Carol Vorderman quits ads for FirstPlus Loans.

Carol Vorderman is to quit after 10 years fronting TV adverts for lender FirstPlus, which is part of the Barclay’s Group.

She has been criticised for her association with the company which offers secured personal loans, potentially putting homes at risk. FirstPlus lent up to 25 per cent more than a property was worth during the house price boom.

The reason behind the criticism is in how she has choosen to use the power of the brand that is Carol Voderman. While not herself being a great academic, she is easily the UK’s most recognized mathematician (of sorts).  She may have studied maths at Cambridge, but she’s only got a 3rd class degree.

Many people, not fully understanding the true cost of a secured loan, nor the risks involved, may be given to thinking she was giving sound advice, because she’s “good with numbers”.

The reality is that such loans can lead to repossession problems if the borrowers are not able to maintain repayments.

I used to annoy me the way she says “secured”, as if this is for the benefit of the borrower, when it’s not, it’s for the benefit of the lender.