View more on these topics

Boulger blast for loan ads

John Charcol senior technical director Ray Boulger has accused Nationwide, Britannia and HSBC of misleading customers with their use of price comparisons in ad campaigns.

The three lenders have all run price comparison-focused campaigns but Boulger says none provided sufficient information for consumers to make a true comparison.

Nationwide’s home page states its two-year fix is chea-per than three of its rivals and states by how much, yet further information is only available in small print on a linked page.

An HSBC press ad, recently removed, compared its rates with three lenders but has also been criticised for not providing enough data.

One Britannia press ad for its three-year fix says its homeloan is a “best buy” but without explanation. The phrase best buy also has stars around it which makes it look like an award-winning mortgage.

Boulger says: “There are lots of features not pointed out in these adverts which means they are not clear, fair and not misleading. It is virtually impossible to include complete inform- ation and I thought they would disappear after regulation.”

An HSBC spokeswoman says: “We make sure there is as much information as possible.”

A Nationwide spokeswoman says: “This is a fair comparison.”

A Britannia spokeswoman says: “We were top of one best- buy table when that ad ran.”

Recommended

ING offering fixed and flexible deals

ING Direct has entered the mortgage market this week with a fixed rate and a flexible rate . The products are not yet available through intermediaries but ING has started consulting about how best to work with brokers.

Ehrmann’s Jupiter China fund to target growth in domestic demand.

Jupiter China fund manager Philip Ehrmann believes the key to successful capital growth for the fund will come through China successfully developing domestic demand.Jupiter will launch the China fund on October 20 and Ehrmann believes huge opportunities exist for investors in the country as the economy broadens out and becomes less reliant on exports and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com