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Barratt Homes Tv Advert Is It Legal?

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Have you seen it? Is it legal?

Just caught the end of a Barratt homes TV add I'm sure I heard the words "now has never been a better time to buy"

But that cannot be true - any previous year has been better as the price has been lower (unless they admit they are selling homes cheaper now than the last few years!!)

Shouldn't, - aren't there rules against this?

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Complain. It's free. Make a list of the things which can make it a good time to buy a house and why they don't apply.

* Low prices

* Likelihood of Rising prices

* Availability of easy credit

* Availability of cheap credit.

http://www.asa.org.uk/asa/

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I particulary enjoyed this guide to BTL from Barratt's website:

http://www.barratthomes.co.uk/guides/buytolet

buying-to-let has become increasingly popular and is seen by many as the safest place to invest money

I think I've seen the way out of this mess for Barratt's: They need to start building lunatic asylums for BTL landlords who crack up as their investments bankrupt them.

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When you actually parse it, it's meaningless.

"Today has never been a better time to buy."

It's like saying "Today has never been sunnier." Of course it hasn't. It's exactly as sunny as today is.

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There has never been a better time to short, more like (especially if this is still above 400p after the ex-divi date).

This advertising spend, coupled with the extravagent dividend payment BDEV has just agreed, will put immense pressure on an already dire balance sheet.

That's right Barratt's, you can spend your way out of trouble! :blink:

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I would strongly recommend complaining not only to the ASA but also to Barratt themselves...

It doesn't take many complainers to get an advert investigated, we got another non-housing related ad pulled once just by complaining enough to the company doing it, before the ASA even bothered to get involved.

I'll fire off a complaint myself, I reckon 20 or so would be enough to force the ASA's hand into investigating that claim.

Has anyone got a copy of it recorded, so I can see it myself...before I let fly?

Edited by BrownField

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When you actually parse it, it's meaningless.

"Today has never been a better time to buy."

It's like saying "Today has never been sunnier." Of course it hasn't. It's exactly as sunny as today is.

well said!

it even seems to be an extension of saying "Today is not a better time to buy"

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The complaint:

The advert states "There has never been a better time to buy". This with regard to property is clearly not true.

Several clear facts spring to mind. Firstly house prices are now falling, not rising, after hitting a peak. This alone makes it a poor time to buy. (Source: The Nationwide House price Index as just one example).

Secondly affordability is stretched, meaning that people are likely to be spending too much on their home purchase. This coulpled with instant negitive equity is clearly a poor choice.

Thirdly, cheap and easy credit is now a thing of the past with mortgage rates still staying stubbonly high despite the Bank of England cutting base rates.

Are Barret Homes really able to give this sort of 'advice' as to if now is the best time to buy one of their homes.

Please investigate this urgently before it encourages people to buy into things in a falling market. If this was any other investment advice, they would not have been allowed to put this advert on full stop, eg "Now is the best time to spend £200,000 on the stock market".

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When you actually parse it, it's meaningless.

"Today has never been a better time to buy."

It's like saying "Today has never been sunnier." Of course it hasn't. It's exactly as sunny as today is.

its actually truthful.

today has never been a better time to buy.

nor was it ever, nor will it ever be.

they are stating that today has never got any better as regards to buying a house.

in court prosecution might ask.

Call Barrat ?

: would you say that today is a better time to buy ?

defence:

no. today has never ever been a better time to buy, and we never said it was so.

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My complaint to the asa read:

Advertiser: Barratt

Product: Houses

Your complaint:

Barratts television advert states that : Today has never been a better time to buy.

My complaint is that this is a contradiction of publicly available evidence.

1) House prices, these have been shown to be inflated on any new build development owing to doscounts not being declared to the land registry. Also against average salaries houses have never been more unaffordable.

2) Risk. By giving the impression that a home purchase is a "safe" investment this denies the last 6 months of house figures. Thus if someone bought a home now they would be at risk of negative equity for years to come. I personally would not call this a good time to buy.

3) Cost of credit. Houses are now unaffordable to the point where 125% and 100% Interest only mortgages became the norm. These are now withdrawn from the Market because banks no longer see any potential in property. Again I would not say that today is a better time to buy.

With these 3 points I believe that the ad is at best misleading and in reality untruthful. As such it is my belief that this contravenes UK advertising guidelines.

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Submit a complaint to the ASA. Worth a go!

No it isn't. I complained a while ago to the ASA about those incredibily annoying Galliard Homes adverts on the London radio stations. The whole thing is about investment returns. And they guarantee you a return for a few years and then you're on your own. There are loads of things in the adverts which are blatant nonsense and they are very clearly enticing people to buy property as an investment, i.e. they are selling an investment.

I suggested to the ASA that as they were selling an investment the adverts should clearly state 'The price of property can go down as well as up and you may not get back the amount you invest. The returns on your investment cannot be guaranteed once the guaranteed period expires and the income you receive may not be enough to pay the interest on any loans you take out to buy this investment.'

ASA replied and said there was nothing wrong with the Ads. Absolute waste of time.

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The advert actually says there's never been a better time to by a Barratt home." That could cover them , they have lots of incentives going on at the moment so they could be referring to that.

Maybe, but hey report them anyway.

Will give their legal team something to do because they sure as sh*t ain't selling houses! :lol:

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The advert actually says there's never been a better time to by a Barratt home." That could cover them , they have lots of incentives going on at the moment so they could be referring to that.

I did think that, although I still see this as mis-leading. Makes the whole process of buying Barrat homes safe and easy and risk free.

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So actually they don't mention the word "today". The exact quote is, "There's never been a better time to buy a Barratt home."

12:27 in the morning, a great time to buy...

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  • 292 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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