VERSION 2.1 - 21 MAY 2021
This document sets out how and why we process data about you, the reasons for doing so, and sets out your rights relating to Data Protection legislation.
For the purposes of the General Data Protection Regulation 2016 and the Data Protection Act 2018 (together “the Data Protection Legislation”), we are the data controller of the information we collect and use about you.
1. DIFFERENT WAYS WE OBTAIN INFORMATION ABOUT YOU, FOR EXAMPLE:
Information you give your broker, financial adviser, us or other companies in our group when you apply for a mortgage or at other times;
What we or other companies in our group learn from our relationship with you and the way in which you run your mortgage account(s);
Public records like the Electoral Register, County Court Judgments (CCJs) and bankruptcies;
from people such as your past and current employers, solicitors, intermediaries, debt counsellors, lenders, landlords, accountants, banks, tax offices and insurers, who may provide references or other information about you to help with our lending decisions;
Firms who give us information to help check your identity and credit history, check for crime (such as fraud and money laundering) and carry out regulatory checks such as Experian; and
Information you give us directly.
2. INFORMATION WE MAY USE ABOUT YOU TO:
Carry out the checks mentioned in 1, and prevent and detect fraud, money laundering and other anti-financial crime checks;
Verify your identity and the identity of your spouse, partner or any contributors who may be part of your application;
Seek references and information about you where it is reasonably necessary to decide whether to lend to you;
Decide whether to give you a loan and (later) whether to increase your loan or offer you other products;
Refresh the information we already have about you, for example to make enquiries with Credit Reference Agencies to check whether you can still afford the mortgage and any further lending or to update our references;
Make credit decisions about you to help us to administer your mortgage account;
Set up and run our relationship with you, and collect your payments;
Assist us in arrears handling and debt collection;
Help run and improve our business;
Market other products to you where we have your consent;
Meet our obligations to any relevant regulatory authority;
Protect our interests;
Carry out assessment and analysis (including credit and/or behaviour scoring, market and product analysis) to better understand the performance of our mortgages, to help us design appropriate collection strategies and to develop and improve our services to you and other customers.
3. INFORMATION WE MAY GIVE ABOUT YOU TO:
Others to do similar checks to us (or to people who store and share information to help others do such checks);
Affiliates and other businesses in our group, to use in the same ways as us;
People giving you or us services (for example intermediaries, solicitors, valuers, loan servicing companies, insurers, debt counsellors, debt collectors, analytic and market research firms and people funding us or running your account for us), to use as reasonably needed for those services;
People giving you advice/your advisers (including but not limited to accountants, lawyers or other professional advisers) where authorised by you;
Any party with whom you or your agents have or are considering entering into a contractual agreement in relation to any mortgage;
Anyone to whom we may transfer our relationship with you (or part of it), to prepare for the transfer and, if the transfer goes ahead, to use in the same ways as us;
Any actual or proposed purchaser of your mortgage or anyone who takes a charge over it and any person involved in its funding or who has or intends to acquire an interest in your mortgage (securitisation entities) and all their advisers;
Anyone we reasonably think we should (or can) give the information as required by law;
Any actual or proposed third party guarantor of your obligations under the mortgage, or any third party provider of security or insurance for our benefit in connection with your loan; any actual or proposed buildings and/or contents insurer; our regulator the Financial Conduct Authority and its successors and industry bodies;
Fraud Prevention Agencies, Credit Reference Agencies, the police and any other relevant law enforcement agency; The Land Registry, the Registers of Scotland and HM Revenue & Customs and other proper bodies, persons or bureaux;
Any other party who it may be necessary to inform in connection with any contemplated merger or acquisition or litigation; and
If you have a joint account, we may give information about one of you to the other (or others) of you.
Please note, if we give someone information about you, we will (as appropriate) ask them to keep the information confidential and safe.
4. SPECIAL CATEGORY DATA
We may use special category data about you for the purpose of processing the application and for the duration of the mortgage to run our relationship with you. This notice serves to ask you for permission to do this.
Special category data may include information, or can be inferred from the data, relating to your health, religion, and commission of offences or court proceedings. For example, if you ask us not to telephone you on particular religious holidays, we would need to record this on your file. We may also keep a record of any health issues you tell us about, as we are required by the Financial Conduct Authority (FCA) to identify vulnerable customers to ensure we treat them fairly.
4.1 CRIMINAL RECORDS AND OFFENCES DATA
We may use this category data to satisfy our risk requirements in deciding to lend to you, or for the purposes of fraud prevention or any other requirement that we are obliged to undertake by law.
