Are you in line for a FSCS payout?
Savers and investors struggling to seek compensation from 17 financial services companies the Financial Services Compensation Scheme (FSCS) has said are in default could get be entitled to help.
The FSCS has today listed all 17 firms, which are located across England and Scotland, are unable to pay claims for compensation made against them. However, as they are regulated by the Financial Conduct Authority, the FSCS can help affected customers get their compensation through its free service.
The FSCS has already started paying compensation in respect of the defaulted firms but Mark Oakes, spokesperson for the scheme, said: "If anyone believes that they have lost money as a result of their dealings with any of the defaulted firms, please get in touch with FSCS, as we may be able to help you."
Since April 2013, FSCS has paid out more than £65 million in compensation.
Set up by the government, the scheme is funded by the financial services industry and protects consumers’ insurance, investments, deposits and mortgage advice and arranging. Limits apply to how much compensation the FSCS is able to pay, and those limits vary between different types of financial products.
If you think you have a claim, call the FSCS’s freephone numbers on 0800 678 1100 or 020 7741 4100.
Here’s the full list of the 17 companies in default by region
Investments: Michael Mott Financial Services Limited, Liverpool
General insurance: Next Loans Limited, Stockport
General Insurance: Stickney Limited T/A F Tempest & Sons Stickney Limited,
Investments: Dawson Select Financial Services Limited, Northampton
Home Finance: Dowry Limited, Sutton Coldfield
General insurance: HTC UK Limited, Ripley
Life and pensions: M.B. Smith & Co (Life & Pensions Consultants) Limited, Shropshire
Life and pensions: Jeremy Brow Mortgage & Financial Services, Ipswich
South East and London
Investments: Devereux Klein Financial Management Limited, High Wycombe.
Nationwide Financial Services Limited, Norbury, London.
General Insurance: APTCO Trading Limited formerly Your Personal Finance Limited, Fareham, Hampshire. G Degun trading as GSD Associates, Loughton, Essex. Mill Lane Engineering (Aldershot) Limited, Aldershot, Hampshire.
Investments: A K & Associates Limited, Bristol. Collingwood Mourton Associates Limited, Cheltenham.
General insurance: Hisfrank Limited formerly Bristol Trade Centre Limited, Bristol.
Life and pensions: The Stewart Partnership, Glasgow.
The Financial Services Compensation Scheme is the compensation fund of last resort for customers of authorised financial services firms. If a firm becomes insolvent or ceases trading, the FSCS may be able to pay compensation to its customers. Limits apply to how much compensation the FSCS is able to pay, and those limits vary between different types of financial products. However, to qualify for compensation, the firm you were dealing with must be authorised by the Financial Services Authority (FSA).