Loans for people with low income

Privacy Statement

Who are we?

1st Loan is a trading name of Joel Malach. Trading address: Warwick House, 14 Lowes Road, Bury. BL9 6PJ

Our Data Protection Officer is Mr Joel Malach, dpo@1st-loan.co.uk: Telephone: 0161 763 4783

Why do we need your data?

We will hold and process your data in order to assist you with obtaining a loan or second charge mortgage. If you do not provide the information we request, we will be unable to assist you in obtaining the right finance option. We will only collect the data we need.

What right do we have to process your data?

We are regulated by the Financial Conduct Authority (FCA www.fca.org.uk) - firm registration mumber 720851, which means we are accountable for the products and services we provide. We are obligated to maintain detailed records of transactions with customers and so we process your data on the basis of 'processing is necessary for compliance with a legal obligation' as set out by the Information Commissioner’s Office (ICO www.ico.org.uk).

What do we do with your data?

All of the personal data we hold about you will be processed by our staff based in the United Kingdom. 'Personal Data' is data that identifies you as an individual.

Your information may be stored on a cloud-based system whose servers are located within the EEA. We take all reasonable steps to maintain the security of your data.

1st Loan acts in a broking capacity; we are not lenders. In order to help you achieve the finance you require, we will need to share your data with a lender at the appropriate time. We pride ourselves on our systems and we take great care over how we process customer data, and ensure it is done securely and safely at all times. We want you to be confident in 1st Loan and be assured that we take the security and privacy of your data seriously.

How long do we keep your data?

1st Loan is a FCA regulated firm and we need to retain full and detailed records of all of our customer transactions in order to meet regulatory requirements.

The FCA require us to retain such records for a minimum of six years. After 6 years, we will delete all information we have about you. We feel it is important to be able to retrieve any of our records for a period of 6 years to respond to or support customer or regulator enquiries.

Credit Reference Agency Data

1st Loan will not carry out any credit searches.

In order to get a picture of your true credit position, the broker we pass your information to will access and search your credit file with a credit reference agency. Please contact these firms directly for more information (firm details shown below)

What are your rights?

Importantly you have significant rights as to how 1st Loan, or any business, uses and handles your data. Below is a brief summary:

  • The right to be informed – and this notice you are reading is doing just that!
  • The right of access – you can always ask to see what data we hold about you
  • The right to rectification – this is saying if you believe any data stored about you is incorrect, you can ask us to correct it, and we will
  • The right to request erasure or the ‘the right to request to be forgotten’ – we have a legal requirement to maintain customer records (See ‘How long do we keep your data’ above)
  • The right to restrict processing – you can ask us to 'stop' processing your data at any time; however you should be aware if you do, then we will be unable to proceed with your application
  • The right to data portability – should you want to, we can arrange for your data to be formatted into a simple electronic file and sent to you
  • The right to object – similar to the right to restrict processing (above), you can ask us to 'stop' processing your data at any time; however you should be aware if you do, then we will be unable to proceed with your application
  • Rights in relation to automated decision making and profiling – you have a right to be made aware of this

You also have the right to make a complaint about how your data has been processed by 1st Loan. In the first instance, you can contact us directly by email: dpo@st-loan.co.uk, or phone 0161 763 4783, or you can contact the ICO directly at www.ico.org.uk.

What may other organisations do?

If, with your permission, we pass your data on to another organisation in order to assist you; any data we have supplied plus any data requested or gathered by that business will be held by that business for the purposes they then set out in their own 'fair processing notice' or 'privacy policy'. You are strongly advised to read that businesses' guidelines on how they treat your data before entering into any agreement. 1st Loan bears no responsibility for the use of your data beyond our control.

