Freedom Finance Ltd is committed to keeping your information private. By your 'information' we mean any information about you or anyone associated with you that you or a third party provides to us, as a result of the application process.
Consent, information usage and sharing
By proceeding you are confirming that you have consent of all persons named on the application to act and accept these terms and conditions on their behalf and in doing so give consent to us, our lenders, Credit Reference Agencies (CRA's) and associated brokers to process your and any joint applicants data in the ways described below.
- In order to provide the service you have requested we will process your information and share it with our panel of lenders, CRA's, other specialist brokers and any other third party necessary to assist in your application.
- In order to assess creditworthiness, verify identities, prevent financial crime and so we can find the right lender for your circumstances, we and our lenders may perform 'soft' credit searches (quotation searches) on you and anyone to whom you are financially linked. This search is conducted by a CRA and details of the CRA's we work with are available on request. The result of the 'soft' search will be recorded on your file and or anyone you are financially associated with by the CRA but will not be visible to anyone but you or your financial associates. These searches have no impact on your credit score or the credit score of your financial associates.
- If you choose to proceed with a loan, your selected lender will perform a 'hard' credit search (application search), to verify your identity, confirm your address, assess your creditworthiness and to prevent and detect financial crime. In doing so, the CRA will add the details of this search to all credit files relevant to the application. This search can be viewed by the credit reference agency and any other organisation that conducts a credit search, including other lenders. These organisations may use this information in the future to help make credit decisions, prevent financial crime and to trace debtors.
- If false or inaccurate information is provided, or if a reasonable suspicion of fraud or any other criminal offence is identified, details will be shared with fraud prevention agencies, law enforcement agencies and regulatory bodies who may access and use this information. We and other organisations may access and use the information recorded by fraud prevention agencies to prevent fraud and money laundering, for example, when:
- Checking details on applications for credit and credit related or other facilities
- Managing credit and credit related accounts or facilities
- Recovering debt
- Checking details of job applicants and employees
- Details of the fraud prevention agencies we work with are available on request, please e-mail email@example.com.
- Information held about applicants by CRA's may already be linked to records related to one or more of your partners or members of your household. For the purpose of this application you may be treated as financially linked and the application may be assessed with reference to any 'associated' records.
- To identify you when you contact us.
- To satisfy legal and regulatory obligations placed upon us.
- To perform statistical analysis, system testing and research, with the aim of improving our service.
- To consider and implement business, products and technology developments.
- For the purpose of training our staff.
- For the purposes of auditing and monitoring our business activities.
- We may use the information that you have provided to create your Money Hub account. This will allow you to view and track the progress of your application. Details on how you can access your Money Hub account will be emailed to you.
- Your contact information may also be used by us to contact you regarding your application.
- With your consent, both we and other carefully selected organisations or alternative credit and insurance providers may contact you by telephone, letter, fax, e-mail, SMS or other social media to offer other credit or insurance products which may be of interest to you. We may also send you information about money saving tips and guides. If you do not wish to be contacted with such offers or information then please opt out of future marketing activity on our application form or e-mail us at firstname.lastname@example.org. You may also unsubscribe from future marketing activities via the link in any email you receive from us.
Accuracy of loan quotes
- Freedom Finance Ltd takes every care to ensure the accuracy of the loan quotes which are based on the latest information available from the lenders at that time. However, the lenders on the panel reserve the right to change % APR or % APRC rates and underwriting criteria at any time and without notice. This may result in a change to the loan/secured loan offered to you or may result in the loan/secured loans offer being withdrawn.
- The accuracy of the loan/secured loan quotes depends upon the accuracy of the information you have provided. Freedom Finance Ltd and the lenders on the panel will conduct checks to verify the accuracy of the information you have provided. If information you have provided changes as a result of these checks, the original offer may be changed or withdrawn.
- The expected time periods from submitting your application to receiving your loan/secured loan funds are only a guide. Any delay in the returning of your loan documents, proof of income or identification and/or delays with any third party we or the lender need to contact in order to process your application, may result in your application taking longer to complete.
- If you're thinking of consolidating existing borrowing you should be aware that although you may reduce your monthly outgoings you may be extending the terms of the debt and increasing the total amount you repay.
- It's important that you can afford the repayments now and continue to do so throughout the term of the loan as failure to keep up with your repayments could lead to defaults, CCJ's, ultimately bankruptcy and affect your ability to obtain future credit.
How do we maintain your information?
Review, correction and deletion of information we hold
You have the right to request copies of all records we hold about you. You may request this by writing to us at: Compliance Department, Freedom Finance Ltd, Atlantic House, Atlas Business Park, Simonsway, Manchester, M22 5PR. We shall respond to your request as promptly as possible, but no later than 40 calendar days from receiving it.
How we earn our money
Our income is derived from commissions paid by the lenders and other third parties we deal with for any successful introduction we make. In addition, a broker fee may be charged in relation to a mortgage product you choose to cover our administration and processing costs. This fee will be reflected in the APRC applied to the mortgage. If you chose to add the fees to the mortgage it will be included in any monthly payment you are quoted. You can opt to pay the broker fee upfront, your Mortgage Adviser will discuss these options with you.
How to give feedback or make a complaint
Your opinion is very important to us. Listening to your views helps us develop our company ethos of having customers at the heart of what we do! Please e-mail us email@example.com with any feedback you may have.
We all make mistakes and if we do get something wrong we want to know about it so we can put it right. We treat all complaints very seriously and promise to deal with them fairly and promptly, and in many cases we will resolve them straight away. If you have a complaint please contact us by writing to the Compliant Dept. at the above address, via e-mail firstname.lastname@example.org or telephone us on 0161 498 7739.
Freedom Finance Ltd will try to resolve any complaint with you. However if you are unhappy with our final response or we are unable to issue our final response within 8 weeks of receiving your complaint you can refer your complaint to the Financial Ombudsman Service. You can get more information about them at the following link: http://financial-ombudsman.org.uk/consumer/complaints.htm
What law is applicable to your contract with us?
In legal disputes, the Law of England will apply. As required by law, please note any terms and conditions of your application and agreements will be in English, governed by the laws of England and Wales and we will communicate with you in English.
How do we use third party websites?
Our website may contain links to sites operated by persons outside Freedom Finance Ltd. These terms and conditions do not apply to those websites. We are not responsible for the privacy practices, content, or the products and services provided through those sites. We do not accept any responsibility for such third party website, including without limitation for their accuracy, security, the products or services which they offer or for any information which is collected through them. You are responsible for reviewing and abiding by the privacy policies and website terms and conditions of such third party websites.