Terms & Conditions :

Data Protection

The Data Protection Act requires companies and individuals who process and retain information about their customers to tell the customer how the information will be used and to what purposes it will be put. The Act does not restrict itself only to information kept on a computer; it is relevant to any ordered filing system. The information below describes how your data will be processed.

Credit Brokers

When applying through us or any other credit broker any information you have provided will be used to:

• process the application you have made

• make, or cause searches to be made, at a credit reference agency, or agencies, these searches will be shown in any other searches, which are made in connection with applications made by yourself and other members of your household. The disclosure of multiple searches may adversely affect your credit profile and may make credit harder for you to obtain;

• Information held about you by a credit reference agency may already be linked to records relating to another person, for example your spouse, and for the purpose of your loan application you will be treated as financially linked. Your loan application will be assessed with reference to all linked records; if you have confirmed you are linked financially with another person, you are declaring that you are entitled to (a) disclose information about that person and/or anyone else referred to by you and (b) that you authorise the broker and any lender involved in the application to search, link and/or record information at credit reference agencies about you and/or anyone else referred to by you.

We or any other broker may also use the information:

• to offer you other products which they make available;

• to pass your details on to a lender or lenders they feel may be willing to lend you money;

• to pass on your details to another broker;

• to write to you in the future with a view to offering you products they feel may be of interest to you;

• to pass your details to another broker in the future with a view to them offering you products they feel may be of interest to you;

• to permit access to your information by the FISA or other regulatory bodies to ensure that the broker is processing information correctly and complying with regulatory requirements.
  
  We or any other broker may keep the information for several years. You can ask for the information not to be used to offer you other products. Any other broker or lender to whom the information is passed during processing your application may use it in the same way. Every company or person who processes or keeps data has a duty to keep that information up to date and accurate.

CREDIT REFERENCE AGENCIES

The names and addresses of the main credit reference agencies are listed below. We or any other brokers and lenders may use one or more of these agencies. Information about which credit reference agency was used should be made freely available. This guide tells you all the likely uses; some lenders may only do some of the things we explain. You should be told if a lender is going to use a credit scoring system.

Lending Companies

Use of information when application is being processed: Lenders to whom the application is passed will make wider use of the information than a broker. If you have received any lender documents, they should include a statement telling you what they will 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 any signature box, or clearly placed on the front page. If the information is not by the signature box there may be a padlock sign drawing your attention to where the information is. Almost all lending companies will check the information supplied on loan or mortgage applications 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. Lenders will use the information obtained in the credit reference searches to help them assess the 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 like your age, your job or even for information obtained from a credit reference agency, such as how you have repaid previous or existing credit. Lenders use different methods of scoring depending upon their interpretation of the importance of different factors and the level of risk they are willing to accept. The lender may check your details with the credit reference agency or with other agencies to satisfy itself that all the details on the application are true, and that the application has really been made by you. If it suspects information is false or inaccurate it may report it to a fraud prevention agency. Please ensure the information you give is true as lending companies will check with fraud prevention agencies and if you give false or inaccurate information, and the lender suspects fraud, a note will be made on your record.

OTHER AGENCIES SEARCHED

As well as the credit reference agencies, there are agencies dealing specially with the checking of application details to identify possible fraud. This is a protection for honest applicants, although it can sometimes cause delays. Details of these other agencies, and a brief outline of their purpose, are given below.

What if my loan application is not accepted?

Sometimes a lender may not wish to lend. This may be for a number of reasons. The lender may think you cannot afford the loan. If it is a secured loan, your property may not be of sufficient value. A lender does not have to tell you exactly why you have been refused a loan but you can ask them for the name and address of any credit reference agency used and they will supply this information free of charge. 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. 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. Nobody has a right to receive a loan. Loans are always granted at the discretion of the lending company.

