Data Protection PolicyThe 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. We will not use your personal data in any other way without first informing you.
Flexible Finance (UK) Ltd receives, holds and processes information relating to individuals (“personal data”) in accordance with the Data Protection Act 1998 (“DPA98″). In doing so, Flexible Finance UK Ltd is committed to maintaining the privacy and protection of all personal data collected in pursuance of its broker and loan services.
Collection of data
We will collect information which you provide to us when you enquire about or apply for finance, which includes information gained from either or both stages of the Flexible Finance (UK) Ltd application form. We may also collect data about you from our searches at credit reference agencies (see below)
Use of data
We will use your personal data to;
- Process the application you have made by reference to lender information.
- Make, or cause searches to be made, at a credit reference agency, or agencies.
- To offer you other products which we make available.
- Exercise or defend our legal rights and/or to comply with any legal requirements.
- Provide your information to a lender for them to assess your suitability.
- Complete the credit agreement on behalf of the lender.
- Pass your information in its entirety to an alternative broker when Norton Finance cannot assist in brokering you a loan.
We may also use and disclose your personal information to;
- A lender or lenders in accordance with your application.
- Another broker if we are not able to arrange finance for you.
- Enable us to pass your details to another broker in the future with a view to them offering you products or services they feel may be of interest to you. (subject to obtaining your consent).
- Permit access to your information by any regulatory authority where required by law and to ensure that we are complying with all regulatory requirements when processing your data.
- Other legal authorities if required by law.
- Contact you in the future to offer you products or services that we feel may be of interest to you.
- Fraud prevention agencies to prevent fraud and money Laundering.
We may keep your information for several years. You can ask for the information not to be used to offer you other products. We have a duty to keep the personal information which we hold about you up to date and accurate and secure from misuse or accidental loss or damage.
NOTE – CREDIT REFERENCE SEARCHES AND FINANCIAL LINKS
Please note that searches at credit reference agencies will be shown in any other searches which are made in connection with applications made by you and/or 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 us 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
The names and addresses of the main credit reference agencies are shown in the “credit references agencies” section. We may use one or more of these agencies. Information about which credit reference agency was used will be made freely available.
All lending companies have their own individual privacy policies and customers should refer to these in respect of how they will use personal data. 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.
Both ourselves and 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.
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 been really made by you. If it suspects information is false or inaccurate it may report it to a fraud prevention agency.
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.
Nobody has a right to receive a loan. Loans are always granted at the discretion of the lending company.
Credit Reference Agencies
(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)
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
Equifax Plc, Credit File Advice Service, PO Box 1140, Bradford, BD1 5US
All 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 known as the voters roll) and records of most county court judgements 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.
Fraud Prevention CIFAS
Reports relating to fraud and fraud avoidance are also available to 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.
If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies.
Law enforcement agencies may access and use this information.
We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when;
- Checking details on applications for credit and credit related or other facilities
- Managing credit and credit related accounts or facilities
- Recovering debt
- Checking details on proposals and claims for all types of insurance
- Checking details of job applicants and employees
The proposed lender and other organisations may access and use from other countries the information recorded by fraud prevention agencies.
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.
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.
Access to your data.
You are able to see what information we hold about you. You can ask us for a copy at anytime. We will also tell you where the information was obtained. You will need to write and we may charge a small fee (£10 maximum). We will reply within 40 days from receipt of your 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 which 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: No Credit Leaflet, P.O. Box 99, Nelson, BB9 8GS.
Information is also available at www.ico.gov.uk
Should you wish to obtain a copy of the personal data we hold on you please write to the Compliance Department, Flexible Finance (UK) LTD, 79 Risca Road, Newport, NP20 4HY. enclosing your payment of £10 for our administration costs. As soon as we are satisfied as to your identity we will send you, within 40 days, a copy of all the data we hold concerning you. Please contact us at the same address if you have any reason to believe the data we hold on you is inaccurate.
Like many websites, when you visit this website we may issue a ‘cookie’ or unique code that allows us to identify your computer. We use the cookie to note the different areas of this website recently accessed through your computer in order that we may monitor which pages of the site are of most interest to you. We will 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.
Calls to our offices may be recorded; this is for our protection and yours. Calls are used for training and monitoring purposes and may be used in the unlikely event of a complaint.
Changes to this Data Protection Policy
We may edit or amend this Data Protection Policy from time to time. If we make any substantial changes in the way we use your personal information we will notify you by posting a prominent notice on the home page of our website. Flexible Finance (UK) LTD shall collect and process all personal data in respect of its data subjects in line with the data protection principles.