From 25th May 2018 the EU General Data Protection Regulation is replaced by The Data Protection Act 1998 (DP). Although some of the UK DP’s remain unchanged, there are significant changes and enhancements designed to help strengthen and unify data protection for individuals.
The information contained within this privacy notice sets out how we use the information you provide us. This notice also provides information regarding your privacy rights and how the law protects you.
How the law protects you
The new Data Protection law says that we are allowed to use personal information only if we have proper reason to do so. This includes any sharing of information outside of N M Finance Ltd. Lawfulness of processing conditions require that we must have one or more of these reasons:
- To fulfil a contract we have with you, or
- When it is our legal duty – where it is necessary for compliance with a legal obligation, or
- When it is in our legitimate interest, or
- When you consent to it.
A legitimate interest is when we have a business or commercial reason to use your information. However, it must not unfairly go against your interests, rights or freedoms.
Who is collecting your personal information?
New Mortgage Finance Limited, trading as NM Finance, Portal House 7b Alkmaar Way, Norwich International Business Park, Norwich, NR6 6BF.
What information is collected & why?
We collect personal information provided by you to enable us to fulfil a contract we have with you. These may arise from any contracts entered into between you and us and include our obligations to provide you with the information, products and services that you request from us.
We will only collect enough personal information to provide you with a service/product you’ve requested and to manage our relationship with you.
How is it collected?
The personal information we hold about you comes from the way you engage with us. This could be through conversations with staff, communication via emails, letters, completed application form or health questionaire, our website contact form, registering for competitions and during financial review before the end of the fixed period of your product.
When obtaining a Decision in Principle (DIP), also referred to as an Agreement in Principle (AIP), we submit your information via the Lender’s online automated decision-making process. We do not have any in-house automated processing.
Where else may we obtain information about you?
We may also gain personal information about you from third parties such as credit reference agencies who we check with in relation to the product or service you’re enquiring about or applying for. We will obtain your authority first before conducting any credit checks.
Who will it be shared with?
Credit reference agencies: we carry out checks at credit reference agencies. A record of these checks is kept by the credit reference agency and may impact your ability to obtain credit elsewhere for a short time. This information can be accessed and used by others.
Banks, Mortgage Lenders & Insurance Companies: We will contact the product provider in the course of processing, and submission of, your application.
Fraud prevention agencies: If false or inaccurate information is provided and fraud is identified, details will be shared with fraud prevention agencies and this information may be accessed and used by law enforcement to prevent fraud and money laundering.
UK regulators and authorities: Where necessary for compliance to a legal obligation and regulations such as the Bank of England, Prudential Regulation Authority and Financial Conduct Authority.
In the event of a complaint received via The Financial Ombudsman Service.
Anyone appointed to act on your behalf such as a solicitor, valuer, accountant, insurance company and estate agent.
How we use your personal information
To fulfil our contract with you.
To meet legal & compliance obligations placed upon us.
Your information may be used for other purposes for which you give your specific permission, or, in very limited circumstances, when required by law or where permitted under the terms of the General Data Protection Regulation.
Keeping in touch
We will ask if you’re happy (seek your consent) to receive communications about NM Finance news, events, products and competitions when you apply for a product/service.
Security of your personal information
We promise to take all reasonable technical and procedural precautions to prevent the loss, misuse or alteration of your personal information.
We will never sell or share your information with marketing companies.
NM Finance Ltd do not operate internationally, our business services are limited to the United Kingdom.
Retention of your personal information
We will retain your information as needed to provide you with our services and manage our relationship. We will also retain information as necessary to comply with our legal obligations, resolve disputes and enforce our agreements.
We may collect information using cookies. Cookies are small files placed on your computer’s hard drive or in your browser memory when you visit a website although no personally identifiable information is obtained.
Analytics & SEO
Analytics and search engine providers that assist us in the improvement and optimisation of our site. For example, Google Analytics helps us to track which website pages are accessed and allows us to understand how popular it is and record visitor trends over time. No personally identifiable information is shared but IP addresses may be used to help determine where in the world you’re accessing the site from and to track pages you visit within the website.
Access to your personal information
Under the General Data Protection Regulation you have the right of access to your personal data. This is known as a Data Subject Access Request (DSAR). You can ask us to change or delete any personal information. If we can we will, but sometimes we have to maintain records for legal reasons.
We will contact you to check your identity and purpose for the DSAR, amendments or deletions and may request documents to prove this.
For a copy of your information, please write to:
Data Protection Officer
N M Finance Ltd
7b Alkmaar Way
Norwich International Business Park