Medifinance Limited Privacy Statement
This policy applies to information we hold about you. By ‘information’ we mean personal and financial information about you that we collect, use, share and store. Medifinance Limited may change this policy from time to time. You can request an updated statement by calling the telephone number below or viewing the relevant section of our website
Who We Are
Address: Hamilton House, Coat, Martock, Somerset, TA12 6AR
Telephone Number: 07785 757782
ICO Registration Number: Z9176762
Data Protection Officer: Ray Cox
For information on all the activities we’re licensed to carry out please visit:
Why we need customer information
We need to know your personal data in order to source for you the finance facility you require and process the submission of your application to an appropriate lender. If you do not provide this information, we will be unable to provide this service. We will not collect any information from you that we do not need in order to provide and oversee that service.
Our legal basis for processing your information
We collect your information to enable us to provide our service to you. We also use your information to carry out checks for security purposes, to prevent fraud and money laundering, to check your identity before we provide services to you, for training, and to communicate with you. We may use lender -automated processes in order to source a suitable lending option for you.
Data protection law allows us to use personal information for our genuine and legitimate reasons as long as we respect your rights and freedoms. This lawful basis for using your information is called ‘legitimate interests’. When we rely on our legitimate interests as the legal basis for processing your personal information for the purposes set out above, we will carefully consider and balance any possible effect this may have on you and your rights.
What we will do with customers’ information
All the personal data we hold about you will be processed by our staff and systems in the United Kingdom. Your information may be passed to third parties, where required, to provide the services you have applied for, as well as where there is a legal obligation for us to provide third parties with this information e.g. The FCA or law enforcement agencies, to prevent, detect, investigate and prosecute fraud and alleged fraud, money laundering and other crimes, and to confirm your identity.
We will use your data to process your application for the services provided by Medifinance Limited, this processing will include some or all of the below:
Automated decision making
- Our lenders may use automatic decisions as part of our process; some of the finance companies that we may refer your application to may also use automated decision-making processes.
- This will involve automatically requesting information from CRAs and using this data along with the other data provided to assess your suitability for the goods/services requested.
To request a manual review of your application, please contact the Data Protection Officer at Medifinance Limited.
Credit Reference Agency searches, to generate credit searches
- External lenders/Funders on our panel will search your record at credit reference agencies. Searches made by external lenders on our panel may show depending on the type of search they use.
- If you are an owner, director or partner in a business, we may also check on your business. We will also check on any proposed guarantor, so you must have their permission to disclose their information.
- If you enter into an agreement with one of the external lenders on our panel, information on this agreement will be passed to the CRAs. Information remains on file for 6 years after the account is closed.
Passing to Finance Companies to assess and/or underwrite your application.
- Your application may be passed to more than one finance company in order for us to obtain the most appropriate and suitable offer to your personal circumstances.
- Suitable lenders are identified by either one or both of:
- Proprietary Credit Scoring and Analysis technology
- Manual underwriters reviewing applications
- To view a full list of our panel of lending companies, please contact the Data Protection Officer. Your application may be sent to a selection of lenders on this list. Lender selection is based on a large number of criteria including but not limited to; information on credit files, proposal and affordability data.
After Transaction Processing
- To handle enquiries and complaints, where it's in our legitimate interests to make sure that complaints are investigated, for example, so that our customers receive a high standard of service and so that we can prevent future complaints;
- To contact you in the future to offer alternative finance options that may become available in the future, for example at the end of an existing fixed rate period.
Who the customers data will be shared with
For a full list of organisations with whom we may share your data, please email the Data Protection Officer at Medifinance Limited. We will only be able to provide this data once your transaction has been completed.
Once Medifinance Limited finds a suitable lender that meets your needs, we become a Data Processor and the lender becomes the Data Controller. A copy of the recommended lenders privacy statement will be available to you from the lender.
Sometimes we need to share the personal information we process with the individual themselves and also with other organisations. Where this is necessary, we are required to comply with all aspects of the Data Protection Act (1998) and the General Data Protection Regulation (2018)
We are a credit broker and not a lender. We will pass your personal information to lenders on our panel to arrange finance in accordance to your requirements.
For more detail on which finance companies are on our panel, please contact the Data Protection Officer
We will not pass your data to other third parties that do not offer our products or services.
Whether the data will be sent overseas
Medifinance Limited will never send customer data outside the EEA.
How long we and other organisations will keep the data
We will keep your information for as long as is needed for the purposes set out above or as required by any laws that apply.
If we are unable to provide you with a suitable finance option, or you decide not to go ahead with your application, we’ll still keep your information.
