Our Privacy Policy

This notice is being provided to you because we are just about to collect personal data from you. It is issued by New Mortgage Finance Limited, trading as NM Finance. It explains how we use your personal data.

Lawful conditions for processing personal data

We will only process your personal data when we meet one of the following lawful conditions:

When we have a lawful contract with you;
When it is our legal duty;
When we have a legitimate interest;
If we need to act in your vital interests; or
When you have provided us consent to process it.

If we process your personal data that has been obtained from someone other than you, we will let you know without undue delay.

Who is collecting your personal information

NM Finance, Portal House, 7b Alkmaar Way, Norwich International Business Park, Norwich, NR6 6BF. The point of contact for all personal data related queries is the Data Privacy Manager.

Why we collect your personal information

We collect personal information provided by you to enable us to create a contract with you which we then fulfil in accordance with the terms and conditions of the contract and our Data Protection Policy. We also need to collect your personal information to meet the legal & compliance obligations placed upon us.

Your information may also be used for other specific purposes but only after you have given your consent, for example, to receive newsletters.

Automated decision

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 use any in-house automated processing mechanisms.

Who we may share your information with

We share your personal data with the appropriate:

Credit reference agencies;
- NM Finance conduct credit checks through TransUnion (formerly Callcredit), for further information about TransUnion and the information it holds click the link below:
  https://www.callcredit.co.uk/legal-information/bureau-privacy-notice
Fraud prevention agencies;
UK regulators and other legal authorities; and/or
Appointees who are instructed to act on your behalf, for example a solicitor.

We will never sell or share your information with marketing companies.

Security of your personal information

We take all reasonable technical and procedural precautions to prevent the loss, misuse or alteration of your personal information. All business data is stored off-site on a server at a secure location and managed by a trusted third-party contractor. 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 for as long as it is needed to provide you with our services and manage our relationship and also to comply with our legal obligations, resolve disputes and enforce our agreements. In practice this could be throughout your lifetime, but this does not prejudice your right to request that your personal data is no longer processed by us (The Right to Object).

Your Rights

The GDPR extends your rights in respect of your personal data. It should be noted that these are qualified in so much that they do not necessarily apply in all situations. The ‘rights’ are listed below.

- Right to be informed;
- The right to access;
- Right to rectification;
- Right to erasure;
- Right to restrict processing;
- Right to data portability;
- Right to object; and
- Rights related to automated decision making.

https://ico.org.uk

Exercising your rights and access to your personal information

If you wish to exercise your right to access to your personal data, please contact the Data Privacy Manager. We will then contact you to check your identity and may request documents to prove it. For all other queries regarding our processing of your personal data and the exercising of all of your rights, please contact the Data Privacy Manager.

Your options if you have a complaint

If you do have cause for concern or a complaint regarding the way we are handling your personal data, we ask that you contact us in the first instance. This way we can resolve any issues at the earliest opportunity.

If you are still unhappy, or you do not wish to contact first you are, in any event, entitled to complain to the ICO. You may also seek judicial remedies against us or any of the third parties we interact with on your behalf, for damages (both material and non-material) arising from breaches of the GDPR. For more information please visit the ICO website using https://ico.org.uk.

Case Studies

Mortgage Protection with a Family History of Cancer

Product Type: Income Protection Cover
Cover Details: Monthly benefit £9898.00, 13-week deferred period, to age 68, 2-Year Plan, Indexation Cover = £56.62pm (initially)

The Scenario – Mortgage Protection with a Family History of Cancer

Our client recently secured a mortgage with NM Finance to purchase her main residence. She had life and critical illness cover in place to protect the mortgage but lacked income protection. As a self-employed individual, she wouldn’t receive statutory sick pay if unable to work due to illness or injury. She wanted to ensure her financial commitments, living expenses, and family would be supported in the event of long-term incapacity, especially considering her family history of cancer.

The Challenge – Overcoming a Cancer Exclusion

The client’s family history of cancer presented a challenge in securing comprehensive income protection. After applying to one provider, cover was offered with a blanket exclusion for all cancers, regardless of the specific types in her family history. This meant no benefit would be paid if her incapacity resulted from any form of cancer, leaving a significant gap in her financial safety net.

Our Solution – Finding a Provider with No Exclusions

Recognizing the importance of mortgage protection with a family history of cancer, NM Finance explored alternative providers. We presented the client’s full family and medical history to several insurers and found the best solution with The Exeter. They offered cover on standard terms with no cancer exclusion. Although the monthly benefit was slightly lower than the initial provider, this policy provided crucial peace of mind, ensuring coverage for any cancer diagnosis and safeguarding her ability to meet her mortgage commitments.