OSV Limited (“OSV”) comprises the following entities:
OSV receives, holds, and processes information relating to individuals (“personal data”) in accordance with the General Data Protection Regulations (GDPR). In doing so, OSV is committed to maintaining the privacy and protection of all personal data collected in pursuance of its broker services. OSV is further committed to ensuring that its websites are absolutely secure in their collection and use of your personal information. All entities that comprise OSV are registered on the public register of data controllers maintained by the Information Commissioner.
The general principles under the GDPR that OSV will follow at all times are set out below.
OSV’S COLLECTION AND USE OF YOUR PERSONAL DATA
When engaging OSV Limited’s brokerage services, you will usually need to disclose to us the following but not limited to:
- first name(s), surname or company name (including representation as the case may be)
- address (street, street number, postal code, city and country/region)
- email address
- date of birth
- telephone and mobile number
- employment details (employer name, employer address, employment history)
- monthly income and expenditure
- bank details (account number, account holder and card number)
- VAT ID number (as the case may be)
I. OSV collects and processes your personal data in order to provide you with a loan, lease, broker service, personalised service, marketing and 3rd party products we believe would be of interest to you.
II. shall collect and process all personal data in respect of its data subjects in line with the following data protection principles:
III. shall collect and process all personal data fairly and lawfully;
IV. shall only use personal data for the purposes stated at the time of its collection and shall seek the customers consent before using the personal data for any other purpose with the exception of purposes for which OSV is required to process data by any legislation or regulatory requirement;
V. shall ensure that all personal data collected is adequate, relevant and not excessive, for the purposes for which it is processed;
VI. shall ensure that all personal data is accurate and where necessary kept up to date;
VII. shall ensure that all personal data is retained for no longer than is necessary for the purpose for which it is being processed;
VIII. shall ensure that personal data is processed in accordance with the rights of the data subject;
IX. shall obtain your written or verbal consent before processing sensitive personal data.
X. shall ensure that appropriate technical and organisation measures are taken against unauthorised or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data.
As a credit broker OSV will use your personal data provided on your completed application form to carry out the following functions:
– Process the application itself by reference to lender information.
– Provide your information to a lender for them to assess your suitability.
– Provide your information to a credit reference agency for searches to be made.
– Pass your application in its entirety to an alternative broker when OSV cannot assist in arranging finance for you.
We may also use your information (with your consent where applicable) to:
– Offer you other products or services which are available from or via OSV.
– Contact you in the future to offer you products or services that we feel may be of interest to you.
– Enable us to pass your details to carefully selected partners in the future with a view to them offering you products or services we feel may be of interest to you.
– Permit access to your information by any regulatory authority where required to by law and to ensure that we are complying with all regulatory requirements when processing your data.
We will keep your information for as long as you allow us to do so and we will contact you on a regular basis to check that you still consent to being contacted by us regarding our products and services.
Lenders to whom the application is passed will make wider use of the information than a broker. If you have received any lender documents, they should include a statement telling you what they will do with the information, or telling you where to look to find out what use they will make of it. This statement will usually be near any signature box, or clearly placed on the front page. If the information is not by the signature box there may be an “information padlock” sign like the one shown below drawing your attention to where the information is.
Both ourselves and almost all lending companies will check the information supplied on loan and lease applications with data held by credit reference agencies. The lender may search on more than one occasion. Every time a search is made it is recorded by the agency and disclosed to other organisations on any later searches.
Lenders will use the information obtained in the credit reference searches to help them assess the application and they may use the result of any search in a credit scoring system. A credit scoring system is a system by which points are given for various factors like your age, your job or even for information obtained from a credit reference agency, such as how you have repaid previous or existing credit. Lenders use different methods of scoring depending upon their interpretation of the importance of different factors and the level of risk they are willing to accept.
The lender may check your details with the credit reference agency or with other agencies (see ‘other agencies’ section) to satisfy itself that all the details on the application are true, and that the application has really been made by you. If it suspects information is false or inaccurate it may report it to a fraud prevention agency. Please ensure the information is true as lending companies will check with fraud prevention agencies and if you give false or inaccurate information, and the lender suspects fraud, it will record this.
Sometimes a lender may not wish to lend. This may be for a number of reasons. The lender may think you cannot afford the loan or lease, or you already have enough commitments.
A lender does not have to tell you exactly why you have been refused a loan or lease but you can ask them for the name and address of any credit reference agency used and they will supply this information free of charge.
If you are refused credit because of a computerised credit scoring system you can ask the lender for an explanation of how their credit scoring works (this applies only if the decision has been made on the basis of a computerised system alone). The lender may charge a small fee for providing this information. You also have the right to require a personal, non-automated review of the decision.
Nobody has a right to receive finance.
Finance is always granted at the discretion of the lending company.
Use of information once the finance has been granted
All lending companies keep information about their customers in their own records. This will include all the initial information given by you, and extra information about how your account has been run and any other dealings between you and the lender.
