Lincolnshire mortgage broker fined £50,000

Lincolnshire mortgage broker fined £50,000

The Information Commissioner’s Office (ICO) has fined OSL Financial Consultancy Limited (OSL) in Lincolnshire £50,000 for illegally sending over 174,000 nuisance marketing texts.

The offences happened between March and June 2020, as the company sought to take advantage of the coronavirus pandemic.

The nuisance text messages related to the drop in Buy to Let mortgage interest rates, with the company proclaiming their innocence that they did indeed have consent.

During the ICO’s investigation it discovered that OSL had gathered personal data from members of the public who had contacted them via their website. As the people were unable to grant consent for marketing purposes, the ICO found that the offences were committed under the electronic marketing law.

Natasha Longson, ICO Investigations Group Manager, said:

“The rules about electronic marketing are simple and clear. Consent must be freely given and it must not be a condition of receiving service.

“Nuisance texts, calls and emails are an unwanted and annoying intrusion into people’s lives and we will continue to take action against those that do not comply with the law.”

More information about the ICO and how to contact them can be found here.

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