Vault weeds out plans that are designed to game the system with teaser rates
or pricing structures that make it impossible for consumers to realize the advertised rate.
The lenders use baiting tactics reminiscent of the housing-boom era -- "teaser rates
," promises of zero payments for one or two months, refunds of escrows, switches from long-term fixed rates to short-term floating rates, and a grab-bag of bogus claims about saving money.
Lulic pointed out there are many websites that list "a bunch of static teaser rates
from online lenders" in a comparison chart, or setup to sell off a buyer's data to the highest bidder, and some who capture a customer's data and try to broker a loan offline.
RBS (LSE: RBS) and NatWest have announced that they will stop offering teaser rates
for home insurance deals.
British providers of financial services Royal Bank of Scotland (RBS) and NatWest on Friday revealed their new advertising campaign, which is said to focus on fairness while highlighting that both banks ended teaser rates
for customers last year.
Do not be easily tempted by those "teaser rates
" for home finance.
Whatever proves to be true in the future, the number of savings accounts on the market offering teaser rates
is already falling fast.
ROYAL Bank of Scotland are to ban teaser rates
and sweeteners in a bid to get back to basics with simpler products.
Stacey Pogue, a senior policy analyst for the left-leaning Center for Public Policy Priorities, says the pre-ACA premiums - what she calls "teaser rates
" - analyzed in the report do not reflect average rates paid on the individual market.
We understand that customers are wary of teaser rates
and conditional benefits and as such Noor has packaged the offer comprehensively for a wide variety of customers."
Consumer groups, such as California Health Advocates, have argued that the bill could keep cynical insurers from building market user using teaser rates
that they know to be unrealistically low, according to an analysis of the bill posted by the California Senate staff.