Your personal information will be held securely by LiveLend, which is a trading name of Chetwood Financial Limited, company number 09964966 of Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT. Chetwood Financial Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 740551.
Authorisation can be checked on the Financial Services Register at www.fca.org.uk. In this policy, LiveLend, we, us and our, refers to Chetwood Financial Limited.
We’ll collect personal information about you and the way you use our website when you apply for a loan. The ways in which we may use your personal information are described below.
LiveLend is the data controller (this means an organisation who determines the purposes and manner in which any personal data is processed) of your information under data protection laws because, in the context of our business relationship with you, we decide how and why it is processed in the ways explained in this policy. We’re registered with the Information Commissioner’s Office under registration ZA218401.
To contact our Data Protection Officer, to find out more about how we process your personal data or exercise any of your rights (see below), get in touch.
We’ll collect your personal information in different ways depending on how you choose to apply for our loan. Please see below.
We also collect personal data from other third parties such as Credit Reference Agencies (CRAs) and Fraud Prevention Agencies (FPAs).
We’ll collect some or all of the following information about you:
Data protection laws require us to explain what legal grounds justify us using your personal information (this includes sharing it with other organisations). The laws refer to “processing” of information which includes everything we do with your personal information from its collection, right through to its destruction or deletion when we no longer need it. For some processing, more than one legal ground may be relevant (except where we rely on a consent).
Here are the legal grounds that are relevant to us:
Contractual obligationWhere processing of your personal data is necessary for us to perform our contract with you or for taking steps before entering into the contract.
ConsentWhere processing of your personal data requires us to obtain your clear consent.
Legal obligationWhere processing of your personal data is necessary for us to comply with laws we abide by.
Legitimate interestsWhere processing your personal data is necessary for your individual legitimate interests or the legitimate interests of a third party including their commercial interest or the broader interests of society.
Vital interestsWhere processing of your personal data is necessary to protect someone’s vital interests including protecting someone’s life.
In order to process your application, we’ll perform credit and identity checks on you with one or more credit reference agencies (CRAs).
CRAs collect and maintain information about customers’ and businesses’ credit behaviour.
CRAs use information from:
LiveLend uses soft searches, also known as ‘quotation searches’, to work out whether you’re approved for our loans. We’ll only register a full search once you’ve set up your Direct Debit and given us permission to do so. When CRAs receive a full search from us they will place a search footprint on your credit file that may be seen by other lenders.
When we carry out a full credit search on you when you apply for a loan, FPAs (see the section on FPAs below) will keep a log of the searches that we’ve carried out.
We’ll also inform the CRAs about your settled accounts. If you borrow and don’t repay in full and on time, CRAs will record any outstanding debt and they may share this information with other organisations.
This is explained in more detail by following the links below:
The personal information we’ve collected from you will be shared with fraud prevention agencies who will use it to:
If fraud is detected, you could be refused certain services, finance, or employment.
Further details on how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found by following the links below:
We’ll continue to exchange information about you with CRAs and FPAs while you have a relationship with us.
We’ll use this information to:
When you apply for credit, an automated system known as credit scoring may be used to decide if we can approve your loan. It’s a system widely used by credit providers to help make fair and informed decisions on lending.
Credit scoring takes account of information from three sources:
A credit scoring system helps us lend responsibly as it considers information from these sources, to make an overall assessment of your application.
You have the right to ask that the decision is not made based solely using a credit scoring system.
This means any listening to, recording of, viewing of, intercepting of, or taking and keeping records (as the case may be) of calls, email, text messages, social media messages and other communications.
Some of our monitoring may be to do the following:
We’re based in the UK and will generally store your personal information in the UK & Republic of Ireland, but we may transfer your personal information abroad.
If your information is processed within the EEA it is protected by European data protection standards. If your information is transferred outside the EEA, we’ll make sure that suitable safeguards are in place before we transfer the information.
Unless we explain otherwise to you, we’ll hold your personal information from the end of your relationship with us for the following periods and reasons:
If you apply unsuccessfully for a product, we’ll hold your personal information only for as long as is necessary to deal with any queries you may have.
Here are your rights under data protection laws. There may be reasons why you can’t exercise your rights, but we’ll always tell you if this is the case and explain in more detail when your request is made.
If you want to contact us to exercise these rights, get in touch with us on our website.
If you wish to exercise any of these rights against the CRAs, FPAs, or an intermediary, you’ll need to contact them directly as they’re data controllers in their own right.
Get in touch with us as soon as possible if your information changes so we can update our records.
If you opt in to receive our marketing communications, we’ll use your personal information to contact you and provide you with product details and offers that are relevant to you.
You can change your preferences at any time by updating them online at livelend.co.
When you visit our website, regardless of whether you log in or not, our web servers automatically take note of your domain name, IP address and details about your device. These details reveal nothing personal about you. We use this information to investigate abuse of our website and its users, and to co-operate with law enforcement. We also share this information with third parties.
If you’re not happy with any aspect of the way that we process your information or fulfil our obligations, you have the right to complain to the Information Commissioner’s Office who enforce data protection laws. They can be found at: https://ico.org.uk/.
You can repay your loan balance early, in part (referred to as an overpayment) or in full (referred to as early settlement, or closing your loan early). If you wish to do this, you should log into your account at livelend.co. We accept the following cards for payments:
We use GoCardless to process your direct debit payments. More information on how GoCardless processes your personal data and your rights can be found at: https://gocardless.com/legal/privacy.
We don’t offer refunds but you can withdraw from your loan agreement by logging into your account at livelend.co and closing your loan. To do this, you must log in and click on ‘Manage’ and then ‘Calculate my settlement’ to request a settlement quote.