The Second Mortgage Company 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 their 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 brokers and any other third party we believe may be able to help you.
- 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 second mortgage 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 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.
- 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.
- 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 email@example.com.
Accuracy of second mortgage loan quotes
- The Second Mortgage Company takes every care to ensure the accuracy of the second mortgage 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 second mortgage loan offered to you or may result in the second mortgage offer being withdrawn.
- The accuracy of the second mortgage loan quotes depends upon the accuracy of the information you have provided. The Second Mortgage Company 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 second mortgage 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.
How do we maintain your information?
The Second Mortgage Company is committed to safeguarding the privacy of your information. We use industry standard methods to ensure that all the information you provide via this site is secure. When it reaches us, we then store it on secure servers so that it can only be viewed by authorised personnel. We will only collect personally identifiable information to the extent deemed reasonably necessary to serve our legitimate business purposes
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, The Second Mortgage Company, Crown House, Crown Road, Portslade, BN41 1SH. A fee of £10 is payable for this request, so please enclose a cheque with your letter. 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 any fees upfront
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.
Third party websites?
Please note The Second Mortgage Company is not responsible for the content of external websites.
The Second Mortgage Company uses "cookie" technology. "Cookies" are encoded strings of text that a website stores on a consumer's computer. Cookies enable our company to customise our site to your requirements and provide you with a greater online experience. In addition, cookies are used to gauge usage of several of our pages on our website to enable us to enhance our information and make it more pertinent to your requirements.