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Mortgage adviser declared in default by FSCS

  • 21/02/2019
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Mortgage adviser declared in default by FSCS
A mortgage advice firm is among the latest businesses declared in default by the Financial Services Compensation Scheme (FSCS).


The Mortgage Matters Partnership was based in Altrincham in Cheshire.

The firm has previously fallen foul of the FCA, having been ordered to write to customers to offer them redress after admitting it may not have fully considered the costs and implications surrounding debt consolidation mortgages it advised on between 2007 and 2014.

Complaints against the firm had also led to rulings against the adviser from the Financial Ombudsman Service, though last year the FCA stepped in to suggest clients instead go to the FSCS with their issues.

Three financial advisers were also named on the latest default list by the FSCS: Glasgow-based Allan McRoberts, Montpelier Group (Europe) which was based in Solihull, and Balfour Group which operated from Edinburgh.

Earlier this week, the FSCS revealed how it was planning to tackle erroneous claims targeting mortgage brokers.

This came following a spike in claims against mortgage brokers last year largely made-up of complaints about advice to remortgage and then invest in overseas property generated through one unnamed claims management company.

Commenting on the latest defaults, Alex Kuczynski, chief corporate affairs officer 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, insurance, investments, home finance and debt management.

“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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