Data Protection & You
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. We will not use your personal data in any other way without ﬁrst
Balmoral Bridging Ltd receives, holds and processes information relating to individuals (‘personal data‘) in accordance with the Data Protection Act 1998 (‘DPA98’). In doing so, Balmoral Bridging Ltd is committed to maintaining the privacy and protection of all personal data collected in pursuance of its loan and broking 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 Balmoral Bridging Ltd Application Form. This may include certain sensitive personal data. 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 any loan application you have made.
- Make, or cause searches to be made, at a Credit Reference Agency, or Agencies.
- Offer you other products which we make available.
- Exercise or defend our legal rights and/or to comply with any legal requirements.
- Contact you in the future to offer you products or services that we feel may be of interest to you.
We may also use and disclose your personal information to permit access to your information by any regulatory or legal authority where required by law and to ensure that we are complying with all regulatory requirements when processing
We may keep your information for several years. You can ask for the information not to be used to offer you other products or services. 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.
Credit Reference Agencies – Searches & 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.
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 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 Reference Agencies Section. We may use one or more of these agencies. Information about which Credit Reference Agency was used will be made freely available. We may check the information supplied on your loan application form against data held by Credit Reference Agencies. This may include more than one search being made. Every time a search is made it is recorded by the Agency and disclosed to other organisations on any later searches. We will use the information obtained in credit reference searches to help assess your application. We may check your details with a 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 we suspect information is false or inaccurate it may be reported it to a fraud prevention agency. Sometimes we may not wish to lend. This may be for a number of reasons. We do not have to tell you exactly why you have been refused a loan. Credit Reference 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 judgments and bankruptcies. They also retain information relating to previous and existing credit and a record of searches made against the ﬁle. 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.
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.dataprotection.gov.uk. Should you wish to obtain a copy of the personal data we hold on you please write to the Compliance Department, Central Bridging Loans, Granary Wharf, Wharf Road, Burton on Trent, DE14 1DU, 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.
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 our 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. Balmoral Bridging Ltd shall collect and process all personal data in respect of its data subjects in line with the data protection principles.
Balmoral Bridging Ltd
6, Parkside Court
Tel 01543 887 337