Is this a scam??

poonum

Has anyone seen this advertised by Penny Sleuth - "Shortcut guide to killing your mortgage dead in 7 years or less"?? here's the link:
http://www.fsponline-recommends.co.uk/page.aspx?u=sccmor3&tc=EPFCD816&PromotionID=2147065748&u=596709&g=0&o=27792&l=159157&

My husband is thinking of signing up but it seems too good to be true - does anyone know anything about this??

Thanks

Bf109

That certainly does look like a scam. The only way to pay off yor mortgage is to pay it off. End of story.

happybroker

who wouldn't trust a letter from an "editor" who uses the phrase "has shrank.."!!!

scam scam scam, but then being a "so called expert" who takes my clients "for a ride" I would say that

sdooley

You can get a Japanese Yen or Swiss Franc mortgage at low rates. If you'd had one for the last 6 months though you'd actually owe about 50% more than you did then (because of the slump in the value of the pound). Very high risk but some people are prepared to take it.

dunstonh

Look at the way its written. Its complete bull. If the individual was FSA authorised he would be ripped to shreds by them.

Almost certainly it involves switching the mortgage to a different currency with a much lower interest rate. However, the bit he doesn't tell you is that if the currency exchange rate goes the wrong way you could end up owing twice as much as before in sterling equivalent. As was the case quite recently where people doing this lost a large amount.

The article plays to typical negative stereotypes. i.e. your IFA wont tell you this... blah bah. That rubbish plays well to those with negative attitudes and they are more likely to fall for this sort of scam. The grammar for a book editor is awful as well.

Well, the reason your IFA wont tell you that is because its high risk and unregulated (meaning you have no consumer protection). Its not meant for the average consumer.

_Andy_

My favourite part is the bottom of the page -

"[FONT=Arial, Helvetica, sans-serif]Please send me my 2 FREE back issues, my FREE report, my FREE book and sign me up for my FREE daily email service.
Best price offer - Direct Debit £29 a year"
[/FONT][URL="javascript:__doPostBack('dgURLs$_ctl2$Linkbutton2','')"][/URL]

Ian_Griffiths_Halifax

_Andy_ wrote: »

My favourite part is the bottom of the page -

"[FONT=Arial, Helvetica, sans-serif]Please send me my 2 FREE back issues, my FREE report, my FREE book and sign me up for my FREE daily email service.[/FONT]
[FONT=Arial, Helvetica, sans-serif]Best price offer - Direct Debit £29 a year"[/FONT]

got to be the best Free offer yet :rotfl:

POSSETTE

dont do it...it just telling you how to get a product and start selling it, how to put money in shares etc..you need money to start with...if you have a 100k mortgage and want to pay it off in 5 yearsthen you have to have at least 20k spare a year to pay it..thats without interest...i dont see how you can pay a mortgage off in 3-5 years if you dont have the income in first place??

tell dearest hubby to stop being gullible!!!! and show him these replies!

Jonbvn

I'm surprised anyone would even consider such obvious tosh! Surely you will have seen similar style websites selling everything from timeshares to ostrich farming and every get rich scheme in between?

homer_j_3

i wonder if the link is a referral link?

koexelek

They have probably got the decimal point in the wrong place.

Probably should be " secure at rate of 27.5%, not 2.75% :rolleyes: