Consumers could be in line for compensation after FSCS declares 24 firms in default

16th March 2018

Consumers could get back money they have lost as a result of their dealings with any of the 24 failed financial firms (listed below) the Financial Services Compensation Scheme (FSCS) declared in default during January and February 2018.

FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services firms. A declaration of default means FSCS is satisfied a firm is unable to pay claims for compensation made against it. This paves the way for customers of that firm to make a claim for compensation.

Alex Kuczynski, Director of Corporate Affairs at FSCS, said: “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.” 

Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.

If you wish to make a claim with FSCS against one of these firms, you may be able to do so using its online claims service. Or you can contact its Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at enquiries@fscs.org.uk.

For the latest FSCS news and information visit www.fscs.org.uk or follow @FSCS News

Declarations by FSCS

from 1st January to 28th February 2018

January 2018

LONDON

Broadgate Mercury Limited, 9 DEVONSHIRE SQUARE, LONDON, EC2M 4YF

SOUTH EAST

Dormant 2017 Limited (formerly Spectrum Financial Services Limited), REGENT HOUSE, MITRE WAY, STATION APPROACH, BATTLE, EAST SUSSEX, TN33 0BQ

ACS Used Car Trade Centre (t/a Acra Trading), 333 MILLBROOK ROAD, SOUTHAMPTON, HAMPSHIRE, SO15 0HW

SOUTH WEST

NHM Limited (t/a Exeter Daewoo), 8 TRUSHAM ROAD, MARSH BARTON TRADING ESTATE, EXETER, DEVON, EX2 8QH

Kingsland Financial Management LLP, 5 PORTLAND SQUARE, BRISTOL, SOMERSET, BS2 8RR

EAST OF ENGLAND

Quest Mortgage Solutions Limited, 8 MIDLAND WAY, HENLOW, BEDFORDSHIRE, SG16 6FH

Total Wealth Solutions Limited, THE MANSION HOUSE, WREST PARK, SILSOE, BEDFORDSHIRE, MK45 4HR

NORTH WEST

Simply Mortgages, 61 HAMILTON SQUARE, BIRKENHEAD, MERSEYSIDE, CH41 5AT

The Ntrust Group Limited (formerly KBS Oakes Financial Planning Limited), APARTMENT 14, 1 LLOYD STREET, ALTRINCHAM, GREATER MANCHESTER, WA14 2DD

Vitalaction Limited, 1 ALLERTON ROAD, MOSSLEY HILL, LIVERPOOL, MERSEYSIDE, L18 1LG

Hamilton Locke (Subsidiary) Limited (formerly Hamilton Locke & Co Limited), 1ST FLOOR, MARSLAND HOUSE, MARSLAND ROAD, SALE, CHESHIRE, M33 3AQ

Alan Gregson & Company, 20 LONG MEADOW, HESWALL, WIRRAL, MERSEYSIDE, CH60 8QQ

SCOTLAND

MAGIC Scotland Limited, INVERCLOY, 69 ROUND RIDING ROAD, DUMBARTON, DUNBARTONSHIRE, G82 2HX

Philpott Reed Partnership LLP, 1 RACECOURSE VIEW, AYR, AYSHIRE, KA7 2TS

WALES

Castle Court Consulting Limited, 3 PARK MEWS, PARK PLACE, CARDIFF, SOUTH GLAMORGAN, CF10 3DQ

February 2018

SOUTH EAST

Fox and Co Limited, 2H3 WESTMEAD HOUSE, FARNBOROUGH, HAMPSHIRE, GU14 7LP

SOUTH WEST

S & R Motors Limited, A419 CALCUTT, SWINDON, WILTSHIRE, SN6 6JR

Advanced Financial Management (t/a Castle Asset Management), CROWN LODGE, CROWN LANE, CREECH HEATHFIELD, TAUNTON, SOMERSET, TA3 5EU

EAST

The FG (IFA) Limited (t/a PMI Independent Financial Advisers/The Financial Group), UNIT 11, 33 NOBEL SQUARE, BASILDON, ESSEX, SS13 1LT

EAST MIDLANDS

Baker Wainwright Limited, 65 HEANOR ROAD, ILKESTON, DERBYSHIRE, DE7 8DY

WEST MIDLANDS

Ocean Money (II) Limited (formerly Marlborough Loans Limited), PACIFIC HOUSE, RELAY POINT, WILNECOTE, TAMWORTH, STAFFORDSHIRE, B77 5PA.

Important note: not to be confused with Ocean Finance which offers credit cards and mortgage / loan broking under the Ocean, Ocean Finance and Ocean Mortgages brands, based in Think Park, Mosley Road, Trafford Park, Manchester – this company is not in default.

YORKSHIRE AND THE HUMBER

Town & City (Financial Services) Limited (formerly Town & City Brokers Limited), JOLIFFE CORK & CO., 33 GEORGE STREET, WAKEFIELD, WEST YORKSHIRE, WF1 1LX

NORTHERN IRELAND

Kellands Nothern Ireland Limited (formerly Kelland Forster and Vallely Limited), 212-218 UPPER NEWTOWNARDS ROAD, BELFAST, COUNTY ANTRIM, BT4 3ET

The Property Package t/a AA Mortgages, 9 ST. COLMANS PARK, NEWRY, COUNTY DOWN, BT34 2BX

Jargon Buster

  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.