Mortgage application
Our mortgage application is broken down into two sections, Approval in Principle (AIP) and Full Application. Here's how we use your information in each:
Approval in principle
- We will use your personal information, including relevant Sensitive data for processing your application for Approval in Principle, contacting you where necessary, General business purposes, marketing and research.
- When assessing your request, we may carry out a credit reference search with one or more licensed credit reference agencies. Whether or not your request is granted, a credit search will have implications on the future credit worthiness of you or a member of your household.
- We may disclose your information to one or more fraud prevention agencies.
Full mortgage application
- We will use your personal information, including relevant sensitive data e.g. health, criminal proceedings for:
- Processing your mortgage application and arranging associated insurance
- Making credit decisions
- Completing your mortgage and administering your account, up to and including redemption
- Contacting you where necessary
- Fraud prevention and detection
- Legal and regulatory compliance
- Marketing and market research
- General business purposes
- When assessing your request, we may carry out a credit reference search with one or more licensed credit reference agencies. We will only do this if we have not already done a search at AIP stage or if this search is no longer valid. Whether or not your request is granted, a credit search will have implications for the future creditworthiness of you and members of your household
- We may obtain information from HM Revenue & Customs, Department of Social Security (to confirm any income received and payments made), any lender, landlord, employer or professional adviser named on your application
- We may disclose personal information to licensed credit reference agencies, relevant insurance companies and fraud prevention bodies. If a loan is granted, the Society will also give these organisations details of how you conduct your account, including any defaults, arrears or repossession proceedings, and this information will be made available to other prospective lenders and insurers
- We may pass the information provided as part of this application and about any insurance incident to Insurance Database Services (IDS) Ltd, which may pass the information, including searches made, details of incidents and who is insured, to other insurers. IDS Ltd may also pass information it has received from other insurers to us about other incidents involving anyone insured under the policy
- We may disclose information you supply to us, and details of how you conduct your account, including details of disputes, arrears and repossession proceedings, to anyone who guarantees your loan or their legal adviser
- We may disclose details of your account, including balance outstanding, interest rate(s) applicable, early repayment charges and monthly payments to potential borrowers if one of you, in the future, enquires about adding or removing a party to the account (also known as a "transfer of equity"). However, such a transaction will not proceed without a completed application form signed by all account holders.
- Where the mortgage applied for is an offset mortgage, we will disclose information to an offset plus savings account holder(s). Disclosure will be limited to information necessary to manage the offset plus account. This may include a transfer of equity, a product transfer to non-offset mortgage, that total savings exceed the mortgage balance, a request to de-link the offset plus savings account and redemption of the mortgage.
- If the account is registered as Open Market HomeBuy we may disclose details of the valuation at redemption to your HomeBuy Agent.
Call us on 0845 1 200 100*
