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Best-Secured-Loans.com – Privacy Statement
The terms & conditions contained herein, also include the
privacy policy & data protection.
The
Data Protection Act requires companies & individuals who process and retain information
about their clients, to advise the clients how the information will be used.
The Act doesn’t restrict itself to information held on a computer but can also
includes any filing systems to retain such information.
Best-Secured-Loans.com holds,
receives and processing information relating to individuals personal data in
accordance with the Data Protection Act 1998. In doing so Best-Secured-Loans.com is committed to maintaining the privacy
& protection of all personal data collected in the pursuance of its loan broker
& loan processing services.
Best-Secured-Loans.com is also
committed to ensuring that it websites are absolutely secure in their
collection and use of any personal client information.
Collection
of data
Best-Secured-Loans.com collects & processes your personal data in order to provide you with a loan
broker service. As an introducing loan and credit broker Best-Secured-Loans.com will use the personal data provided on your
application form to carry out the following:
- Provide
your information to a secured loan packager to assess your enquiry.
- Provide
your information to a credit reference agency for searches to be made.
- Complete
a credit agreement on behalf of a secured loan lender or broker.
- Provide
your information to a secured loan lender for them to assess your suitability.
- Pass
your application in its entirety to another broker when Best-Secured-Loans.com or their loan packagers cannot assist with
your enquiry.
Best-Secured-Loans.com may
also use your personal information to:
- Offer
you other products or services available via or from our partners
- Contact
you in the future to offer you financial or related products that may be of
interest to you.
- Enable
us to pass your details to another loan broker or intermediaries who may be
able to offer you products or services of interest to you.
- Permit
Regulatory bodies, such as the FSA, to ensure that we are processing your loan
in compliance with
regulatory requirements.
Best-Secured-Loans.com may
hold your information for as long as you allow us to do so and we will contact
you on a regular basis to check that you still consent to being contacted by us
regarding our loan products & services.
Lenders
to whom the application is passed will make wider use of the information than a
loan broker. If you have received any lender documents, they should include a
statement telling you what they may do with the information,
or telling you where to look to find out what use they will make of it. This
statement will usually be near
the signature box or clearly placed on the front page. If the information is
not by the signature box there
may be an information padlock sign identifying where the information is
contained.
Both Best-Secured-Loans.com our secured loan
packagers and almost all lending companies will check the information supplied
on loan applications or remortgage enquiries with data held by credit reference
agencies. The lender may search on more than one occasion. Every time a search
is made it is recorded by the agency and disclosed to other organisations on
any later searches.
www.Best-Secured-Loans.com
– Privacy Statement
Lenders
will use the information obtained in the credit reference searches to help them
assess the
Loan or
remortgage application and they may use the result of any search in a credit
scoring system. A credit scoring system is a system by which points are given
for various factors in the application, such as your age, your employment,
marital status etc or even information obtained from a credit reference agency,
such as how you have repaid previous or existing credit. Lenders use different
methods of credit scoring depending on their interpretation of the importance of
different elements and the level of risk they are will to accept.
Lenders
may check your details with the credit reference agency or with other agencies
to satisfy itself that
all the details on the application is true and that the application has really
been made by you. If they suspect
the information is false or inaccurate they may report it to a fraud prevention
agency such as CIFAS. Therefore please ensure the information is true as
lending companies will check with fraud prevention agencies and if you give
false or inaccurate information and the lender suspects this, they will record
it.
If a
lender decides not to lend to you it may be for a number of reasons: The lender
may think that
you either
cannot afford the loan or mortgage, or that your property may not be of
sufficient value.
Lenders
do not have to tell you exactly why you have been refused a loan or remortgage
but you can ask them
for the name & address of any credit reference agency used and they will
supply this information free of
charge. The credit reference agency may however levy a charge to supply you
with any credit information.
If you
are refused credit because of a computerised credit scoring system you can ask
the lender for an explanation
of how their credit scoring works (this only applies on credit scoring
applications). In these circumstances the lender may charge a small fee for
providing this information. You also have the right to require a personal,
non-automated review of the decision. However no-one has a right to receive
finance and both secured loans and mortgages are always granted at the
discretion of the lending company.
Use
of information once a loan or mortgage has been granted
Lending
companies always keep information about their clients in their own records and
this includes a record of the conduct of
any loan or mortgage throughout its duration, including how punctually payments
have been made. This enables them to make decisions about credit services for
you or members
of your household, including motor and household insurance and life insuranc proposals.
Information
may also be provided to “other agencies” listed below which can help lenders
and other
to
trace debtors, and prevent fraud. They can also check your identity to prevent
money laundering.
Lenders
may also use your information for statistical analysis about credit, insurance
& fraud. This may be undertaken
by them or by a 3rd party contracted by them. If they use a
contractor, they are obliged to
ensure that your data is properly secure. Many lenders will also need to give
information about you and your
account to their bankers, other loan providers, insurers and re-insurers of
funding for their lending or any other product they have offered to you. If
your loan broker or lender intends to use your information for any purposes not
included above, they will explain this in the documents issued to you.
