A warning has been issued as YouTube videos tell homeowners they aren’t bound by mortgages . The FCA has sounded alarm over growing conspiracy theory that uses arguments dating back to Magna Carta.

“We’re aware of mortgage holders in financial difficulty who are being misled by this online misinformation, often with serious financial consequences,” the FCA says.

The “freemen on the land” movement – sometimes written as “FOTL” or just “freemen” – claims individuals are only bound only by the contracts and laws they consent to, often using arguments dating back to Magna Carta.

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The FCA says that some borrowers have paid individuals a fee to take their claims to court to avert their home being reposs

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