As a customer of Medifinance Limited you have the following rights related to your data and how it’s processed:
- The right to be informed – this means we must provide, at the point of collecting your data, a written or verbal privacy notice informing you of how your personal information will be used.
- The right to access your personal information – this means that you have the right to know what information we hold on you, and to request a copy of it. This information is provided free of charge.
- The right to get inaccurately recorded information corrected.
- The right to erasure – this means that you can request that your personal data is deleted from our records, also referred to as ‘the right to be forgotten’.
- The right to restrict how your personal information is used – this means that you have the right to object to how we use your personal information, including for direct marketing purposes.
- The right to receive your personal information in a legible and transferable format.
- The right to object to the use of your personal information
- Rights related to automated decision-making including profiling – this means you have the right to refuse to your personal information being used to make a decision based on an automatic process without human intervention
For further information on how to action any of these rights please contact the Data Protection Officer at the address on this statement.
How customers make a complaint
Should you wish to make a complaint, you can do so by:
- Letter - Hamilton House, Coat, Martock, Somerset, TA12 6AR
- Telephone - 07785 757782
If we do not handle your complaint to your satisfaction within 8 weeks, you have the right of referral to the ICO who act as the data protection arbitrator.
Details of how to contact the ICO are at this web address https://ico.org.uk/global/contact-us/
What we do to keep customers data secure
We are committed to ensuring that your information is secure. In order to prevent unauthorised access or disclosure we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect.
Medifinance Limited Status Disclosure
Who are we?
Medifinance Limited as a credit broker in arranging finance for the professions medical industry, we also operate under the following trading styles:
- Commercial and Corporate Finance
- Marine and Aviation Finance International
- Professions Business Finance
We are an independent credit broker and have access to the full range of unsecured finance in the industry.
Our registered office for companies house is 2 Manor Farm Court, Old Wolverton Road, Milton Meynes, MK12 5NN. Company registration no. 04792968, our trading address is Hamilton House, Coat, Martock, Somerset, TA12 6AR
Are we authorised to arrange finance for you?
We are authorised and regulated for credit-broking activities by the Financial Conduct Authority. We are not a lender. Our FCA Firm Reference Number is FRN 675486. For more information, please visit the FCA website at: https://register.fca.org.uk/ Please note that business customers may not be protected under the Consumer Credit Act 1974 or FCA rules.
We have the following FCA permissions:
- Consumer Credit
- Other Activities
What can we do to help finance?
We can introduce you, whether direct or through a specialist credit broker who may be able to finance your transaction. We work with a number of lenders in the finance market, if you require details of the lenders we use, please ask for more details.
We will provide you with information and explanations about the finance products that may be available to you and, where we recommend a product to you, we will ensure that this is based on the information you provide to us about your needs and circumstances so that it is suitable for you. Finance is arranged subject to status and terms and conditions. We cannot guarantee that we will be able to secure finance for you but will we keep you informed throughout the process.
Can we give you independent financial advice?
We are not independent financial advisers and so are unable to provide you with independent financial advice.
Do you have to pay for our service?
No, you make no payment but a funder or broker we work with may pay us for introducing you to them. Different funders/brokers may pay us different commission amounts. We will tell you how much we will be paid if you ask
How will we use your information?
We will use your information to obtain quotes from funders and brokers to process finance applications through them and we and/or they may also conduct a search of your record held with one or more credit reference agencies. Credit checks may as a result appear on your credit file lodged by organisations with whom you have not dealt directly. The personal information collected will also be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment.
We are registered as a data controller with the Information Commissioner’s Office under registration number Z9176762.
What can you do if you wish to complain about our services or contact us?
If you wish to make a complaint, please see the complaints procedure notice on our website, if you are applying for finance a copy will be provided to you.
If, after making a complaint to us you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service (details on the complaint procedure) Please note that FOS may not be able to deal with complaints from business customers.
Further details about our complaints procedure and FOS are available on request and can be found on our website.
You may be assured that we and any company associated with us will treat all personal data and sensitive personal data as confidential and will not process It other than for a legitimate purpose. Steps will be taken to ensure that the Information is accurate, kept up to date and not kept for longer than is necessary. Measures will also be taken to safeguardagainst unauthorised or unlawful processing and accidental loss or destruction or damage to the data.
Subject to certain exceptions, you are entitled to have access to your personal and sensitive personal data held by US. You may be charged a fee (subject to the statutory maximum) for supplying you with such data.
We Intend to rely on this document for the services we provide to you and request that you provide your agreement to the Charges and Data Protection sections above.
For your own benefit and protection, you should read these terms carefully.
If you do not understand any point, please ask for further Information.