Policies

Please find below 1st Loan's Policies on how we deal with the Data Protection Act, The Privacy and Electronic Communications (EC Directive) Regulations 2003 and the General Data Protection Regulation. These Acts and Regulations cover how we deal with sensitive personal data

Terms of Use

Your Personal Information
1st Loan is a trading style of Joel Malach, who is the data controller under the Data Protection Act 1998 in relation to the processing of your personal data in connection with the website www.1st-loan.co.uk and your loan enquiry. The broker we refer your enquiry to will use your information to provide you with a quote, to process your application and for marketing purposes. They will contact you by phone, email and text unless you tell them otherwise. We will treat all your information as private and confidential (even when you are no longer a customer) except where we are permitted to disclose your information by law, or where the disclosure is made at your request, or is made with your consent in relation to arranging your loan or mortgage. Where necessary to process your application, your data will be shared with third parties such as the broker, the lender, your mortgage provider, joint applicants and credit reference agencies (see Credit Searches below). Telephone calls will be recorded by the broker for monitoring, staff training and regulatory purposes. We will store the information we hold about you on computer and in other records. We will use your information in accordance with the principles of the Data Protection Act, including data security requirements. We will only use this information for the purposes registered under the Data Protection Act. Further information regarding how we use your information will be provided by the broker we refer your enquiry to with any loan documentation that may be sent to you.

You have the right of access to your personal records upon request to the Data Protection Officer and payment of a £10 fee. Should you wish to exercise this right or if you have any questions or comments regarding our data protection policy or any matter referred to in our policy please contact the Data Protection Officer at the correspondence address shown below. Information may be transferred and or stored to third parties which may be located outside the European Economic Area. We will ensure that your personal information is protected to the level of standards in accordance with the Data Protection Act 1998. If your information is shared with a third party, we will instruct and state restrictions which will protect your information. Our third party partners will also have their own privacy policies which we recommend that you refer to them.

We refer enquiries to the following brokers
Secured Loan enquiries are forwarded to Fluent Money Ltd, company number 06200496. Fluent Money Ltd is authorised and regulated by the Financial Conduct Authority. Firm registration number 654425. Fluent Money Ltd registered office address: Laurel House, 173 Chorley New Road, Bolton BL1 4QZ, trading address: 102 Rivington House, Chorley New Road, Bolton BL6 5UE. Licenced by the Information Commissioners Office, (registration number Z9868049)

Guarantor loan enquiries are forwarded to UK Credit Limited, which is Registered in England No 6929807. Authorised and regulated by the Financial Conduct Authority Reference No. 721556. Registered with the Information Commissioner's Office Z2022318. UK Credit's registered Office is at St Crispin's House, Duke Street, Norwich, Norfolk, United Kingdom, NR3 1PD.

All other unsecured loan enquiries are automatically forwarded to Lead Affinity, which is a trading name of Loan Machine Limited (Registered in England 5517368), authorised and regulated by the Financial Conduct Authority - reference 729302. ICO Registration: Z9250764. Loan Machine Ltd principal place of business: 9 Blake Drive, Bradwell, Great Yarmouth, Norfolk, NR31 9GW.

Future Marketing
Unless you advise us to the contrary, both we and other brokers or lenders we refer your application to may contact you by telephone, letter, e-mail, sms or fax to offer other products which we feel may be of interest to you, including mortgages. If you do not wish to be contacted with offers of other products which we think may be of interest to you please write to the Data Protection Officer at the correspondence address shown below, or e-mail your name and address (including postcode) to info @ 1st-loan.co.uk

Services
As an introducer and credit broker we will introduce you to a broker or affiliate who will help you search for a loan and provide a matching service. To help you with your application and search for a loan, we pass your data to a broker or an affiliate who in turn passes this information to a group of lenders and credit brokers on their lending panel. The lenders on the broker's or affiliate's panel may be willing to enter into a consumer credit agreement with you, subject to their assessment of your creditworthiness and the affordability of the loan among other compliance checks. On submitting your application, the affiliate also share your information with other trusted regulated credit brokers who will simultaneously endeavor to match your application with their lending partners. If they find a match, your application is redirected to the lender's website. You will not be offered an unsuitable product.

We have commercial links with our trusted brokers and affiliates and will generally receive a payment from them (not you) in the form of a commission if they are successful in matching you or if they actually fund a loan. The affiliate's panel currently consists of 30 lenders and brokers and their matching services only relate to that group, therefore, please note that the services do not constitute an entire market search for loan products. While the brokers and affiliate's providers have been chosen to provide a variety of products, there are other products on the market that are not available from their panel and, one or more of them may be more appropriate or suitable for you, so you may wish to shop around.

