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Privacy Notice

(New Build Affordability Check)

All companies known together in this document as "we". "our" and "us"

Mortgage Bureau are an Appointed representative of Mortgage Advice Bureau Ltd and Mortgage Advice Bureau (Derby) Ltd. As the controller of your data, Mortgage Advice Bureau comply with Data Protection laws in the United Kingdom and the EU General Data Protection Regulation (GDPR).

The personal information we receive

The new home builder shares the following data to Mortgage Bureauin order to initiate contact:

The personal data we collect about you

Personal data collected, used, stored and transferred by us may include:

How do we use your personal information?

Purpose/Activity
To perform an affordability check for a new build property

Type(s) of data

Lawful basis for processing
Consent

Do I have a choice about my personal information being used in this way?

You have the right to object to your personal data being processed for the purposes outlined above. However, you may then be asked to provide alternative means to demonstrate affordability for the property you wish to reserve. If you do wish to object to this processing of your personal data then please inform your adviser, or contact data.protection@mab.org.uk

What happens once affordability has been established?

After affordability has been established, you will have the option of proceeding with the mortgage application, and the personal data already collected by us will be used to support such an application. If you decide to proceed with a full mortgage application, the new Privacy Notice will be issued that supersedes this notice.

Change of purpose

We will only use your personal data for the purposes stated above, unless we reasonably consider that we need to use it for another reason and it is compatible with the original purpose. Please contact us for an explanation as to how any new processing compatible with the original purpose.

If we need to use your personal data for an unrelated purpose, we will notify you and explain the legal basis which allows us to do so. Please note that we may process your personal data without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.

Changes to our Privacy Notice

We keep our Privacy Notice under regular review and we will place any updates on this web page. This Privacy Notice was last updated on 23rd April 2018. Historic versions can be obtained by contacting us.

Marketing communications

Your personal information collected as part of an affordability check will not be used for the purposes of marketing communications.

Who we disclose personal data to

Type of recipient Reason
Within Mortgage Advice Bureau Depending on your requirements, it may be necessary to share your personal data with Mortgage Advice Bureau's specialist product providers in order for suitably qualified advisers to establish affordability
Lenders and protection product suppliers To source potential affordable products to establish affordability.
External suppliers Specialist IT system providers to facilitate the sourcing of products. It may also be necessary to share your personal information with non-affiliated companies who perform support services on our behalf including those that provide professional, legal or accounting advice to Mortgage Advice Bureau.
New home builders We may share information about the progress of your application with the new home builder with whom you are interacting
Regulators Sharing of information may be necessary to fulfil our legal obligations as a regulated profession, for example with the Financial Conduct Authority, to verify your identity and comply with Anti Money Laundering legislation, and otherwise co-operate with law enforcement, legal proceedings or regulatory authorities.
Others Third parties to whom we may choose to sell, transfer, or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this privacy notice

These companies are required to ensure appropriate security measures are in place and maintain the confidentiality of your personal data, and to use your personal data only in the course of providing such services and in accordance with our instructions.

Data Security

We have put in place appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. We also limit access to your personal data to only those staff, appointed representatives, advisers, business partners and suppliers who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality. We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

How long is your personal data retained?

For affordability checks, personal data is retained for two years from the Decision In Principle. After this period if there is no on-going relationship your personal data will either be securely deleted or anonymised so that it can be used for statistical purposes but without any method of identifying you individually.

You have the right to:

Questions

If you have any questions or complaints relating to how we use your personal data, or if you wish to exercise any of your rights regarding your personal data, please contact data.protection@mab.org.ukor write to us. We will respond to you as soon as is possible. The length of time will depend on the type and complexity of the request, but you will receive a response no later than one month from the initial request.**

What if I am still not satisfied?

If you are not satisfied with how the Mortgage Advice Bureau has responded to your enquiry, you have the right to complain to the Information Commissioner's Office(ICO), who is the regulator for data protection in the United Kingdom.