Please read this policy to understand what information will be collected and how it will be used.
Data Protection Act
Loanexplorer fully complies with the Data Protection Act 1998.
Information sharing and disclosure
Loanexplorer does not rent, sell or share any information about visitors to the site.
If you have completed a loan application your information will be passed to a credit broker. They will use the information you have provided to:
- process the application you have made;
- make, or cause a search to be made, at a credit reference agency – this search will be shown in any other searches which are made in connection with applications made by yourself and other members of your household. The disclosure of multiple searches may adversely affect your credit profile and may make credit harder for you to obtain.
The broker may also use the information:
- to offer you other products which they make available;
- to pass your details on to a lender or lenders they feel may be willing to lend you money;
- to pass on your details to another broker, if your broker is not able to arrange finance for you;
- to write to you in the future with a view to offering you products they feel may be of interest to you.
- to pass your details to another broker in the future with a view to them offering you products they feel may be of interest to you.
- to permit access to your information by the FISA or other regulatory bodies to ensure they are processing information correctly and complying with regulatory requirements.
The broker may keep the information for several years. You can ask for the information not to be used to offer you other products.
Any other broker or lender to whom the information is passed during processing your application may use it in the same way.
Every company or person who processes or keeps data has a duty to keep that information up to date and accurate.
Security of your personal information
We take reasonable technical and organisational precautions to prevent the loss, misuse or alteration of your personal information.
We store all the personal information you provide on our secure (password and firewall protected) server.
Of course, data transmission over the internet is inherently insecure, and we cannot guarantee the security of data sent over the internet.
You may tell us to provide you with any personal information we hold about you. Provision of such information will be subject to:
(a) the payment of a fee (currently fixed at £10.00); and
(b) the supply of appropriate evidence of your identity (for this purpose, we will usually accept a photocopy of your passport certified by a solicitor or bank plus an original copy of a utility bill showing your current address).
We may withhold such personal information to the extent permitted by law.
You may instruct us not to process your personal information for marketing purposes, by sending an email to us. In practice, you will usually either expressly agree in advance to our use of your personal information for marketing purposes, or we will provide you with an opportunity to opt-out of the use of your personal information for marketing purposes.
We are obliged by the Consumer Credit Act 2006 to provide you with a final response to any complaint made within 8 weeks. We will try to deal with it a lot sooner. In the event that the complaint cannot be resolved, we will help you contact the Financial Ombudsman Service (FOS), who settle disputes between consumers and businesses providing financial services.
Session cookies will be deleted from your computer when you close your browser. Persistent cookies will remain stored on your computer until deleted, or until they reach a specified expiry date.
IP addresses and information specific to your computer
Loanexplorer logs IP information when you visit the site. Loanexplorer also collects information that your computer’s browser automatically reports to us such as information about your operating system and browser version.