View more on these topics

FSCS declares two mortgage firms in default

The Financial Services Compensation Scheme has named two mortgage firms and a financial adviser as becoming insolvent during October and November.

Standish Mortgage Services, based in Wigan, failed in October, and Castle Financial Services, based in Wolverhampton and Mortgage Match in Nottingham, failed in November.

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.”

Recommended

FSCS Interior 480

Search for new FSCS chief executive underway

The Financial Services Compensation Scheme has outlined a three-month plan to recruit a new chief executive officer to replace the outgoing head of the lifeboat fund Mark Neale. Neale has held the position at the top of the FSCS since 2010 and will leave to pursue “new challenges” next May when his current third three-year term ends. Recruitment […]

FSCS Interior 480

FSCS declares mortgage firm in default

The Financial Services Compensation Scheme has named a mortgage company and a financial adviser among five firms that defaulted during September. Independent Mortgage Advice Bureau (Stevenage) Ltd, based in Watford, has closed its doors, along with The Financial Factory Ltd., based in Country Down. The FSCS advises that consumers could be in line for compensation, […]

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 […]

Handcuffs-700x450.jpg

CMA publishes recommendations to challenge “loyalty penalty”

The competition and markets authority has responded to the super-complaint made by Citizens Advice in late September, which criticised the “loyalty penalty” that customers typically pay by not switching service providers. The response takes the form of an investigation and a number of recommendations for government and regulators to deploy. The CMA says that it […]

Newsletter

News and expert analysis straight to your inbox

Sign up