Beware of Orwellian stock release scams, says Peter Sharkey
8:00 a.m. December 3, 2021
While researching a prospective financial story recently, I came across a small number of online transactions, the activities of which would not have moved into a George Orwell novel.
Many of these niche groups have peppered their websites with sinister language, using words and phrases such as “brand identity theft”, “manipulation” and even “brainwashing”, conjuring up ominous images of Internet browsers whose online searches are manipulated or even spied on. Welcome to the sometimes dark world of lead generation.
Known for revolutionizing so many aspects of modern life in a positive way, the internet, as well as social media, has a less altruistic side. Online lead generation, the process by which potential customers are introduced to a product supplier or middleman, is a simple and cost-effective way to attract new customers.
However, as Mark Gregory, Founder and CEO of Equity Release Supermarket notes, over the past few years, â€œa handful of lead generators have exploded the stock release market: many claim to have access to the best deals in the market. release from shares or make a succession of other claims that are just not true.
“Why are they doing this?” asks Mr GrÃ©goire. The answer is troubling: “To persuade people to part with their data – valuable information that they can then sell on.”
Evidence of this practice can be found across the financial services industry, where dishonest online lead generation companies continue to operate, using Orwellian-sounding methods such as ‘search engine manipulation’. to change people’s perception of a product or have a direct influence on research. queries.
â€œWe refuse to deal with them,â€ says Gregory. “Although some of our competitors have no such reservations.”
To counter this, Equity Release Supermarket has created an impressive range of online equity release calculators, allowing visitors to get a quick idea of â€‹â€‹how much money they could free up from their home, and to explore other uses for freeing up equity that may be of interest to existing and potential clients.
For example, a particularly useful calculator quickly determines whether switching to a new equity release plan could save clients money in the future. The “change of plan” calculator first compares the cost of a client’s existing equity release plan with other potentially cheaper rates currently available. At the same time, it takes into account additional factors, such as the potential costs of modifying a plan or prepayment charges.
Results are displayed in a clear and understandable format on an annual basis, allowing clients to compare their existing and new plans, establishing the point at which the breakeven point is reached – i.e. the year in which the change occurs. plan starts to save money.
Simple to use, maybe, but it’s a valuable tool with the potential to save people thousands of dollars.
Another useful tool is the “Remaining Equity” calculator, which quickly determines the value of the remaining equity in a property, allowing clients to establish the likely long-term value of their wealth.
This is reassuring for those who might fear that the freeing up of equity could seriously erode the value of their estate, thereby reducing the levels of inheritance remaining for loved ones. Fortunately, a combination of the low interest rate plan for freeing up equity, coupled with modest, longer-term increases in house prices, ensures that many people are often pleasantly surprised by the potential size of the house. legacy they could leave.
Elsewhere, the Improved / Poor Health Calculator could prove to be a boon for people aged 55 and over who have existing health issues. In some cases, homeowners may be allowed to release a higher level of equity in their property or benefit from a lower interest rate on their life mortgage.
For those who wish to take an in-depth look at their â€œlife later loanâ€ options, Equity Release Supermarket recently launched smartER, the first user-friendly stock publication search engine. By answering a few quick questions about yourself, your property, and your financial aspirations, smartER researches the entire market and presents a comprehensive list of suitable plans. Besides being exclusive to Equity Release Supermarket, smartER is also free and will not impact your credit score.
It is essential that anyone considering an equity release has access to the information they need to help them with their decision-making process, which means it is imperative to avoid outfits interested only in collecting of personal data and their sale to a third party.
Mark Gregory’s vision has always been to be as open and transparent as possible, providing those interested in stock posting with the information they need to help them with their decision-making process. It has certainly achieved this with the market leading line of tools and calculators provided by Equity Release Supermarket.