We encourage you to consider the brokers' and affiliate's Lending Partners' websites, FAQs, pre-contractual information and terms of the loan documentation carefully to determine whether the loan offered is suitable for your financial circumstances and whether you can afford to make the repayments under the proposed loan throughout its term.

We do not charge you a fee for the services or offer advice which assesses the merits of entering into a particular loan. If the broker or affiliate matches you with a lender it is not a specific recommendation and we have not negotiated the terms of any loan agreements on your behalf.

As 1st Loan is not a lender, we cannot guarantee that completing and submitting your information via the form will result in you receiving a loan. Individual lenders may, at their discretion, require you to complete their own application process and undertake further checks.

Where the broker or affiliate offers you a high cost short term loan, they will ensure that you do not enter into any agreements for high-cost short-term credit which would exceed the cost cap for high-cost short-term lending. There are three elements to the price cap: (1) an initial cost cap of 0.8% per day – interest and fees charged must not exceed 0.8% per day of the amount borrowed (2) a £15 cap on default fees – if borrowers default, fees must not exceed £15. Firms can continue to charge interest after default but not above the initial rate; and (3) a total cost cap of 100% - borrowers must never pay more in fees and interest than 100% of what they borrowed. Please see the relevant lender's website for full details.

Credit Searches
The broker we refer your enquiry to will make searches about you at credit reference agencies who will supply them with credit information, as well as with information from the Electoral Register. The agencies will record details of the search whether or not this application proceeds. They will only perform an ‘Enquiry Search’ at this stage, which will not affect your credit rating. This type of search is recorded as a multi-footprint “SQ” Search Quotation which you will be able see on your credit report. Other lenders and credit providers will not be able to take these into account when deciding whether to offer you credit in the future. If you decide to proceed with one of the loans they offer then they will perform an ‘Application Search’. They will do this on behalf of the lender and only when they have received your signed application form from you. Application searches may affect your credit score as they are used by lenders when deciding whether to lend you money. They may use credit-scoring methods to assess your application and to verify your identity. Credit searches and other information provided to them and/or the credit reference agencies, about you and those with whom you are linked financially, may be used by them in connection with your application. This information may also be used for debt tracing and the prevention of financial crime as well as the management of your account. To prevent or detect fraud, or to assist in verifying your identity, they may make searches of their records as well as using fraud prevention agencies who will supply them with information. They may also pass information to financial and other organisations involved in fraud prevention to protect ourselves and their customers from theft and fraud. If you give them false or inaccurate information and they suspect fraud, they will record this. They and other companies may use this information if decisions are made about you or others at your address(es) in relation to credit or credit-related services.

Credit Searches – Joint Applications
In addition to the terms stated for a credit search above, by stating a financial association with another party, you are also declaring that: You are entitled to disclose information about your joint applicant and/or anyone else referred to by you; You authorise them to search, link and/or record information at credit reference agencies about you and/or anyone else referred to by you. Information held about you by the credit reference agencies may already be linked to records relating to one or more of your partners. For the purposes of this application you may be treated as financially linked and your application will be assessed with reference to any “associated” records.

Complaints - click here to download our Complaints Policy
What happens if things go wrong? You should find your dealings with us and the broker we refer your enquiry to be prompt, efficient and friendly. Our aim is to provide you with a professional and confidential service. If you have a complaint about any aspect of the service you have received, we will be happy to help resolve your concerns. We recommend that you bring your concerns to our attention as soon as possible – the sooner we know about it the sooner that we can resolve it. We have a formal complaints procedure to ensure that your complaint is handled quickly, fairly and efficiently; a leaflet with details of this process is available on request. On receipt of your complaint the matters raised will be investigated by us or by an independent Complaint Handler within the broker's company. Upon receipt of a complaint, an acknowledgement letter will be sent within two working days and if you remain dissatisfied, or if the complaint is not resolved within 8 weeks from receipt, you can take your complaint to the Financial Ombudsman Service.
Should it be necessary to obtain information from third parties to further these investigations, you will be informed of this and where appropriate your written authority obtained before any disclosures being made by them to third parties. For further information or to make a complaint please contact the Compliance Director at the correspondence address shown below, or on info @ 1st-loan.co.uk:

