Mortgage comparison websites - ? False advertising

spangle48

Hi, I have found a pretty amazing mortgage deal on several mortgage comparison websites today (including MSE) but when I go to apply, the rate on the suppliers website is actually much higher. Are they allowed to do this? Surely its false advertising.

BoGoF

Care to be a bit more specific. Perhaps the deal exists for certain criteria.

ACG

At a guess, I am going to say it is Virgins deal? 
I think it is for new builds and can only be accessed via certain brokers. 

alligin

If you use the MSE remortgage search tool then it will return a 2 year 2.11% fix from the Furness Building Society.

It also returns a 2.66% and 3.56% 2 year fix from the same lender.

The cheapest 2 year fix on their own website is 4.85% so there's a glitch somewhere.

Example:

Value = 250k

Loan = 180k

Term = 25 years

ACG

It looks like their cheapest product is 3.99% so still some way off the figures quoted. 

I suppose it could just be a mistake? 

kingstreet

It's probably old data that's been re-uploaded.

Iggster

I found this offer at the top of the remortgaging offers earlier today and have not been able to find a mention of it elsewhere? If its a mistake it should be removed immediately.

amnblog

Comparison charts are a marketing exercise, not financial advice or advertising

ACG

Iggster said:

I found this offer at the top of the remortgaging offers earlier today and have not been able to find a mention of it elsewhere? If its a mistake it should be removed immediately.

It can only be removed if they know about it. 
People do make mistakes, its not like this one is the end of the world. You would realise as soon as you go to the lenders site and see the product is not available. Dont forget the phrase,  if something sounds too good to be true, it usually is. 

PanPen

If it's Furness could it be this new Own New Rate Reducer product that some housebuilders are doing? Furness is one of the options and they are quoting rates from 0.99% on the adverts.