Disclaimers, Terms and Conditions

It is important you read the following information, this explains how your data will be used and the terms of use of this website.

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Disclosure & Use Of Your Information

Data Protection - updated 1/12/00
In simple terms 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, If you have applied to a FISA company the information below describes how your data will be processed. If your information is to be processed differently the trader will tell you.

Credit Brokers
If you have applied to a credit broker they will use the information you have provided to:

• Process the application you have made.
• Make, or cause a search to be made, at a credit reference agency (see the note further on) - this search 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.

The 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, if your broker is not able to arrange finance for you.
• 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.

The 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.

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 the 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 an 'information padlock' sign (like the one above) 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. 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 search 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. You should be told if a lender is going to use a credit scoring system. The lender may check your details with the credit reference agency or with other agencies (see pages 24 and 25) 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, it will record this.

NOTE - 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 further on in this text. Nobody has a right to receive a loan. Loans are always granted at the discretion of the lending company.

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 (this applies only if the decision has been made on the basis of a computerised system alone.) 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.

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 further on. 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 your broker or lender intends to use your information for any purposes not included above, it will explain this in its documents. Brokers and lenders are under a legal duty to keep all the information they hold accurate and up to date.

Credit Reference Agencies
The two main credit reference agencies are:

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

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

All the FISA lending companies use one or both of these 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. 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.

Other Agencies

CIFAS
Reports from CIFAS relating to fraud and fraud avoidance are also available to its members (most lenders) - these contain information indication 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 used any of the above agencies they will be able to confirm their contact addresses.

All Agencies, Brokers and Lenders
You are able to see what information any of the above hold 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 Data Protection 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 copy of the free leaflet by writing to:
No Credit Leaflet, PO Box 99, Nelson, BB9 8GS.
Information is also available at www.dataprotection.gov.uk

Terms of Use

1. Acceptance of Terms of Use and Amendments
Each time you use or cause access to this web site, you agree to be bound by these Terms of Use, and as amended from time to time with or without notice to you. In addition, if you are using a particular service on or through this web site, you will be subject to any rules or guidelines applicable to those services and they shall be incorporated by reference into these Terms of Use. Please see our Privacy Policy, which is incorporated into these Terms of Use by reference.

2. Our Service
Our web site and services provided to you on and through our web site on an "AS IS" basis. You agree that the owners of this web site exclusively reserve the right and may, at any time and without notice and any liability to you, modify or discontinue this web site and its services or delete the data you provide, whether temporarily or permanently. We shall have no responsibility or liability for the timeliness, deletion, failure to store, inaccuracy, or improper delivery of any data or information.

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4. Privacy Policy
Registration data and other personally identifiable information that we may collect is subject to the terms of our Privacy Policy.

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Goods and services of third parties may be advertised and/or made available on or through this web site. Representations made regarding products and services provided by third parties are governed by the policies and representations made by these third parties. We shall not be liable for or responsible in any manner for any of your dealings or interaction with third parties.

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You understand and agree that your use of this web site and any services or content provided (the "service") is made available and provided to you at your own risk. It is provided to you "as is" and we expressly disclaim all warranties of any kind, implied or express, including but not limited to the warranties of merchantability, fitness for a particular purpose, and non-infringement. We make no warranty, implied or express, that any part of the service will be uninterrupted, error-free, virus-free, timely, secure, accurate, reliable, of any quality, nor that any content is safe in any manner for download. You understand and agree that neither us nor any participant in the service, provides professional advice of any kind and that use of such advice or any other information is solely at your own risk and without our liability of any kind. Some jurisdictions may not allow disclaimers of implied warranties and the above disclaimer may not apply to you only as it relates to implied warranties.

11. Limitation of Liability
You expressly understand and agree that we shall not be liable for any direct, indirect, special, incidental, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible loss (even if we have been advised of the possibility of such damages), resulting from or arising out of (i) the use of or the inability to use the service, (ii) the cost to obtain substitute goods and/or services resulting from any transaction entered into on through the service, (iii) unauthorised access to or alteration of your data transmissions, (iv) statements or conduct of any third party on the service, or (v) any other matter relating to the service. In some jurisdictions, it is not permitted to limit liability and therefore such limitations may not apply to you.

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We reserve all of our rights, including but not limited to any and all copyrights, trademarks, patents, trade secrets, and any other proprietary right that we may have in our web site, its content, and the goods and services that may be provided. The use of our rights and property requires our prior written consent. We are not providing you with any implied or express licenses or rights by making services available to you and you will have no rights to make any commercial uses of our web site or service without our prior written consent.

13. Notification of Copyright Infringement
If you believe that your property has been used in any way that would be considered copyright infringement or a violation of your intellectual property rights you should contact us immediately.

14. Applicable Law
You agree that this Terms of Use and any dispute arising out of your use of this web site or our products or services shall be governed by and construed in accordance English Law where the headquarters of the owner of this web site is located, without regard to its conflict of law provisions. By registering or using this web site and service you consent and submit to the exclusive jurisdiction and venue of the county or city where the headquarters of the owner of this web site is located.

15. Miscellaneous Information
(i) In the event that this Terms of Use conflicts with any law under which any provision may be held invalid by a court with jurisdiction over the parties, such provision will be interpreted to reflect the original intentions of the parties in accordance with applicable law, and the remainder of this Terms of Use will remain valid and intact; (ii) The failure of either party to assert any right under this Terms of Use shall not be considered a waiver of any that party's right and that right will remain in full force and effect; (iii) You agree that without regard to any statue or contrary law that any claim or cause arising out of this web site or its services must be filed within one (1) year after such claim or cause arose or the claim shall be forever barred; (iv) We may assign our rights and obligations under this Terms of Use and we shall be relieved of any further obligation.

16. Disclaimer
We are not authorised to carry out any regulated activities, as defined by the Financial Services and Markets Act 2000. For example, we are not authorised to give any investment advice. Nothing within the Website is, or shall be deemed to constitute, financial or other advice or a recommendation to purchase any product or service. Any and all information provided within the Website is for general information purposes only. We strongly recommend that independent professional advice is obtained before you purchase any product and/or service via the Website".