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.

Right to Buy Mortgages

Buying your Council House

The Right to Buy (RTB) Scheme gives a legal right for tenants (who meet certain criteria) to purchase the property they are living in. It applies to properties where the landlord was a council, new town, non-charitable housing association or other public sector body.

Regulated by the FCA

What is a Right to Buy Mortgage?

A Right to Buy mortgage provides eligible social housing tenants with the right to buy their home at a discounted rate. Major changes to the scheme were introduced in April 2012 in an attempt to make it more affordable for tenants. The value of the property is based on the ‘open market value’ on the date of the application

Get in Touch

ANSWERS

How does a Right to Buy Mortgage work?

A social housing tenant will be offered a discount on the purchase price of their home of up to a maximum of £112,800 in London and £84,600 in the rest of England. Depending on the type of property you live in, there are various discount levels for houses and flats.

Houses – 35% discount if a public sector tenant for 3 years.(this can be cumulative and across different properties). After 5 years the discount increases by 1% for every extra year up to a maximum of 70% or £84,600 in England and £112,800 in London boroughs (whichever is lower)
Flats – 50% discount if a public sector tenant for 3 years. After 5 years the discount increases by 2% for every extra year up to a maximum of 70% of £84,600 in England £112,800 in London boroughs (whichever is lower)
The maximum discount threshold increases each year (on 6 April) by the percentage increase in the Consumer Prices Index (CPI). If there is no increase or a decrease – discounts will not change. The maximum amounts quoted above apply from 6th April 2021
If the house is sold within the first 5 years, the landlord has the right to ask for repayment of all or part of the discount. In the first year the whole discount is repayable, reducing by one fifth each following year

Who is it for?

If you are a Council or housing association tenant, living in England, you may be eligible to buy your home through the Right to Buy scheme.

What Right to Buy mortgages are available?

You can benefit from the Standard Residential product range with many lenders offering 100% of the Discounted Purchase Price (subject to affordability). Some lenders allow borrowing above the purchase price, against the property equity. This must be spent on home improvements.

“NM Finance were recommended to us by a friend and I can honestly say that I would recommend to anyone seeking a mortgage."

– G Hacker

Why use us for your Right to Buy mortgage?

More choice when making one of the biggest life decisions

We know that we get the best possible results for our customers time and again, because we are a ‘Whole of Market’ Right to Buy mortgage broker. Based on your individual situation we will find the right mortgage or finance for you.

Have the best chance of completing your Right to Buy mortgage and save time too

We speak to lenders day in and day out – it’s our bread and butter. We know how to present unusual cases to mortgage lenders and what information they need to know. Self-employed, adverse credit or straight-forward remortgage, we can do it all.

We do more than just compare rates

We know that we get the best possible results for our customers time and again, because we are a ‘Whole of Market’ mortgage broker. Based on your individual situation we will find the right mortgage or finance for you.

Holding your hand at every step (if that's what you need, of course)

We will walk through every stage of the Right to Buy mortgage process with you, ensuring that you know what’s coming next. No nasty surprises and a robust way of working that you can rely on.

Got Ideas?
Get in Touch and Tell Us Your Plans

New Mortgage Finance is a whole of market specialist Right to Buy mortgage broker, with over 20 years experience. We are not restricted to a panel of lenders and can search the whole of market for you, to ensure you get the best deal when purchasing your council house.

Arrange a Callback

Please fill in the form below and one of our team will call you back within 24 hours.

Right to Buy Mortgages

Buying your Council House

What is a Right to Buy Mortgage?