Watchdog warning to 'misleading' comparison websites

[Legal Beagles]

FSA says some sites could be misleading consumers with information that is incorrect or out of date

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[argentarius]

Re: Watchdog warning to 'misleading' comparison websites

This is oh so true.

Just look at this rubbish. The same company send mailings via a great variety of marketing networks.

http://images.beatthatquote.com/_ec/...ans_box_03.gif

The thing which is worst about this is that the items are not listed in "typical rate" order, but in the order of a spurious rate which therefore shows Zopa first.

Presumably Zopa are paying them a premium to be listed first?

And when you go to the Zopa site, the rate shown for the loan which supposedly costs 5.5% (a very atypical £15,000 repayable over 12 months, for top credit-rated customers) actually costs 7.2%.

Incidentally, the entire way that Zopa advertise "typical" rates is a scam. Whereas other lenders have to offer "typical" rates to 66% of applicants, Zopa cunningly divide their customers up into 4 different credit-risk categories so they can then offer different "typical" rates for each. Obviously, you don't know which band you fall into until you apply, by which time you've been credit-scored and a credit footprint is left.

[Legal Beagles]

FSA orders price comparison sites to provide accurate information

The Financial Services Authority has ordered insurance price comparison websites to overhaul their systems after identifying a string of failings that could mislead customers.


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