Lenders will record the conduct of any loan or lease throughout its duration, including how punctually the payments are made and other information, with one or more of the credit reference agencies. This enables them, and others, to make decisions about credit and credit-related services for you and other members of your household including decisions on motor and household credit, life and other insurance proposals and insurance claims.
Information may also be provided to the ‘other agencies’ listed below. These will help lenders and other subscribers to those agencies to trace debtors, recover debt, prevent fraud and to check your identity to prevent money laundering. In particular, any difference between the information given by you or your broker and any later information discovered by the lender is likely to be noted.
Lenders may also use your information for statistical analysis about credit, insurance, and fraud. This may be done by them or by third parties contracted to do the work for them. If they use a contractor, they are obliged to ensure that your data is properly secure. Many lenders will also need to give information about you and your account to their bankers, other providers, insurers and re-insurers of funding for their lending or any other product they have offered to you.
If your broker or lender intends to use your information for any purposes not included above, it will explain this in its documents.
Brokers and lenders are under a legal duty to keep all the information they hold accurate and up to date.
The agencies do not keep “blacklists” nor do they give any opinion about whether or not credit should be granted. They do have a duty to keep information up to date and accurate.
Credit Reference Agencies
The main credit reference agencies are:
Consumer Services Team
One Park Lane
Tel: 0870 060 1414
Consumer Help Services
PO Box 7710
Credit File Advice Centre
PO Box 1140
All lending companies use one or more of these agencies. Credit reference agencies keep a wide range of information. This includes information from the electoral roll (sometimes known as the voters roll) and records of most county court judgements and bankruptcies. They also retain information relating to previous and existing credit and a record of searches made against the file. The lenders share information through the agencies providing a history of how punctually payments are being made or have been made. Loan information is usually held on file for 6 years. Details of the voters roll may be held for much longer. Information about credit searches is kept for up to two years.
Reports relating to fraud and fraud avoidance are also available to most lenders – these contain information indicating that fraud, or attempted fraud, has been notified by a lender. The information might not directly relate to you, it might relate to someone who has tried to impersonate you. Data may be used to help make decisions on motor, household, credit, life and other insurance proposals for you and the members of your household.
If false or inaccurate information is provided and fraud identified, details may be passed to fraud prevention agencies. Law enforcement agencies may access and use this information. We and other organisations may also access and use this information to prevent fraud money laundering and terrorist financing, 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 on proposals and claims for all types of insurance
- Checking details of job applicants and employees
Please contact the Finance Department at OSV, OSV Ltd Unit C2 Yeoman Gate, Yeoman Way BN13 3QZ or telephone us on 01903 538835 if you want to receive details of the relevant fraud prevention agencies.
We and other organisations may access and use from other countries the information recorded by fraud prevention agencies.
A file may also show a “gone away” marker indicating that a member of the “Gone Away Information Network” has reported that they cannot trace a customer who is in arrears with payments. Alternatively, the marker may indicate a new address which the “gone away” has been traced to.
Files in this register contain detailed information on applications made and loans given. It is aimed at tracing fraudsters who use different combinations of information to obtain credit dishonestly. It checks and counter checks information given on application forms.
If your broker or lender uses any of the above agencies they will be able to confirm their contact addresses. CIFAS information is intended to warn lenders and act as a protection for innocent customers.
X. If you wish to see the information contained on a credit reference agency file you can do so by writing to the relevant agency. The agency must respond within 7 working days. There is a small fee of £2 required. If your credit reference file contains information about other people with whom you have no financial connection or if it contains information which is incorrect you can ask for the entry to be corrected, removed, or have a note put on the file explaining why you think the information is wrong. The agency will not remove correct information.
The Information Commissioner provides a useful leaflet which explains how to request changes to your credit reference file. The easy to read leaflet includes examples of letters and details of various actions you may take to amend a file. You can obtain a copy of the free leaflet by writing to:
No Credit Leaflet
P.O. Box 99
Information is also available at www.gov.uk/data-protection/the-data-protection-act
Should you wish to obtain a copy of the personal data we hold on you please write to the Finance Department, OSV Ltd Unit C2 Yeoman Gate, Yeoman Way BN13 3QZ. As soon as we are satisfied as to your identity we will send you, within 30 days, a copy of all the data we hold concerning you. Please contact us at the same address if you have any reason to believe the data we hold on you is inaccurate.
Like many websites, when you visit our website we issue a ‘cookie’ or unique code that allows us to identify your computer. We use the cookie to record where applicable, the website that referred you to our site and to note the different areas of our website recently accessed through your computer – it is only used in relation to our website and not in relation to any other websites you may visit. We may use the information collected in this way to tell you about services or products which might be of interest to you when you make further visits to this website.
By using our website, you may also receive certain third-party Cookies on your computer or device. Third-party Cookies are those placed by websites, services, and/or parties other than Us. Third-party Cookies are used on our website for advertising, chatbot, and analytics services.
All Cookies used by and on our website are used in accordance with current Cookie Law. We may use some or all of the following types of Cookie:
Strictly Necessary Cookies
A Cookie falls into this category if it is essential to the operation of our website, supporting functions such as logging in, your shopping basket, and payment transactions.