Loan brokers
& lenders are legally obliged to keep all the information they hold
accurate and up-to-date.
The
agencies do not keep “blacklists” nor do they give any option about whether or
not credit should be granted.
They do have a duty to keep information up to date and accurate.
www.Best-Secured-Loans.com
– Privacy Statement
Credit
Reference Agencies
The
main credit reference agencies used by loan brokers and lenders are:
Equifax Plc
Credit
File Advice Centre
P.O. Box 1140
Bradford
BD1 5US
www.equifax.co.uk
Callcredit Ltd
Consumer
Services Team
One Park Lane
Leeds
LS3 1WZ
Tel:
0870 060 1414
www.callcredit.co.uk
Experian Ltd
Consumer
Help Services
P.O. Box 7710
Nottingham
NG80
7WE
www.experian.co.uk
All
lending companies will use 1 or more of these credit reference agencies who keep
a wide range of information.
This includes information from the voters roll and records of most county court
judgements (CCJ’s) defaults and
bankruptcies. They also retain information relating to previous and
existing
credit and a record of previous credit searches made against the file. The
lenders share information through the agencies providing a history of how
punctually payments are being made or have been made. Loan information is
usually held for 6 years. Details of the voters roll may be held for much
longer. Information about credit searches is kept for up to 2 years.
Other
agencies
CIFAS
Any
information relating to fraud and fraud avoidance are held by CIFAS and are also
available to its members and mainly lenders.These contain information
indicating that fraud, or attempted fraud, has been notified by a lender. The information
might not directly relate to you, but may relate to someone who has tried to
impersonate you. Data available to members of CIFAS may also be used to help
make decisions on motor, household, credit, life and other insurance proposals
for you and members of your household.
CML Repossession Register
The
Council of Mortgage Lenders (CML), Repossession Register is available to its
members through the main credit reference agencies. If you’ve had a property
repossessed or have gave it up voluntarily this will show on this register.
GAIN
This
stands for “Gone Away Information Network” and is sometimes used by its members
to ascertain whether someone has “gone away” or vacated a property without any
forwarding address. It may also be reported if a member cannot trace a customer
who is in arrears with payments and a marker is placed on the search. .
Alternatively, the marker may indicate a new address which the “gone away” has
been traced to.
www. Best-Secured-Loans.com
– Privacy Statement
HUNTER
The
Hunter system was set in place by lenders to help them reconcile application
details with other applications made to other lenders. Files in this register
contain detailed information on applications made and loans given. It is aimed
at tracing fraudsters who use different combinations of information to obtain
credit dishonestly. It checks information given on application forms.
If your
loan broker or lender uses any of the above agencies they will be able to
confirm their contact addresses. CIFAS information is intended to warn lenders
and act as a protection for innocent clients.
If you
wish to see the information contained on a credit reference agency file you can
do so by writing to the relevant
agency at the addresses above. The agency must respond within 7 working days
and there is a small fee of £2 required payable to the respective agency. If your
credit file contains information about other people with whom you have no
financial connection or if it contains information which is incorrect you can
ask for the entry to be corrected,or removed. You can also have a note put on
the file explaining why you think the information is wrong. The agency will not
remove correct information.
The
Information Commissioners Office (www.ico.gov.uk) provides a useful leaflet
which explains how to request changes to your credit reference file. This leaflet
includes examples of letters and details or various actions you may take to
amend a credit file. You can obtain a copy of the free leaflet by writing to:
No Credit Leaflet
P.O. Box
99
Nelson
BB9 8GS
We will
explain to you how to initiate the request formally enclosing a payment of £10 to cover
our administration costs. As soon as we are satisfied as to your identity we
will send you, within 40 days, a copy of the data we hold about you. You can
also contact us if you have any reason to believe the data we hold on you is
inaccurate.
Cookies
Like
many websites when you visit our website we issue a ‘cookie’ or unique code which
allows us to identify your
computer. We use the cookie to record where applicable the website that
referred you to our site and to note
the different areas of our website recently accessed through your computer. It
is only used in relation to our
website and no in relation to any other websites you may visit. We may use the
information collected in this
way to tell you about services or products which might be of interest to you
when you make further visits
to this website.
Call
recording
Calls
to our offices may be recorded; this is for our protection and yours. Calls are
used for training &monitoring
purposes and may be used in the unlikely event of a complaint.
Disclosure
Best-Secured-Loans.com reserves
the right to disclose personal data the police and any relevant regulatory
bodies as required by law or regulation and in the event of the sale of its
business (or part thereof) where it is necessary to do so in order to affect
the sale of a data subject’s personal data in connection with such a business
sale.
Contacting
us
If you
have any questions about our Privacy and Data Protection Policy please contact
us at:
Best-Secured-Loansl,
21-23 Skinner Street, Gillingham,
Kent. ME7 1HD
.
www.Best-Secured-Loans.com
– Privacy Statement
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