5. CREDIT REFERENCE AGENCIES (“CRAS”)
In order to process your loan application, we will perform credit and identity checks on you with one or more Credit Reference Agencies (“CRAs”) such as Experian. Where you take a loan or other product from us we will also make periodic searches at CRAs to manage your loan account with us.
To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and CIFAS fraud prevention information. We will use this information to:
Assess your creditworthiness and whether you can afford to take the product;
Verify the accuracy of the data you have provided to us;
Prevent criminal activity, fraud and money laundering;
Manage your account(s);
Trace and recover debts; and
Ensure any offers provided to you are appropriate to your circumstances.
We do not utilise CRA ‘scores’ to make lending decisions; we only use factual account history records as provided by the CRAs. We will continue to exchange information about you with CRAs while you have a relationship with us, including whether or not you make your loan repayments on time, if you default on your mortgage, if we take possession of your property or enter into any repayment arrangements. If you have a loan and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs. This reporting may make obtaining future credit more difficult. When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.
A number of searches within a short period may impact on your ability to obtain credit.
If you are making a joint application, or tell us that you have a spouse or financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.
The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention periods and your data protection rights with the CRAs are explained in more detail in the Credit Reference Agency Information Notice (CRAIN), a common statement developed by the 3 major CRAs. A copy of the CRAIN can be found on these sites: Callcredit (www.callcredit.co.uk/crain); Equifax (www.equifax.co.uk/crain); Experian (www.experian.co.uk/crain).
6. FRAUD PREVENTION AGENCIES (“FPAS”)
Before we provide services, goods or financing to you, we undertake checks for the purposes of preventing fraud and money laundering, and to verify your identity. These checks require us to process personal data about you.
The personal data you have provided, we have collected from you, or we have received from third parties will be used to prevent fraud and money laundering, and to verify your identity.
Details of the personal information that will be processed are, for example: name, address, date of birth, address, contact details, financial information, employment details, and device identifiers, including IP address.
We and fraud prevention agencies may also enable law enforcement agencies to access and use your personal data to detect, investigate and prevent crime.
We process your personal data on the basis that we have a legitimate interest in preventing fraud and money laundering, and to verify identity, in order to protect our business and to comply with laws that apply to us. Such processing is also a contractual requirement of the loan or other product you have requested.
Fraud prevention agencies can hold your personal data for different periods of time, and if you are considered to pose a fraud or money laundering risk, your data can be held for up to six years.
6.2 AUTOMATED DECISIONS
As part of the processing of your personal data, decisions may be made by automated means. This means we may automatically decide that you pose a fraud or money laundering patterns or if our processing reveals your behaviour to be consistent with that of known fraudsters or money launderers; or is inconsistent with your previous submissions; or you appear to have deliberately hidden your true identity.
6.3 CONSEQUENCES OF PROCESSING
If we, or a fraud prevention agency, determine that you pose a fraud or money laundering risk, we may refuse to provide the services and financing you have requested, or to employ you, or we may stop providing existing services to you.
A record of any fraud or money laundering risk will be retained by the fraud prevention agencies, and may result in others refusing to provide services, financing or employment to you. If you have any questions about this, please contact us on the details provided.
6.4 DATA TRANSFERS
Whenever fraud prevention agencies transfer your personal data outside of the European Economic Area, they impose contractual obligations on the recipients of that data to protect your personal data to the standard required in the European Economic Area. They may also require the recipient to subscribe to ‘international frameworks’ intended to enable secure data sharing.
6.5 YOUR RIGHTS
Your personal data is protected by legal rights, which include your rights to object to our processing of your personal data; request that your personal data is erased or corrected; request access to your personal data.
For more information or to exercise your data protection rights see section 13 below or please contact us using the contact details provided.
You also have a right to complain to the Information Commissioner’s Office which regulates the processing of personal data.
7. INSURANCE AND DATABASE REGISTERS
We may give information about you (and any incident you tell us about) to insurance database registers to share with other insurers. The insurance database registers may also give us information from other insurers about your insurance history.
8. YOUR FINANCIAL ASSOCIATES
We, other businesses in our group, CRAs and FPAs may link you (or may already have linked you) in our records with others who are financially “associated” with you. They may include, for example:
anyone applying jointly with you now or in the past;
your husband, wife or partner (and maybe, as appropriate, other members of your family and household); or
your contributor(s), if one or more are part of your loan application.
For the purposes of this application you may be financially linked as your application will be assessed with reference to any “associated” records.
