the AST, getting the right tenant on a fair long term arrangement I believe is a better strategy than squeezing short term lets for short term cash.
4. I’ll also consider re-mortgaging to take advantage of the current low mortgage rates to improve the cash flow.
5. Retaining a good cash buffer to protect against more of Gideon’s misery is good advice I’ve taken from Mark Alexander, and making the most of Personal Pension plans, as over 55 year olds can treat them as a piggy bank is advice I’ve taken from my accountant.
6. Develop an exit strategy; decide how I’d like to sell my properties, which of them and when; piecemeal or alternatively as a package - perhaps to the new corporate/institutional entrants who will enter the market once Gideon has smashed up the ‘cottage industry’ – I believe you would need to present sound business fundamentals and an operating mechanism for this sort of exit strategy to have legs. In short, I’ll need to be running a proper business.
7. Consider going Corporate for future purchases, but also consider what kind of security you’ll need to offer to support this kind of enterprise (I won’t bet the Ranch), meanwhile I’ll wait and see what Gideon does first…
8. Continue to do the right things; Offer value and good customer service. Rental business is a people business. Treat people like you would like to be treated yourself and you will feel good, look good and you’ll make a difference.
9. Finally, hold fast. Illegitimi non carborundum
Rachel Hodge
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Sign Up15:26 PM, 5th April 2016, About 9 years ago
Reply to the comment left by "Claudio Valentini" at "05/04/2016 - 13:22":
I agree with your positivity, and many will adapt and survive a less profitable model.
There are a few points I think you've missed though:
1. It of course looks more profitable to corporations as they are exempt from the mortgage interest cost reclassification under clause 24. That's the point! They are being given a competitive advantage due to this tax being only applicable to non-incorporated LLs doing exactly the same business. That's the main agenda I believe. Like you say, to weed out the small players, but they are doing that via state aid - putting corporations at a competitive advantage.
2. On from point 1, not all LLs will still make a profit as we will be taxed on turnover, not profit. After deduction of mortgage interest, costs and tax from rental income, it may be that some LLs are at a loss. To quote another writer here, they are being taxed on "fictitious profit." Even worse, some of those LLs taxed on turnover may then be pushed into the 40% tax bracket when they were previously in a lower tax bracket. Double whammy.
3. You can of course pay down some debt by selling properties, but you will have to pay CGT, and I assume that will be applicable since why else would you sell them if there wasn't a profit to be realised. GO did grant CGT relief - but only to corporations - funny eh!
4. I too thought of stuffing as much profit as possible into PIPS since I currently pay 40% tax (before clause 24), and it's sensible to lose it now so that when I do get my hands on it, I pay tax at a lower rate. But I really believe GO, or someone, will cancel that "loophole" of earning now and paying a reduced tax later. Also, annual pension contributions have been reduced, and I imagine will reduce further. So although I agree with you, this may seem currently a good plan, I don't think it's there for much longer and I think my head would explode if the gov took away the advantages AFTER I'd stuffed money into a pension. Another retrospective tax regime!
NW Landlord
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Sign Up9:29 AM, 9th April 2016, About 9 years ago
I have just incorporated my portfolio using Mark smith I would like to thank property 118 for giving the opportunity for me and my friends and business partners Who have portfolios.
I am going to start buying through my new company and feel like I can crack on as I've been in limbo, as we all have for too long. What I worry about is that fool in London applying the same rules for limited companies of a certain size I hope not but you cannot trust him.
The telegraph want to run a feature on us. Me and my business partner are one of the biggest private landords in the area with hundreds of vulnerable family's at risk due to George Osbournes sustained attack on our businesses