How about setting up Fixed rate comparision only

code^express

Which bank/rate? set up fees? etc.,

homer_j_3

How would you want them compared?

JoeK_3

code^express wrote: »

Hello everyone,

Instead of scrolling for all the thread to find the best deal for fixed rate why don't we just have a thread specifically for fixed rate morgages to be updated regularly if possible . What do you think? should we start now? Which bank/rate? set up fees? etc.,

Are you aware that there are over 40,000 different mortgage products out there and that they can change on a daily basis?

Don't let us stop you though!

JoeK

dunstonh

Wouldnt it require FSA authorisation if you wanted to publish that sort of info?

homer_j_3

I think the OP was just trying to make a suggestion which they had not realised the complexity of. Yes you will need FSA authority to do that and I would point the OP'r to look at best buy tables if they want to do some self research.

Clearly we know as advisers that best buy tables can be misleading and do not take into account individual circumstances so will end by saying that professional advice should be sought if they are unsure what they need to look at.

KTF

There are already plenty of comparison sites on the net and as everyones circumstances are different there is no 'best' one really.

jamesd

When did journalism start needing FSA authorisation? No sales activity proposed, simply reporting.

code^express, best depends on the mortgage amount so it's not completely straightforward but it seems doable to highlight interesting offers. There are also credit ratings and property location affecting eligibility on income multiples or affordability to consider.

dunstonh

When did journalism start needing FSA authorisation? No sales activity proposed, simply reporting.

The problem is going to be keeping that data accurate. It changes daily and who is going to take on responsibility for that. If you start displaying data that is inaccurate can you hide under the journalism exemption?

Also, where does the line between journalism and advice cross. For example, Martin recommends certain mortgage brokers. So, if a "best buy" table appeared as well would it be akin to recommending a mortgage and where to buy it from?

I don't know the answers so that is why I raised the questions. I only know the adviser side and if an adviser had that sort of info on site, it would require a range of compliance messages and the data would have to be accurate.

dwsjarcmcd

Don't know about the FSA authorisation angle but what may be interesting would be a table which quoted the repayments on 'cost per £10k' loan (for example). At least this way it would even out all the inconsistencies such as daily/monthly/annual interest, which can make a tempting rate not quite so attractive, or vice versa.

HelpWhereIcan

Would a solution not be to create a sticky that has links to the most impartial comparison engines, ie those not provided by a broker and which show all deals available from all lenders?

granted it would leave just https://www.moneyfacts.co.uk and http://www.fsa.gov.uk/tables , but at least people would have a starting point and would be able to highlight and compare notes on any deals they find interesting.

Oh, but isn't that how Martin intended this forum to be in the first place? :think:

jamesd

dunstonh wrote: »

The problem is going to be keeping that data accurate. It changes daily and who is going to take on responsibility for that. If you start displaying data that is inaccurate can you hide under the journalism exemption?

If you can't rely on it, Martin is in trouble here, since the articles on the main site are regularly inaccurate for exactly that reason: providers changing things between the last update and the time someone is looking at a page.

If there's a requirement to hide out of date information it's being massively breached by publishers making available old stories and articles from their archives with grossly out of date information in them, so the issue seems to have ample precedent on which Martin and all others can rely. Many journalistic web sites don't even consistently give the date on which the piece was written so you can't even always tell that it's out of date information.

dunstonh wrote: »

Also, where does the line between journalism and advice cross. For example, Martin recommends certain mortgage brokers. So, if a "best buy" table appeared as well would it be akin to recommending a mortgage and where to buy it from?

I don't know the answers so that is why I raised the questions. I only know the adviser side and if an adviser had that sort of info on site, it would require a range of compliance messages and the data would have to be accurate.

I assume that Martin has researched this prior to giving this information and he appears to have ample precedent backing him, since newspapers regularly publish such things.