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Experts warn "fluff outsells facts" as unregulated mortgage and property advice flourishes online

Journalist: Emma Jones, When The Bank Says No

ended 27. May 2025

Brokers and professional property investors have issued a stark warning to consumers as “social media is increasingly turning mortgage myths into mainstream mantra and property investment into easy-street".

One said: ”So-called finfluencers are a real danger and, in some cases, an absolute menace. I’ve seen clients who’ve saved for years get sucked in by flashy TikToks and Instagram Reels promising the world with easy deals. Next thing you know, they’ve handed over £10k of their hard-earned deposit for a course that offers nothing but pipe dreams."

Another warned: “Social media platfortms have become a free-for-all for the consumer and one that's fraught with danger when it comes to major spending commitments like a mortgage. Ultimately, the FCA is the regulator and should have much tighter controls in place to ensure that misinformation is addressed swiftly, ideally before such posts gain significant traction. Current delays are deeply concerning, especially given the potential harm to vulnerable individuals who may be exposed to misleading or outright false information. Faster intervention is essential to prevent the spread of damaging content, but the FCA is clearly struggling on that front.”

Views from experts below.

8 responses from the Newspage community

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Editor
Emma Jones
Managing Director at Whenthebanksaysno.co.uk
Social media platforms have become a free-for-all for the consumer and one that's fraught with danger when it comes to major spending commitments like a mortgage. Ultimately, the FCA is the regulator and should have much tighter controls in place to ensure that misinformation is addressed swiftly, ideally before such posts gain significant traction. Current delays are deeply concerning, especially given the potential harm to vulnerable individuals who may be exposed to misleading or outright false information. Faster intervention is essential to prevent the spread of damaging content, but the FCA is clearly struggling on that front.
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Craig Fish
Director at Lodestone Mortgages
So-called finfluencers are a real danger and, in some cases, an absolute menace. I’ve seen clients who’ve saved for years get sucked in by flashy TikToks and Instagram Reels promising the world with easy deals. Next thing you know, they’ve handed over £10k of their hard-earned deposit for a course that offers nothing but pipe dreams. These finfluencers know exactly what they’re doing. They drain people’s savings, then upsell “mentorships” costing hundreds each month, claiming they’ll teach them to buy property with no money, which of course they have to follow as they now have no money. It’s nonsense. It’s not easy. If it was, everyone would be doing it. Some of the advice is not just misleading, it’s illegal. I’ve had to unpick the damage too many times. The FCA is far too slow and the social media platforms are profiting while doing nothing. This is financial exploitation dressed up as opportunity and it needs to stop.
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Michelle Lawson
Director at Lawson Financial
We have all experienced pub advice over the years but the power of social media shouldn't be forgotten. This is a disaster waiting to happen with people turning to these channels for advice on what is potentially their largest investment without checking the credibility of the person delivering the content. Some of these actively recommend committing mortgage fraud to boost property portfolios to the unsuspected. People can pay thousands for courses from unqualified individuals who are merely passing on how they have transacted. This doesn't make it right and the only winners are the 'tutors' and the losers are those parting with the money that could have been used for their investment. I have helped many investors grow their portfolio for free. Most good advisors will do this but people are too intent on making a fast buck.
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Rob Peters
Principal at Simple Fast Mortgage
It’s a nightmare. Social media is flooded with fast-talking 'armchair experts’ promising zero-deposit homes, and guaranteed approvals usually without any clue about actual lending criteria or regulation. This isn’t harmless hype, it’s potentially harmful, especially when people make financial decisions based on a 30-second video. Clients come to see us armed with false confidence, and we’re left playing damage control from a defense position. But what can be done about it? Ultimately, social media platforms are concerned with engagement not factual accuracy. FCA enforement is not a viable solution either. You can't regulate free speech from people who don't operate in a professional capcaity. The only answer is education of the masses. The responsibility falls on industry professionals to put the correct information out there and encourage people not to make financial decisions based on 'advice' from Dave down the pub, or equally Karen on TikTok.
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Kundan Bhaduri
Entrepreneur, Investor and Landlord at The Kushman Group
Britain's mortgage gurus have evolved spectacularly, from old school brokers needing actual qualifications to now people simply requiring good lighting and camera confidence. These TikTok titans have follower counts larger than their understanding of fixed-rate terms, and now dominate financial advice with groundbreaking strategies like "manifest your deposit". The FCA's response has been predictably robust, issuing three strongly-worded statements since 2022 while approximately 67,000 misleading mortgage videos accumulated 422 million views this year alone. Genuine brokers now spend 40% of client meetings deprogramming victims of mortgage mis-selling. Meanwhile, platform algorithms ensure financial illiteracy spreads faster than factual content. A 2024 Ofcom study found misleading financial videos received 6.8 times more engagement than accurate ones, teaching desperate Britons how to obtain mortgage products that disappeared with Northern Rock.
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Patricia McGirr
Founder at Repossession Rescue Network
Fluff outsells facts. And that's a fact. In today’s insta-famous, insta-rich, insta-successful world, it’s hardly surprising the rise of finfluencers has become stratospheric. People with dreams want the fairytale ending and will invest heavily to get it — even to their detriment. Social media is increasingly turning mortgage myths into mainstream mantra and property investment into easy-street. Flashy ‘no deposit’ deals vanish on contact with reality, while clients come in quoting TikTok like it’s gospel, with no mention of conditions, risk or context. The FCA is out of touch. By the time they act, the damage is done and the content’s already viral. Platforms don’t police it, leaving real professionals to clean up the confusion and mess. Meanwhile, the reputable trainers and brokers who tell it like it is get sidelined in favour of shiny hooks and overblown promises. That’s the real tragedy. Straight talk rarely trends and warnings are rarely heeded until the damage is done.
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David Stirling
Independent Financial Adviser at Mint Wealth
Virality doesn't equal validity and the information these modern day soothsayers provide should be checked and then double-checked. Most of these finfluencers lack any formal financial qualifications, yet often recommend complex and speculative strategies to the unsuspecting. The emotional appeal of these finfluencers to the social media generation is clear, but it should be noted that they are not legally required to act in the best interest of their audience. They may also be influenced themselves by undisclosed sponsorships.
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David Belle
Founder and Trader at Fink Money
If you are not providing advice but are providing good information, you should be uplifted since the general public is going to come into contact with your information anyway. Equally, providers should absolutely call out bad actors and shame them publicly.