Cumbria Asset Finance - Legal

Data Protection and Money Laundering - Uses of Customer Information

We act as brokers in obtaining finance on behalf of our clients and as such will need to obtain, retain and remit to prospective lenders personal details of individual, sole traders, partners in a business and directors of companies. Such information will be used by us for the sole purpose of obtaining finance for our clients. Please ensure that you read the following information with care before signing and returning this document to us.

• The information that you provide to us will be disclosed to Finance Companies for the purpose of considering an application for finance.
  
• Some of the Finance Companies will use a process known as credit scoring. Declines based on this automated technique can be reviewed manually on request.
  
• The Finance Companies will use this information to carry out searches with credit reference agencies. A record of these searches will be kept and may be used by other lenders in assessing applications from you and members of your household for credit in the future. Other lenders will check this information with fraud prevention agencies to prevent fraud.
  
• When an application is received from a business, information may be sought from credit reference agencies on the company directors and/or partners as individuals.
  
• These agencies will add details of the Finance Company's search and add your application to the record they hold on you, whether or not the application proceeds.
  
• The Finance Companies may use this information for marketing (by post, telephone, email or fax) subject to the conditions of the Data Protection Act. If you do not wish these details to be used for marketing purposes then please advise us in writing.
  
• If this is a joint application, you must be entitled to disclose information about your co-applicant and/or anyone else referred to by you, and to authorise the Finance Companies to search and/or record information at Credit Reference Agencies about both of you. An "Association" will be created at the Credit Reference Agencies, which will link the financial records of both applicants.
  
• We will advise you of all Finance Companies that we wish to approach before making any application on your behalf.
  
• You have the right to receive copies of any personal information that we hold subject to an application in writing and the payment of a fee.
  
• To comply with Money Laundering Regulations, when an application is received from an individual or a business, the Finance Company will seek information from credit reference agencies on the individual, company directors and/or partners as individuals. The Credit Reference Agencies will provide information from the Electoral Register. These Agencies will also supply the Finance Companies with Credit information and other information which the Finance Companies will use in assessment of your application.