Financial Ombudsman Service
If we or the broker are unable to resolve your complaint to your satisfaction you may have the right to refer your complaint to the Financial Ombudsman Service: Financial Ombudsman Exchange Tower London E14 9SR
Telephone numbers:
0800 023 4 567 - calls to this number are now free on mobile phones and landlines
0300 123 9 123 - calls to this number cost no more than calls to 01 and 02 numbers
Should you wish to refer the complaint to the Ombudsman, this must be done within 6 months of receiving the final response letter.
Website: www.financial-ombudsman.org.uk

European Online Dispute Resolution Platform
In relation to your complaint, you can also request a review from the European Online Dispute Resolution platform: http://ec.europa.eu/consumers/odr/

General Terms of Use
The website www.1st-loan.co.uk is owned and maintained by Joel Malach. By accessing and using this website you are agreeing to abide by the terms and conditions contained in their Legal and Privacy Notice. If you do not agree to abide by these terms and conditions, please do not use this website. Our Correspondence address: Warwick House, Lowes Road, Bury. BL9 6PJ. Email: info @ 1st-loan.co.uk.  Joel Malach is authorised and regulated by the Financial Conduct Authority. Firm registration number 720851 Data Protection Registration Number Z8904952. Trading names include 1st Secured Loans UK and Complete Finance

Links to Other Websites
Links to third party websites are provided solely for your convenience. When you use the links you are leaving their website. Please be aware that they are not responsible for the content of third party websites or for the privacy practices of the operators of such other sites.

Links to this Website
We will allow third parties to link to our website only with our written consent. Consent will only be given if third parties agree: not to use or alter any of our trade marks or intellectual property, particularly The 1st Loan logo, without our written consent; not to imply that their products or services are endorsed by us; not to misrepresent their relationship with us; that their website does not contain anything that might negatively impact our reputation.

Cookies, Log Files, Clear Gifs
We do not use cookies, log files or clear gifs

Intellectual Property
The copyright and all other intellectual property rights in all material on this website are owned by Joel Malach. You may print and download extracts from it only if you do not modify documents or related graphics and our copyright and trade mark notices appear in all copies. Otherwise no part of this website may be reproduced or stored without our prior written permission.

Provision of Service
While we endeavour to ensure that this website is available 24 hours a day, access to it may be suspended temporarily and without notice, for example in the case of system failure, maintenance or other reasons beyond our control. We are not liable if the website is unavailable for any period of time.

Disclaimer
We endeavour to ensure that the information on this website is correct and up to date. However, we do not warrant the accuracy and completeness of material on the website. We may make changes to website content, or to products and prices described in it, at any time and without notice.

Liability
We exclude all liability and responsibility for any loss or damage that may result to you or a third party in connection with this website or use thereof. This includes loss or damage caused by viruses. Note that their liability is not excluded or limited for death or personal injury caused by negligence; fraud; misrepresentation or any liability which cannot be excluded or limited under applicable law.

Changes to the Legal and Privacy Notice
We may make changes to this Legal and Privacy Notice at any time. Changes will be notified by the amended version of the Notice being posted on this website. You should therefore check this website from time to time to ensure you are aware of the latest terms and conditions applicable to your use of the website.

Governing Law
This Legal and Privacy Notice and your access to and use of this website is governed by and interpreted in accordance with English law. Disputes arising in connection with this Legal and Privacy Notice and your access to and use of this website are subject to the exclusive jurisdiction of the English courts.

Queries
Should you have any general queries or concerns regarding this privacy statement, please don’t hesitate to contact us using the email address below.

Contact details
Correspondence address: Warwick House, Lowes Road, Bury. BL9 6PJ.
Main email: info @ 1st-loan.co.uk.

Data Protection Officer: Joel Malach
Telephone: 0161 763 4783
Email: dpo@ 1st-loan.co.uk


This page was last updated 14th April 2017