It is important for Us to understand how you use our website, for example, how efficiently you are able to navigate around it, and what features you use. Analytics Cookies enable us to gather this information, helping Us to improve Our Site and your experience of it.
Functionality Cookies enable Us to provide additional functions to you on our website such as personalisation and remembering your saved preferences. Some functionality Cookies may also be strictly necessary Cookies, but not all necessarily fall into that category.
It is important for Us to know when and how often you visit our website, and which parts of it you have used (including which pages you have visited and which links you have visited). As with analytics Cookies, this information helps us to better understand you and, in turn, to make Our Site and advertising more relevant to your interests.
Third-party Cookies are not placed by us; instead, they are placed by third parties that provide services to us and/or to you. Third-party Cookies may be used by advertising services to serve up tailored advertising to you on our website, or by third parties providing analytics services to us (these Cookies will work in the same way as analytics Cookies described above).
Any of the above types of Cookie may be a persistent Cookie. Persistent Cookies are those which remain on your computer or device for a predetermined period and are activated each time you visit our website.
Any of the above types of Cookie may be a session Cookie. Session Cookies are temporary and only remain on your computer or device from the point at which you visit our website until you close your browser. Session Cookies are deleted when you close your browser.
Calls to our offices may be recorded, this is for our protection and yours. Calls are used for training and monitoring purposes and may be used in the unlikely event of a complaint. OSV’s advisors can pause call recording when taking personal details over the phone such as your credit card details.
3. RIGHT TO INFORMATION
OSV shall ensure that all data subjects will benefit from the following rights:
Right to be informed – individuals have the right to be informed about the collection and use of their personal data. ‘Privacy information’ explaining how an individual’s data is processed, how long it is retained for and who it is shared with must be provided at the time data is collected, for example, on or in conjunction with, the sales and finance agreement. This information is usually known as a ‘Data Privacy Notice’ or DPN.
Right of access – individuals have the right to access their personal data and any supplementary information that is held or has been processed by an organisation. A reasonable fee can be charged only if the request is unfounded or excessive, otherwise, it must be provided free of charge without undue delay, within at least one month of the request being made.
Right to rectification – individuals have the right to have inaccurate personal data rectified, or completed if inaccurate. A request can be made verbally or in writing and must be responded to within one month. In certain circumstances, requests can be refused.
Right to erasure – individuals have a right to ask to have their personal data erased. This is known as the ‘right to be forgotten. A request can be made verbally or in writing and must be responded to within one month.
Right to restrict processing – Individuals have the right to request the restriction or suppression of their personal data. This allows for their data to be stored but not used. A request can be made verbally or in writing and must be responded to within one month.
Right to data portability – individuals have the right to obtain and reuse their personal data for their own purposes across different services. This allows them to move, copy or transfer personal data across IT platforms for convenience in a way that is portable and safe. This information must be provided free of charge, without undue delay, and within one month of being requested.
Right to object – individuals have the right to object to their personal data being processed for direct marketing purposes (including profiling). The right to object must be included in the initial privacy notice provided to the individual.
Rights related to automated decision-making and profiling – individuals have a right not to be subject to an automated decision-making process or profiling unless the decision is necessary for the entry into or performance of a contract. Since affordability and creditworthiness checks are a requirement for finance providers to undertake, individuals would not always be entitled to exercise this right where data is being used for a credit application.
RETENTION POLICY AND SECURITY OF PROCESSING
OSV shall implement technical and organisational measures to protect personal data against accidental or unlawful destruction, or accidental loss or alteration, and unauthorised disclosure or access (in particular where the process involves the transmission of personal data over a network) and against all other unlawful forms of processing.
OSV shall ensure a level of security appropriate to the risk represented by the process and nature of their personal data to be protected, having all due regard to the state of the art and costs measures.
Databases that contain sensitive personal data shall be protected by firewalls and access passwords.
OUTSOURCING TO A DATA PROCESSOR
Where personal data has been outsourced to a third party, such outsourcing shall be undertaken in line with a written agreement between OSV and the third party in question and shall specify the rights and obligation of each party and in particular, shall state that the third party shall have adequate security measures in place and shall only process personal data on the specific written instructions of OSV.
OSV shall not sell, rent, share, trade or disclose any personal data it keeps relating to a data subject to any other parties without the prior written consent of the relevant data subject, with the exception of companies within OSV and any suppliers with which OSV have engaged to provide services and are involved in the processing of personal data on OSV’s behalf.
Notwithstanding the above, OSV reserves the right to disclose personal data to the police, and relevant regulatory or other bodies, as required by law or regulation and in the event of the sale of its business (or part thereof) where it is necessary to do so in order to affect the sale of a data subject’s personal data in connection with such a business sale.
Unit C2 Yeoman Gate,
Tel: 01903 538835
E-mail: [email protected]
Office Opening Times:
Monday to Friday – 8.00 am to 5.30 pm
Saturday, Sunday and Bank Holidays – Closed