You are here: Home - News -

Power Hour debate raises concerns over the influence of financial press

  • 05/09/2002
  • 0
Concerns are growing that the press is taking on a more influential and educational role in the mort...

Concerns are growing that the press is taking on a more influential and educational role in the mortgage market, according to guests at the latest Mortgage Solutions ‘Power Hour.’

Speaking at the debate, Peter Timberlake, PR manager at Legal & General, said press hype over issues such as endowments can do a disservice to readers of the national press.

‘They can quickly create a certain amount of concern among the reading public. These readers phone their lenders and often find their concerns are unfounded, or less founded than they were led to believe by the press. This is because it has not been presented in as objective fashion as it could have been.’

Alex Bland, consultant at public relations firm Proteus, said while the press can’t make an issue out of nothing, it can build issues up only to knock them later on, causing problems for those who follow the personal finance pages.

‘Take buy to let, for example. This has become very popular over the last few years and a large part of that is due to media exposure. Now it is receiving more negative coverage. Any problems in the future are partly down the fact they have opened it up to the financially less experienced, who perhaps would not have considered it but for all the coverage.’

The consensus of opinion around the table was that the quasi-educational role of the press could prove damaging if people accept what is written without seeking professional advice.

Timberlake said: ‘The press should not take away from the role of the financial advisers in dispensing advice. And while the division between a proper education and providing information that empowers readers is a fine line, I think it is more about providing useful information than providing advice.

‘The role of the press should be to inform the readership with sufficiently balanced pieces to empower them to make objective decisions, or seek appropriate advice by talking to the right people.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Flexible deals help 25% of borrowers overpay

A quarter of those with flexible mortgages are either overpaying by 100%, or adding lump sums to red...