Research from Mortgages PLC reveals an increase in the level of non-compliant mortgage advertising during the year.A detailed review of advertising in consumer mortgage magazines was carried out in April and September. In April, 24% of advertising was found to be non-compliant with the most common issues being the continued use of outdated Consumer Credit Act risk warnings, APRs not being quoted and advertising for adverse credit mortgages not including Financial Services Authority prescribed risk warnings. When the research was repeated in September the level of non-compliant advertising had increased to 31%. The most common issue was adverts not including an APR when one was required. One still carried an old CCA risk warning. But Peter Beaumont, sales and marketing director at MPLC, says all is not doom and gloom. He says: “At first sight, these results indicate that financial advertising is getting worse but the picture is not that bad when you analyse underlying trends. Most of the issues identified in our April research have been sorted out and, though one advert did carry an old risk warning, all adverse credit advertising carried the prescribed FSA wording. “APRs are still a problem and advertisers are also failing to give the same prominence to prescribed wording as they do to promotional wording.” MPLC also confirms that firms are moving away from lead generation focussed advertising in favour of brand lead advertising. It is believed this is a result of falling response rates from traditional advertising and lenders giving online promotional activity greater prominence in their marketing schedules.
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Dear Delia I am advising a couple both aged 62 who plan to carry on working until 65. They have a mortgage that is due to be repaid in three years. But they have a shortfall on their endowment policy and have no other liquid assets which means it is likely they will struggle to repay it. They would like to enjoy their retirement without financial problems. What can they do to improve their situation?
Mortgages PLC is announcing a number of enhancements to its product range as part of a winter special promotional campaign. The enhancements include rate reductions of up to 0.5% and a number of changes to criteria and underwriting processes.The winter special includes all three-year fixed rate mortgages reduced by 0.5%, all two-year fixed rate mortgages […]
Norwich and Peterborough and Scottish Widows have become the latest lenders to accept mortgage business electronically via the Mortgage Trading Exchange. The two lenders, responsible for about 70% of all mortgage business in the UK, are now live on the MTE.Following the recent launch of the MTE standalone every introducer in the UK is now […]
ASC Finance for Business and Abbey have launched an exclusive commercial remortgage deal.ASC is offering an exclusive commercial remortgage deal where the transaction costs are not payable. The product has low transaction costs and an absolute bonus for the client.Henry Ejdelbaum, managing director at ASC Partnership, says: “We are delighted to be able to offer […]
In 2016, Cormac Weldon expects the economy in the US to favour selected smaller companies in housing, airlines and technology.
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