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.”
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.
Strong summer boosts business
The FSA says reading its guidance will save firms time and effort when preparing for regulatory changes.
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 […]
Financial advisers around the world face a new frontier of challenges, including increased fee pressures, tightening regulations, growing competition from automated advice platforms and continued market volatility. In order to better position themselves for business growth, advisers will need to assume three key roles. Click to download full article
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