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Privacy Policy

Hello and welcome to The Loan Spot, Here at The Loan Spot we appreciate each and every one of our new and existing customers and believe that you deserve the utmost respect when it comes to the privacy and use of your personal details and information. For your benefit we have made our Privacy Policy as clear as possible. All aspects of our Privacy Policy apply to all past and present customers of The Loan Spot. These Policies may change from time to time and we do reserve the right to update or amend this Policy at any time, with or without notice.

Your Consent

By submitting your details and/or using our service you accept this Privacy Policy and therefore consent to the use and disclosure of your personal information/details in the manner as you will find described below. If you have any objection to any of the potential use described in this information we regret to inform you will not be able to process your application. If you continue to use our service you agree to us placing cookies or similar technologies on the machines you use to visit out site and/or make an application. Further information regarding cookies is set out below. Also, you consent to us sharing your data with carefully selected third parties who may contact you via electronic communications (including Email & SMS) regarding unspecified products and services.

Your Security

We fully understand the need for appropriate protection and management of your personal information shared with us. We protect that information using Secure Socket Layer (SSL) encryption technology. We also limit employee access on a need to know basis. We store payment card data in an encrypted form on all computers and manage access through business processes. We use firewalls and other security technologies to protect our servers from any external attack. Our security systems not only meet but exceed industry standards and we are very proactive in monitoring internet developments to ensure our systems evolve as required. We test our system regularly to ensure our security technology is up to date. We are also subject to the UK Data Protection Laws, which we comply with fully to ensure your details are dealt with, with respect.

Data Collection

In conjunction with your financial and personal information you submit, we will also, when able, collect further information, for example, Your IP address, your operating system and your browser type. This is used for system administration and to report aggregate information to our advertisers. To confirm, this is statistical data about browsing actions and patterns and does not indentify or reflect on any individual. We may obtain information about your general internet usage by using a cookie file which is stored on the hard drive of your computer. Again, to clarify, this does not identify any specific individual. The information recorded is sent back to a server each time the browser requests a page from the server which enables the web server to identify and track the web browser. If you require further information regarding cookies, please visit www.allaboutcookies.org . Cookies are used simply to help us improve our service to you, estimate our audience and store information about your preference and recognise when you return to our site.

How We Use Your Data.

To be clear we may sell and/or share the data you submit with third parties involved in the process of this service you request. The third parties we refer to are lenders, credit reference agencies, customer service providers and outsource collection agencies. Please be sure we have trusted relationships with each third party we deal with to perform on our behalf. All third parties are bound by contract to ensure they maintain thorough security of your personal information provided. As the data controller we may use data that indentifies ‘your personal data’ for such things as: statistical analysis, to update our records and to identify which of our products or other’s products may be beneficial/ of interest to you, we also use this to assess lending and insurance risk, prevent, detect and or tackle fraud, money laundering and any other crime. Your personal data is kept confidential with The Loan Spot and is only given to others for the purpose explained. In particular, to our outsource collection agents, to use for the purpose of operating our lending business and obtaining payment,  to share information with an organisation which provides a centralised matching service which is collects from and about mortgage and/or credit applications for the purpose to detect and prevent fraudulent applications, finally to reputable, licensed brokers in the event you may apply to borrow money from www.theloanspot.co.uk your application is declined or the loan monies are otherwise unavailable and we reasonably believe that a credit broker may be able to help you obtain a loan. By submitting your details and agreeing to the terms of this privacy policy you accept and expressly consent to the use and disclosure of your personal data in the manner described. In particular when you apply to us for a loan, we will check the following records about you (and others where applicable) against a) our own; b) those at credit reference agencies (CRAs); c) those at fraud prevention agencies (FPAs).

Credit Reference Agencies

Credit reference agencies (CRA’s) collect and maintain information on consumer’s and business’s credit behaviour, on behalf of lenders in the UK and this is seen by other organisations that make searches. We may also add to your credit file with the CRA details for any agreement you make with us, the payments you make under it and any default or failure to adhere to the agreed terms. These records will be shared with other organisations and may be used and searched by us, and others, in order to consider other applications for credit and credit related services such as insurance you may make, to trace debtors, recover debts and prevent or detect money laundering/fraud, and to manage your accounts. This only reiterates the importance of providing us with accurate and truthful information.