Data Protection & Your Privacy
This Fair Processing Notice explains how Promise Solutions Ltd (trading as Promise Money) collects, uses, protects, and respects your personal data in accordance with UK Data Protection Laws and FCA regulations.
1. Who Are We?
Promise Solutions Ltd (“Promise”) is a financial services company dealing with enquiries from brokers and the general public. We also trade under the name Promise Money.
Promise Solutions Ltd, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG
Tel: 01902 585020 • Email: info@promisemoney.co.uk
Data Protection Officer: Mr Stephen Walker
2. Why Do We Need Your Data?
Contacts & General Enquiries
We hold basic information to be able to market our products and updates to you by email, letter, or telephone. We do not pass this contact data on to third parties.
Customers & Borrowers
We hold and process your data to assist you with obtaining loans, mortgages, and associated protection or products from our panel of providers (including personal first and second charge mortgages, commercial loans, and advisory services). We only collect the data necessary to arrange finance.
3. What Right Do We Have to Process Your Data? (Legal Basis)
Contacts — Legitimate Interests
This data is collected with your consent or was publicly available information indicating your interest in our products. We process this on the basis of “Legitimate Interests” to periodically update you. You can opt out of receiving updates at any time.
Customers — Legal Obligation & Contractual Necessity
Promise is regulated by the Financial Conduct Authority (FCA – www.fca.org.uk), meaning we are accountable for all products and advice provided. To provide comprehensive advice and satisfy statutory ID and credit-worthiness checks, we process customer data under the Information Commissioner’s Office (ICO – www.ico.org.uk) grounds of:
- Processing is necessary to meet our legal obligations (FCA compliance, record-keeping, anti-money laundering).
- Processing is necessary to fulfil our contractual obligations to you (including assessing ongoing suitability of products).
4. What Do We Do With Your Data?
All personal data we hold is processed by our staff based in the United Kingdom. ‘Personal Data’ is data that identifies you as an individual.
Your information may be stored on files and systems within our office and secure cloud-based systems whose servers are located within the European Economic Area (EEA).
5. Who May We Share Your Data With?
| Party Involved | Reason For Involvement |
|---|---|
| Lender Panel Providers | To assess applications, provide binding quotations, and underwrite the mortgage or loan. |
| Insurers on our Panel | To assess and provide quotations for insurance protection associated with your finance. |
| Property Valuers & Surveyors | To provide formal valuation reports determining whether the security property is suitable for lending. |
| Specialist Packaging Brokers | On rare occasions where specialized non-standard applications require bespoke niche packaging. |
| Your Legal Representatives | Accountants, solicitors, or conveyancers acting directly on your behalf to complete the transaction. |
| Your Broker, Introducer, or Affiliate | If you applied via an intermediary, we update them to satisfy joint regulatory and customer service duties. |
| Telephone & Telecom Providers | Telephone calls are securely recorded for quality assurance, staff training, and regulatory audit via cloud storage. |
| Cookies & Analytics | Small text files providing anonymous tracking data to improve web experience. Can be disabled at any time. |
| Third-Party Technology Providers | Sourcing software, secure email gateways, SMS platforms, web chat, and CRM processing tools. |
| Audit Consultants & Regulators | Statutory bodies (such as the FCA or ICO) and professional compliance auditors reviewing regulatory standards. |
6. What Type of Data Do We Ask For?
We ask for personal data (name, address, date of birth, contact details, financial commitments, and employment).
In order to assess affordability and ensure a loan or mortgage is suitable, we may also occasionally ask for special category / sensitive information (such as medical or health details where they directly impact future affordability or vulnerable customer protections).
7. Storage & Data Retention
As an FCA-regulated firm, Promise is required to retain full customer transaction records for a minimum of 6 years. We retain customer records on an indefinite basis to ensure we can retrieve historical evidence to support customer queries, claims, or regulatory investigations.
8. Credit Reference Agency Data (CRAIN)
To obtain an accurate picture of your financial profile, we search your credit file using credit reference agencies (CRAs). Any lender considering your loan will also perform searches and has its own Credit Reference Agency Information Notice (CRAIN).
We believe in absolute transparency: we will always seek your clear permission before performing credit checks that become necessary for your application.
9. Your Rights Under UK GDPR
You have statutory rights regarding how businesses handle your personal data:
10. Making a Complaint
We always aim to deliver outstanding service. If you have concerns over how your data is handled, complaints should be addressed in the first instance to our Data Protection Officer:
Promise Solutions — DPO
Attention: Data Protection Officer
Promise Solutions Ltd, 2nd Floor Fullard House,
Neachells Lane, Wolverhampton, WV11 3QG
Tel: 01902 585008 • Email: info@promisemoney.co.uk
Information Commissioner’s Office
If you remain dissatisfied, you can escalate to the UK Regulator:
ICO, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF
Tel: 0303 123 1113 • 01625 545 745
Website: www.ico.org.uk
Promise Solutions Ltd (trading as Promise Money) is registered in England and Wales (Company No: 04822774).
Authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 681423). Registered with the Information Commissioner’s Office (Registration Number: Z8661889).