The complaint focused on a ‘20-point promise’ the firm features prominently on its site, specifically the point that no commission is charged. The complainant argued this was misleading as they themselves had been charged commission for selling a property through the firm.
A spokesperson for the ASA said that House Network had explained that the 20-point promise had come into effect in February last year, but customers who had dealt with the firm before then would have been charged commission.
The spokesperson added: “House Network showed us a copy of the current contract which stated that no commission is charged. House Network agreed to amend its website so that it was clearer for consumers.”
Wellesley
A separate complaint against lender Wellesley Property Finance was dismissed by the ASA.
The complaint was centred on the firm’s TV advertising for its property mini-bond, and was made by a member of the Financial Services Consumer Panel.
The complainant argued that the ad was misleading as it implied a mini-bond was an alternative to a savings account and did not make it sufficiently clear how an investor’s money was lent alongside the firm’s own funds.
However, the ASA sided with Wellesley, arguing that it was clear from the advert that the product was not an investment, and that viewers would have a decent understanding of how it worked.
As a result, no action by Wellesley is necessary.
