Privacy

Policy

At Loan Arena we respect your privacy and the confidentiality of your personal information.

Who Are We?

Loan Arena is a trading name of Market Financial Solutions (UK) Limited (Loan Arena), company registration number 09362715, which is authorised and regulated by the Financial Conduct Authority (registration number 705439) to undertake broking activities. We provide advice to clients looking for Commercial Loans through experienced and qualified advisors.

Definitions and Interpretations:

DPO means Data Protection Officer, the nominated contact for enquiries, concerns, access, amendment, or deletion requests Loan Arena.
ICO means the Information Commissioners Office. The UK Data Protection supervisory authority.
Personal Data Any information relating to an identifiable natural person who can be identified directly or indirectly from that information. This includes, but is not limited to the name, address, email address, IP address, financial history, bank details, and any other information that can be used to identify an individual.
UK GDPR Means the Data Protection Act 2018.
We/Us/Our Refers to Market Financial Solutions (UK) Limited, trading as Loan Arena.

This Privacy Policy explains:

  • What personal information We collect
  • How We use your personal information
  • Who We share your information with and why?
  • How We keep your information secure
  • Your rights
  • How to contact Us

What personal information we collect

We collect personal information which includes your name, address, or phone number and other information that is not otherwise publicly available directly from you. For example, We ask for personal information at the start of our relationship and in subsequent communications, in order to check your identity and protect you/Us from fraud. This is a legal requirement and is important to help safeguard you and Us against potential crime.

We collect personal information about you when you contact Us about products and services, visit a financial advisor, visit Our website or register to receive one of Our newsletters (if applicable).

The type of personal information We collect will depend on the purpose for which it is collected and includes:

  • Title, names, date of birth, gender, nationality, civil/marital status, contact details, addresses and documents that are necessary to verify your identity.
  • Employment and remuneration information, (including salary/bonus schemes/overtime/sick pay/other benefits), employment history.
  • Bank account details, tax information, Loan and credit commitments, personal credit history, sources of income and expenditure, family circumstances and details of dependents.
  • Your Special Data and any Criminal Disclosures will be used by us in the same way as Your Information generally, as set out in this Privacy Notice.

Contact details

Information to verify your identity and allow Us to maintain contact with you. We will collect contact information such as email addresses and telephone numbers.

Financial information

Information to verify your identity and assess your suitability for products/services, such as your bank details, job description and salary information.

Data retention

We keep your personal information only as long as is necessary for the purpose for which it was collected and to meet regulatory or legislative requirements. Personal information will be securely disposed of when it is no longer required, in accordance with our Data Retention and Disposal Schedule. A copy of this is available using the contact details below.

On what basis do we collect data?

The processing of your personal data is allowed under a number of lawful bases. The data required for the provision of products and services is processed on the basis there is a contract with you to do so. Any relevant marketing activity We undertake is done because, as a firm, We have a legitimate interest to do so. However, you have rights, as listed below, which impact how We can use and process your data.

How we use your personal information

In the course of handling your Information and your Special Data We will:

  • record and store your information and your special data on Network systems run on secure servers. Your information and special data will be accessed by authorised employees and consultants within, or engaged, by Us as necessary for the purposes of supervision, training, quality audits, customer surveys and complaint handling or otherwise to comply with any other legal or regulatory obligation the Network may have
  • use, and where appropriate transmit, your information and your special data to respond to any request from the FCA, the Financial Ombudsman Service, HMRC, the Office of the Information Commissioner or any other regulatory, law enforcement or governmental body
  • need to access and process your information and your special data to deal with enquiries received from mortgage lenders that We engage on your behalf, including the payment of any commission or fees to us that may be linked to the product you have taken out.

Your information and special data will be retained by Us either electronically or in paper format for a minimum of six years and possibly for a longer period where this is required to enable the Network to fulfil its legal and regulatory obligations.

Please note that the above information is a summary of Our Privacy Policy for customers. If, you wish to understand in more detail what We will do with your information and special data, please contact our DPO using the details outlined below.

