Do financial comparison websites act in your best interests?

timgordon · #1 (**permalink**) 06-20-2008, 11:37 AM

If a finance related comparison website claims to search the UK market for the best loan deal or mortgage deal, would you believe that company are acting in your best interests or merely providing you with the company who is paying them the most for that lead?

a) Yes, I believe they are acting in my best interests.
b) No, I belive they promote the company paying the most.
c) I think this differs between these type of sites
d) I don't know

brian · #2 (**permalink**) 06-26-2008, 02:04 PM

Heh, a mixture of a and b.

They can only provide offers which are supplied to them, and not all the best deals and rates are given to comparison sites to provide.

However, for normal freely available products, a potentially useful service.

Reeve_Calling · #3 (**permalink**) 07-07-2008, 04:09 PM

Well, sadly everyone is trying to make money. While a financing site will recommend a good lender, chances are they've been doing business with that lender for some time and are getting some kind of bonus for promoting them.

On the other hand, there are some good comparison sites out there, you just need to do your research and shop around on your own too. Don't leave it to someone else, or you might miss out on a good deal.

MK Financial · #4 (**permalink**) 08-03-2008, 10:49 PM

The answer is maybe, perhaps, probably. They are businesses and have links with organisations that provide financial services. They will show there preferred partners at the top of the list (like googl adds but without you knowing, unlike google). On top of that, they sell your details and you might be getting phone calls from companies/brokers for a month or so after you your details on there !

Mick

usfinancialfreedom · #5 (**permalink**) 08-25-2008, 01:02 PM

believe they are acting in my best interests

rughead · #6 (**permalink**) 09-21-2008, 12:29 AM

They are ou to make money. Well most of them anyway. They will always offer you the best they have on their "panel" however they are only on the panel as they pay well. Thats my opinion anyway

martman · #7 (**permalink**) 10-18-2008, 08:58 AM

I really think it depends on which one you are using

Steve Plummer · #8 (**permalink**) 05-19-2009, 03:00 PM

The price comparison site has to make money from offering a service to customers. I cant quite see how they can be criticised for this. I understand its frustrating how they advertise deals which 1/100 ever qualifies for, but the proof is in the name i.e. 'comparison'. Otherwise then go direct to the companies website and make the application that way.