We and other lenders may take this association into account in future applications for credit or financial services. You will stay linked to a financial associate until you (or your financial associate) successfully apply to the record keepers for “disassociation”.
Whenever we get, use or give others information about you, we may do the same (for related purposes) with information about your financial associates.
9. OUR LEGAL BASIS FOR PROCESSING YOUR DATA
In most cases our use of your personal data is necessary for the administration of our agreement with you or for the purposes of our legitimate interest in running our business. However sometimes we process your information because we have a legal obligation to do so, for example to carry out anti-money laundering checks, or where it is in the public interest. In other cases we will ask for your consent before we process your data.
10. TRANSFERRING INFORMATION OVERSEAS
All countries in the European Economic Area (including the UK) have similar standards of legal protection for information about you. We may give the information to people in countries outside the European Economic Area which are not considered to have the same level of data protection as in the EU. If we do this, we will require the people with whom we share your information to protect it to at least UK standards (for example by imposing contractual obligations on them).
Should you wish to know more about how data is protected please contact us using the details below.
11. AUTOMATED DECISIONS
We may use credit scoring methods or other automated decision-making systems to check your identity, help us decide whether to lend to you and (later) to run our relationship with you.
Following completion of your mortgage, we may use automated systems for the purposes of research carried out in connection with the mortgage lending business, some of which are legal obligations.
If we decide not to progress your mortgage application, your intermediary will be informed and if the decision is based solely on automated decision making systems, you will be given an opportunity to appeal in writing.
You have rights in relation to automated decision making, in that you may seek manual intervention including reassessment of any automated decision. If you want to know more please contact us using the details provided in section 17 below.
12. YOUR DATA, YOUR RIGHTS
You may exercise several rights in relation to the data we process about you. These are:
12.1 ACCESS TO YOUR PERSONAL DATA
We will tell you whether we process personal data concerning you, and provide you with the required information about that processing, as well as a copy of the personal data. There is no charge for this, unless the request is disproportionate or excessive, or if you request additional copies. If you wish to exercise this right, please write to us at Unit 22, 2-4 Exmoor Street, London W10 6BD, stating that you are making a “Data Subject Access Request”.
Please let us know if you believe that we are using any inaccurate or incomplete personal data about you.
12.3 OTHER RIGHTS
As determined by Data Protection Legislation, you may ask us to:
Erase the personal data we hold and use about you (right of erasure);
Restrict the way in which we hold and use your personal data (right of restriction);
Provide you with your data in a re-usable structure, or transmit this to another party as your request (Right of Data Portability);
Stop holding or using your data for specific reasons, including marketing (right to object).
Please note that in most circumstances we are unable to cater for these rights as your personal information is necessary for the processing of your mortgage.
12.4 AUTOMATED PROCESSING
You also have the right not to be subjected to a decision based solely on automated processing (e.g. taken solely by a computer) where this decision has a legal or otherwise significant effect on you.
If you would like to exercise any of the rights mentioned in 12.2, 12.3, and 12.4, or for further information in relation to the way in which we process your data, please contact our Data Protection Officer via the details in section 16 below.
You can find out more about your rights, and how to exercise them, or refer any concerns you have to the Information Commissioner’s Office (www. ico.org.uk or call their helpline on 0303 123 1113).
13. MARKETING PREFERENCES
Your mortgage intermediary will have confirmed your marketing preferences to us when he submitted your mortgage application and confirmed whether you consent to us contacting you to tell you about other financial products that may suit you and give your information to other people to do the same. If you need confirmation of what marketing preferences you have selected please ask us or your intermediary.
If you change your mind in the future you can withdraw your consent to marketing at any time by telling us.
14. HOW LONG WILL PERSONAL DATA BE RETAINED?
Records shared with credit reference agencies remain on file for 6 years after they are closed, whether settled by you or defaulted.
We store other information for as long as it is necessary for the purposes for which we collected it, in accordance with the Data Protection Legislation.
15. WHO CONTROLS MY DATA?
The data controller of your information is LiveMore Capital Limited.
16. QUERIES AND COMPLAINTS
If you have any questions about how your personal data is used or wish to complain, please contact:
The Data Protection Officer
LiveMore Capital Limited
2-4 Exmoor Street
You also have a right to complain to the Information Commissioner’s Office (www.ico.org.uk), whose contact details are:
Information Commissioner’s Office Wycliffe House
Tel: 0303 123 1113 (local rate) or 01625 545 745 if you prefer to use a national rate number.