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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, 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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