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Personal Touch News

Welcome to your February edition of Personal Column!

Remember that we’ll continue to share key new stories on our social media accounts every week!

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How should you be preparing for GDPR?

It was good to talk to so many of you about GDPR at Personal Touch LIVE. These discussions will help to shape the way we keep you updated on what needs to be done for you to be GDPR compliant.

One of the questions we were asked a lot was “What do I actually have to do to be GDPR compliant?”

We’ll be sending out a communication to principals every two weeks up until 25 May. These will help you identify what needs to be done to ensure you’re GDPR ready.

Here are the top 10 things you should be doing now:

  1. Make a list of what personal information you currently hold.
  2. Think about what activities are associated with this data. For example, completing a fact-find, verifying income, identifying potential vulnerabilities.
  3. Write a list of any threats associated with this data. This could include threats such as identity theft, fraud, breach of confidentiality and reputational risk.
  4. Consider what you can do to proactively address these risks. For example, encryption, password protection and effective staff training.
  5. List where you store data; for example Toolbox, e-mails, Local Drive on a PC / laptop.
  6. Note whose personal data information you hold.
  7. Think about what the data relates to.
  8. Consider on what basis, under GDPR, will you be processing the data? See ‘Basis for Processing’ on the Business Development Suite.
  9. List all third party suppliers; for example estate agents, solicitors.
  10. Review your contracts with third party suppliers to ensure they have the appropriate permissions to pass data / information to you.


Once you have gathered this information, you should have a better idea of where any risks exist. This will enable you to adapt your processes accordingly.

Process Documentation
Even if you work alone, it’s recommended that you document what your processes are in relation to GDPR. In doing so, you can demonstrate, if asked, that you’re following an agreed process.

Your advice process is covered off by the compliance manual. Chapter 3 and ‘Data Protection’ is being updated to reflect the changes and will be launched ahead of the May deadline.

We’re suggesting that you document how you deal with data that falls outside of the sales process. The documented process may have the following headings:

  • General principles – privacy by design being at the heart of all processes related to personal data, be it stored electronically or on paper.
  • Personal data – proactive removal of personal data no longer required. See the Self-Assessment Matrix on the Business Development Suite.
  • Deletion of data (outside of Toolbox) – why, when and how data will be deleted, if it’s no longer required.
  • E-mails – storage and deletion.

Support for you
The self-assessment data matrix and a GDPR checklist are available in the Business Development Suite. This will help to support you in taking steps towards complying with GDPR.

Re-live Personal Touch LIVE 2018

Thank you to everyone who attended Personal Touch LIVE 2018! It was fantastic to see so many of you and the event was a great success.

We’ve created a supplement, so that you can re-live Personal Touch LIVE:

+ View the seminar topics

+ See who made the Financial Excellence Awards shortlist

+ Find out who won Financial Excellence Awards

Download the supplement here!

Spring regional Workshops

If you haven’t already secured your place at our Spring Regional Workshops, register here!

Finance News 

Old £10 notes out, new 10p coins in

Bank of England paper £10 notes are being accepted in shops for a final day before being officially withdrawn.

The Charles Darwin notes have been gradually replaced by the polymer Jane Austen note since September.

From Friday, anyone with the banknote will need to deposit it at their bank as shops will be entitled to refuse it.

At the same time, a collection of new 10p coins featuring 26 designs celebrating Britain – from cricket to queuing – are entering circulation.

Read the full article here

Source: BBC News 1st March 2018

The article is now available to share on social media:

Old Charles Darwin paper £10 notes out, new 10p coins in

Mortgage News

Precise Mortgages launch online criteria guide

Are you one of the thousand brokers that has already used Precise Mortgages’ new searchable online criteria guide?

  • It covers buy to let and residential criteria for mortgages and second charge loans
  • Provides simple and informative, fully searchable content
  • Includes refreshed downloadable buy to let and residential mortgage criteria guides
  • Is mobile and tablet friendly

Click here to try it now.

Alternatively, to discuss a case please click here to find your BDM’s contact details.

Source: Precise Mortgages Newsletter February 2018


Giving your first time buyers more borrowing power



Bank of Ireland UK has increased the procuration fee on its affordability boosting mortgage, First Start, from 0.4% to 0.5%.

It’s also improved its First Start range with 85% LTV rates now starting at 2.24% and 95% LTV beginning at 4.09%.

The product considers the applicant’s and a sponsor’s income together, boosting the overall amount that can be borrowed.

The co-borrowers can borrow up to 95% of the value of purchase property on a repayment basis, up to £500,000. They are both jointly and individually liable for the loan and repayments.

Alison Pallett, director of sales, Bank of Ireland UK, said the bank understands the challenges that borrowers face and has been listening to brokers.

“We understand the product application takes more time as contact is needed with both the borrower and the sponsor and agree this should be compensated for.”

Find out more about First Start

Source: Bank of Ireland Newsletter February 2018

General Insurance News

Underinsurance in Numbers

This month, our area of focus is Underinsurance. As part of our #QualityMattersMost campaign, we’re using February to raise awareness of the risk Underinsurance poses, how to fight back against it and why quality cover is so important.

To help you have conversations with your clients on just how dangerous Underinsurance is, we’ve created a handy PDF which highlights a number of key statistics. You can download and print this out by clicking the image below – feel free to share this with your clients too:

Remember that with a Uinsure Home Insurance policy, your clients will be comprehensively covered against the risk of Underinsurance – as our contents cover limit is £75,000 as standard.

For more information on Uinsure 5 Star Defaqto Rated, award-winning Home Insurance, visit or give them a call on 0344 844 3844.

Source: Uinsure Newsletter January 2018

And Finally… 

How does your household spend compared to the UK avarage?

 The ‘cost of living’ is a phrase that’s rarely out of the news, and increasing bills and prices in the shops appear to back up the claims that our household spending is on the rise.

Click here to read the full article

Source: The Money Advice Service 15th February 2018

The article is now available to share on social media:

How does your household spend compare to the UK average?