Privacy policy

Introduction

Welcome to The Fractions Ltd t/a Prefinance.co.uk ("we," "our," "us"). We are committed to protecting and respecting your privacy. This policy explains how we collect, use, disclose, and safeguard your information when you visit our website Prefinance.co.uk (the "Site"). Please read this privacy policy carefully. If you do not agree with the terms of this privacy policy, please do not access the Site.

Information We Collect

Personal Data

While using our Site, we may ask you to provide us with certain personally identifiable information that can be used to contact or identify you. Personally identifiable information may include, but is not limited to:

  • Email address
  • First name and last name
  • Phone number
  • Address, County, Postal code, City
  • Usage Data

Usage Data

Usage Data is collected automatically when using the Site. Usage Data may include information such as your device's Internet Protocol address (e.g., IP address), browser type, browser version, the pages of our Site that you visit, the time and date of your visit, the time spent on those pages, unique device identifiers, and other diagnostic data.

Usage data will be limited if you decline the use of cookies as defined in our cookie policy.

How We Use Your Information

Our role

We are an Introducer Authorised Representative of multiple finance brokers. For more information, please contact enquiries@prefinance.co.uk.

This means we are limited to:

  • Effecting introductions (your finance application)
  • Non real-time financial promotions.

We use the information we collect in the following ways:

Performance of a Contract

  • To provide and maintain our Service
  • To manage your account: to manage your registration as a user of the Service. The Personal Data you provide can give you access to different functionalities of the Service that are available to you as a registered user.
  • For the performance of a contract: the development, compliance, and undertaking of the purchase contract for the products, items, or services you have purchased or any other contract with us through the Service.

Legitimate Interest

  • To manage and respond to your queries, complaints, or requests.
  • To improve the Site and our services by analysing how you use our Site.
  • To send you marketing communications about products and services which we think may interest you. You can opt out at any time. This is applicable for a period of up to 3 months from your last customer action.

Consent

  • We will only send you marketing communications about third-party products and services which we think may interest you if we have your consent. You can opt out at any time.

Legal Basis for Processing Personal Data under UK GDPR

If you are from the United Kingdom, The Fractions Ltd t/a Prefinance.co.uk legal basis for collecting and using the personal information described in this Privacy Policy depends on the Personal Data we collect and the specific context in which we collect it.

The Fractions Ltd t/a Prefinance.co.uk may process your Personal Data because:

  • We need to perform a contract with you
  • You have given us permission to do so
  • The processing is in our legitimate interests and it's not overridden by your rights
  • For payment processing purposes
  • To comply with the law

Retention of Your Personal Data

The Fractions Ltd t/a Prefinance.co.uk will retain your Personal Data only for as long as is necessary for the purposes set out in this Privacy Policy. We will retain and use your Personal Data to the extent necessary to comply with our legal obligations (for example, if we are required to retain your data to comply with applicable laws), resolve disputes, and enforce our legal agreements and policies.

Disclosure of Your Personal Data

We may share your personal information in the following situations:

  • With Service Providers: We may share your personal information with Service Providers to monitor and analyse the use of our Service, to contact you.
  • When you apply for car finance you will be accepting the privacy policy of the car finance broker or lender. We may share your application with multiple lenders to gain the best decision for you.
  • For Business transfers: We may share or transfer your personal information in connection with, or during negotiations of, any merger, sale of company assets, financing, or acquisition of all or a portion of our business to another company.
  • With Affiliates: We may share a limited view of your information with our affiliates for the purpose of tracking the volume and performance of their introductios, in which case we will require those affiliates to honour this Privacy Policy.

Automated Processing for Credit Scoring

When you apply for finance the provider will use automated processing for credit scoring as part of their assessment process for providing certain services. Automated credit scoring involves the analysis of your credit information and other relevant data to make decisions about your creditworthiness. This process helps to provide accurate and fair credit assessments quickly.

How Automated Credit Scoring Works

Automated credit scoring analyses various data points, including:

  • Credit history and credit reports from credit reference agencies
  • Financial information provided by you during the application process
  • Publicly available information about your financial behaviour

Legal Basis for Automated Processing

We use automated credit scoring based on the following legal bases:

  • Performance of a contract: Automated processing is necessary for us to enter into or perform a contract with you.
  • Legitimate interest: We have a legitimate interest in ensuring we provide credit services responsibly and fairly.

Your Rights Regarding Automated Processing

You have certain rights regarding automated decision-making and profiling:

  • The right to obtain human intervention: You can request that a person reviews the automated decision if you disagree with the outcome.
  • The right to express your point of view: You can provide additional information or context that may affect the automated decision.
  • The right to contest the decision: You can challenge the automated decision if you believe it to be incorrect or unfair.

If you have any questions or concerns about our use of automated processing for credit scoring, please contact us using the contact details provided below.

Your Data Protection Rights under UK GDPR

If you are a resident of the United Kingdom, you have certain data protection rights. The Fractions Ltd t/a Prefinance.co.uk aims to take reasonable steps to allow you to correct, amend, delete, or limit the use of your Personal Data.

If you wish to be informed about what Personal Data we hold about you and if you want it to be removed from our systems, please contact us.

In certain circumstances, you have the following data protection rights:

  • The right to access, update, or delete the information we have on you.
  • The right of rectification. You have the right to have your information rectified if that information is inaccurate or incomplete.
  • The right to object. You have the right to object to our processing of your Personal Data.
  • The right of restriction. You have the right to request that we restrict the processing of your personal information.
  • The right to data portability. You have the right to be provided with a copy of your Personal Data in a structured, machine-readable, and commonly used format.
  • The right to withdraw consent. You also have the right to withdraw your consent at any time where The Fractions Ltd t/a Prefinance.co.uk relied on your consent to process your personal information.

Contact Us

If you have any questions about this Privacy Policy, please contact us: