Spry Finance

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Colm Fagan

Registered User
Messages
738
As a regular listener to Lyric FM, I am constantly being bombarded with ads from Spry Finance about “your later life lending options”.
Someone should force them to call a spade a spade. It’s not later life LENDING options, it’s later life BORROWING options. There’s a heck of a difference between the two!
 
CorkHome2022 said:
And right now by all accounts they are helping people get away from the Vulture Funds with a lower interest rate , however the full implications for their type of lending needs to be fully understood .
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Very much agree, they are providing a solution to customers who are stuck with vultures. People should go through a broker to make sure they get the financial advice they need. Think it is a great option. Would rather have the option and not need it, than need it and not have it!
 
Brendan Burgess said:
I don't think that Colm is criticising the product, just the advertising.

It's a great product
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Thanks, Brendan. You're right. It's the advertising I object to. I haven't looked at the specific product, but I applaud the general idea. I recall a personal experience years ago with an old lady I know. I bumped into her on Bray seafront. On asking her how she was, she told me that she was still working (into her 80's!) because she couldn't afford to retire. She was a single lady with a big house and no mortgage. I told her to consider a product of this nature (it was well before Spry came on the market). She took a small loan secured on the value of her house. It allowed her to retire and to live the rest of her years in comfort. She was forever grateful to me for telling her about it.
 
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Gordon Gekko said:
It’s a super product which can help people in a variety of different ways.

The whingers on Joe Duffy tend to be greedy beneficiaries or people who don’t realise that compound interest on a loan works against you just as compound interest on investments works in your favour.
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I have only listened to Joe Duffy's show twice, both times to hear them talk about financial products. Both times about 75% of what was said was wrong, and resulted in a Joe rant about things that were not a part of reality.

I have been told this is how most of the shows go.
 
@Fortune

I complained about the programme first to RTE and then to the BAI.

Both rejected my complaints.

My complaint to RTE about the programme on Life Loans

Note: The first two posts are very long. But it's necessary. I have today sent this email to RTE. To: Lisa Marie-Berry , Producer LiveLine by email to: complaints@rte.ie; joe@rte.ie; Rebecca.meehan@rte.ie; lisamarie.berry@rte.ie From: Brendan Burgess 2nd February 2021 Hi Lisa-Marie I...
www.askaboutmoney.com
 
Colm Fagan said:
I recall a personal experience years ago with an old lady I know. I bumped into her on Bray seafront. On asking her how she was, she told me that she was still working (into her 80's!) because she couldn't afford to retire. She was a single lady with a big house and no mortgage. I told her to consider a product of this nature (it was well before Spry came on the market). She took a small loan secured on the value of her house. It allowed her to retire and to live the rest of her years in comfort. She was forever grateful to me for telling her about it.
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Mightn't it have made more sense for her to trade down to a smaller and more manageable place and use and excess funds for her retirement?
 
Fortune said:
I have only listened to Joe Duffy's show twice, both times to hear them talk about financial products. Both times about 75% of what was said was wrong, and resulted in a Joe rant about things that were not a part of reality.

I have been told this is how most of the shows go.
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My 19 year old son didn't believe me when I told him that Liveline wasn't a parody comedy programme. We're often doubled over laughing when it's on. It's often far funnier than Callan's Kicks. :D
 
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Joe Duffy is a skilful entertainer first. The rest of his performance is by-the-way. Don’t discount he has a huge and loyal listenership. If you wish to participate on his radio programme you must be well versed in your product/service and be well trained in media. If you lack any of this the message from me is Don’t Talk to Joe. He’ll call you out (rightly or wrongly). He appeals to people. Duh!
 
Leper said:
Joe Duffy is a skilful entertainer first. The rest of his performance is by-the-way. Don’t discount he has a huge and loyal listenership. If you wish to participate on his radio programme you must be well versed in your product/service and be well trained in media. If you lack any of this the message from me is Don’t Talk to Joe. He’ll call you out (rightly or wrongly). He appeals to people. Duh!
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It would be better to avoid it completely. He is relatively skilled at what he does (i.e. rabble rousing) but his listeners typically fall into two categories. 1) Idiots. 2) People who see it as indigenous comedy. Debating with the typical Joe Duffy listener about something like a Life Loan is analagous to debating with a chicken. It’s a waste of time and effort.
 
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