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FSCS declares two mortgage brokers bankrupt

The Financial Services Compensation Scheme has named two mortgage companies among six firms that defaulted in August.

London-based Cain Lambert Limited, formerly known as PAR Capital Mortgages Limited, and The Man for Mortgages Limited, based in Derbyshire, have both closed their doors.

The FSCS advises that consumers could be in line for compensation, and that if they have lost any money as a result of their dealings with the failed financial firms, they should get in contact.

FSCS chief corporate affairs officer Alex Kuczynski says: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance.

“We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.”


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FSCS declares mortgage consultancy in default

The Financial Services Compensation Scheme has declared South East London-based The Mortgage Consultants Limited among nine firms that have gone into default. The consultancy, which was incorporated in 1999, has been dissolved and since struck off the register. The FSCS advises any client that believes they could be in line for compensation to get in […]


Broker FSCS fees to drop after landmark funding review

Mortgage brokers can expect to see a drop in their FSCS bills after 2019 following an overhaul of how the lifeboat fund works out the charges. The two main reasons for recent high broker bills are a wave of claims against property investment firm Fuel Investments, which involved remortgaging, and because mortgage brokers are exposed to […]

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Providers to pay a quarter of advisers’ FSCS fees

Providers will have to contribute 25 per cent of advisers’ Financial Services Compensation Scheme bills, the FCA has ruled today. Despite fierce opposition from some providers, and some advisers arguing that providers should pay up to 50 or 75 per cent in response to the FCA’s consultation, the regulator has decided to go ahead with […]

Europe: why persist with value today?

By Rob Burnett, Neptune’s Head of European Equities The Neptune European Opportunities Fund remains committed to a value bias. We see a broadening array of opportunities in diversified industries at compelling valuations today. The most complicated part of the market is the European banks. We are currently overweight in this sub-sector as many banks are […]


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