Who we share your information with and why?

From time to time your information will be shared with or transferred to:

  • Mortgage lenders and product providers.
  • Contractors or suppliers who We may engage to assist Us with any customer feedback exercises.
  • Our professional indemnity insurers, brokers, claims handlers and legal advisers and another person who may provide professional services in connection with the handling of a complaint, litigation, or investigation.
  • Any person We may engage in connection with any investigation to detect, prevent or investigate financial crime, including those that may be carried out by or in conjunction with mortgage lenders, product providers and regulators.

In each case for the purposes set out in this Privacy Notice, i.e. to enable Us to comply with our legal obligations to you, to further our legitimate interests, where there is a substantial public interest and to detect or prevent financial crime.

These parties may be located in the UK or elsewhere in the world where different privacy laws may apply which may not offer the same level of protection as UK law. We only make these arrangements or transfers where We are satisfied that adequate levels of protection are in place to protect any information held in that country and that the service provider acts at all times in compliance with applicable privacy laws.

How we keep your information secure

We are committed to ensuring the confidentiality of the personal information that We hold, and We continue to review our security controls and related policies and procedures to ensure that your personal information remains secure.

When We contract with third parties, We impose appropriate security, privacy and confidentiality obligations on them to ensure that personal information is kept secure.

If We work with third parties in countries outside the EU, We ensure these are countries that the European Commission has confirmed have an adequate level of protection for personal information, or the organisation receiving the personal data has provided adequate safeguards.

In limited circumstances, data may be accessed outside of the EEA i.e. by employees when they travel. In these circumstances, We ensure there are appropriate information security measures in place to safeguard your information.

Your rights

Loan Arena tries to be as open as it can be in terms of giving people access to their personal information and therefore have outlined your rights below. This privacy notice was drafted with brevity and clarity in mind, therefore further information can be gathered by contacting Us using the details below, or more information about your data protection rights can be found here: https://ico.org.uk/for-organisations/guide-to-the-general-data-protection-regulation-gdpr/individual-rights/

Marketing

You have the right to opt out of receiving marketing information which you can do by unsubscribing using the links provide in Our emails and at the point of providing your details. You may opt out at any time if you do not want to receive any further communications of this nature.

Individual Data Rights and Requests

The right to be informed – You can request that We provide ‘fair processing information’, typically through this privacy notice.

The right of access – You may request a copy of the personal information We hold about you, using the contact details found at the end of this privacy notice.

The right to rectification – The accuracy of your personal information is important to Us. You have the right to ask Us to update or correct your personal information.

The right to erasure – You may request the deletion or removal of personal data where there is no compelling reason for its continued processing.

The right to object – You may object to the processing of your data based on legitimate interests.

The right to restrict processing – You have a right to request We ‘block’ or suppress processing of your personal data.

The right to data portability – You may request to obtain and reuse your data; and

The right not to be subject to automated decision-making including profiling.

If you wish to correct, restrict, delete, or make changes to your personal information, or any of the data subject rights listed above, please contact Us at the number/address listed below.

How to contact us

If you have questions about this notice, need further information about Our privacy practices, or wish to give or withdraw consent, exercise preferences, or correct your personal information, please contact Us using the following details:

Data Protection Officer

E-mail: info@loansarena.com

Address:

Market Financial Solutions (UK) Ltd. T/A Loan Arena
134 Buckingham Palace Road
London, SW1W 9SA
United Kingdom

How to complain

If you wish to raise a complaint about how We have handled your personal data, you can contact:

Complaints Officer

E-mail: info@loansarena.com

Address:

Market Financial Solutions (UK) Ltd. T/A Loan Arena
134 Buckingham Palace Road
London, SW1W 9SA
United Kingdom

If you are not satisfied with Our response, or believe We are not processing your personal data in accordance with the law, you can complain to the ICO using the below details:

Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF
0303 123 1113
www.ico.org.uk/concerns