The mortgage advisory firm, which provides fees-free advice via email, says that the headline rates included in best buy tables can leave home owners with a false impression as to what products can actually deliver.
Email Mortgages wants best buy tables to be scrapped and instead more attention to be given to the need for professional mortgage advice.
Michael White, chief executive of Email Mortgages, says: “We can guarantee that, for the vast majority of consumers, the products detailed in the best buys are wholly irrelevant and they will have little chance of securing these headline grabbing rates because of the products’ criteria.
“In our opinion the best buys do more harm than good in that they provide the consumer with unrealistic expectations of the mortgage they will be able to secure.”
White also argues that the pace at which product availability changes means that best buy tables can be out of date by the time they make it to print.
He adds: “Best buy tables in today’s market are obsolete and we would urge all consumers to take them with a large pinch of salt.”