Nova Financial has agreed to change the way it promotes property investment in future, after it was the subject of a complaint to the Advertising Standards Authority (ASA).
Buy-to-let specialist broker and property manager Nova, an appointed representative of Connect IFA, sent out a promotional message on LinkedIn which stated: “Quick question, if I could show you a way to get a return of 30%+ a year on your savings without paying unnecessary fees or taking high risks, would you be interested?”
A complaint was made to the ASA, challenging whether the claims made in the message were misleading.
After the regulator approached Nova, which has offices in London, Manchester and Birmingham, the firm agreed to make the type of investment required clear in all of its future advertising, as well as holding evidence in order to substantiate any claims it makes in those ads.
As a result, the ASA resolved the case informally.
A conveyancer has also had a complaint informally resolved.
A complaint was made about a ‘no completion, no fee’ guarantee on the Homeward Legal website, suggesting the claim was misleading as the complainant understood customers had to pay a non-refundable deposit at the outset.
Fitzalan Partners, parent firm of Homeward Legal, has agreed to put in a qualification to its advertising to make clear that an initial payment of £100 plus VAT is required.