Use of information once a loan has been made All lending companies keep information about their customers in their own records. This will include all the initial information given by you, and extra information about how your account has been run and any other dealings between you and the lender. Lenders will record the conduct of any loan throughout its duration, including how punctually the payments are made and other information, with one or more of the credit reference agencies. This enables them, and others, to make decisions about credit and credit-related services for you and members of your household including decisions on motor and household credit, life and other insurance proposals and insurance claims. Information may also be provided to the other agencies mentioned below. These will help lenders and other subscribers to those agencies to trace debtors, recover debt, prevent fraud and to check your identity to prevent money laundering. In particular, any difference between the information given by you or your broker and any later information discovered by the lender is likely to be noted. Lenders may also use your information for statistical analysis about credit, insurance and fraud. This may be done by them or by third parties contracted to do the work 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 providers, insurers and re-insurers of funding for their lending or any other product they have offered to you. If we or any other broker or lender intends to use your information for any purposes not included above, we/it will explain this in our/its documents. Brokers and lenders are under a legal duty to keep all the information they hold accurate and up to date. The agencies do not keep "blacklists" nor do they give any opinion about whether or not credit should be granted. They do have a duty to keep information up to date and accurate.

Credit Reference Agencies

The main credit reference agencies are:

Callcredit Plc,
Consumer Services Team,
PO Box 491,
Leeds, LS1 5XX

Experian Limited,
Consumer Help Service,
PO Box 8000,
Nottingham, NG1 5GX

All the FISA lending companies use one or more of these agencies. Credit reference agencies keep a wide range of information. This includes information from the electoral roll (sometimes referred to as the voters roll) and records of most county court judgments and bankruptcies. They also retain information relating to previous and existing credit and a record of 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 on file for 6 years. Details of the voters roll may be held for much longer. Information about credit searches is kept for up to two years.

Equifax Plc,
Credit File Advice Service,
PO Box 3001 ,
Glasgow , G81 2DT

Other Agencies:

CIFAS

Reports from CIFAS relating to fraud and fraud avoidance are also available to its members (most lenders) these contain information indicating that fraud, or attempted fraud, has been notified by a lender. The information might not directly relate to you, it might 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' Repossession Register is available to its members through the main credit reference agencies. If you have had a property repossessed or have given it up voluntarily this will show on the register.

Gain

A file may also show a "gone away" marker indicating that a member of the "Gone Away Information Network" has reported that they cannot trace a customer who is in arrears with payments. Alternatively, the marker may indicate a new address which the "gone away" has been traced to.

Hunter

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 and counter checks information given on application forms.

If your 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 customers.

In applying for, or enquiring about, any of the products on this website, including properties, whether by phone or electronically, you agree to the use of your personal information as above. You understand and agree that your information may be passed to other companies for the purpose of acquiring finance and/or property for you or for the purpose of confirming qualification for finance and/or property. You agree to allow The Mortgage Directory (or any other trading style it may use, now or in the future) to send me information on products or its services by e-mail, post or fax. If we e-mail you, contact you by post or fax you in the future with offers on our existing or future products or services, you will have the chance to opt out of further campaigns.

You also agree to the use of 'cookies', so that we may monitor traffic to our website or make you aware of our existing products or services or future products or services at a later date. You will be given the opportunity at such time to decline further contact.

Any information obtained as per the above two paragraphs will not be used by any third party (save for our e-mail marketing company or brokers or lenders to whom we may refer you to in order to obtain a loan or mortgage for you. The aforementioned will need the data to send you information by e-mail). Notwithstanding the exception above, we will use the information solely for marketing purposes.

You also acknowledge that we will not be responsible for any advice given, or misuse of your personal data, by any third party, which we may have referred your information to. However, it should be noted that all third parties to whom we refer business are trusted, established companies with which we have dealt with without incident in the past.

We are an introducer of personal & residential loan business to LoanOptions.co.uk and Norton Finance (we are not authorised under the FSA to give residential mortgage advice). We are introducers of commercial finance to LoanOptions.co.uk, London & Scottish Mortgages, Nat West Bank & Lloyds TSB Bank and we may use other institutions.

http://www.loanxpress.co.uk/is the website portal of the Mortgage Directory.

All Agencies, Brokers and Lenders

You are able to see what information any of the above holds about you. You can ask them for a copy at anytime. They must also tell you where the information was obtained. You will need to write and they may charge a small fee (£10 maximum). The firm will have to reply within 40 days from receipt of their fee. If you wish to see the information contained on a credit reference agency file you can do so by writing to the relevant agency. The agency must respond within 7 working days. There is a small fee of £2 required. If your credit reference 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, removed, or have a note put on the file explaining why you think the information is wrong. The agency will not remove correct information. The Information Commissioner provides a useful leaflet that explains how to request changes to your credit reference file. The easy to read leaflet includes examples of letters and details of various actions you may take to amend a file.

You can obtain a copy of the free leaflet by writing to: