Financial Promotions and TCF

Central to the theme of TCF is that promotional material should:

be clear, fair and not misleading
enable the customer to balance potential reward against risk
target the appropriate audience

The FSA Financial Capability Baseline Survey 2006 found lower levels of financial understanding among 18 to 40-year olds and the over 70s. As mortgage products become increasingly complex, this underlines the need to target and tailor promotional material carefully. The first group will include many first time buyers; the second those in retirement. What might be considered suitable product targeting and clear information (and therefore TCF) for one set of customers may not be true with another.

Tips, tools and links

The Advertising/Financial Promotions Checklist below will help you check that your solicited or unsolicited promotion of mortgages in the form of Direct Mail, posters or advertisements (including email/internet and certain radio/TV advertisements) are meeting FSA requirements and, in so doing, support the TCF principle.

Bear in mind that this checklist is a guide only. For detailed requirements please follow the link to the FSA rules at the end of the checklist. You can also link to relevant information on the FSA website below.

Financial promotion checklist

FSA Links

View example qualifying credit promotions on the FSA website (PDF document, 108K)
Check MCOB record keeping rules for financial promotions (opens new window)
FSA newsletter - general and pure protection insurance promotions (Aug 2005) (PDF document, 58K)
Marketing and promotion case study (general) (opens new window)
FSA Financial Capability Baseline Survey, 2006 (PDF, 860K) (opens new window)