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Two mortgage brokers among 11 regulated firms in default in June

  • 18/07/2019
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Manchester brokerage DFD Mortgages and Twickenham-based adviser Barchester Green are two of the 11 firms declared insolvent by the Financial Services Compensation Scheme (FSCS) yesterday.

A declaration of default means the FSCS is satisfied the firm is unable to pay compensation claims made against it. Under these circumstances, consumers may make claims to the FSCS instead.

The other nine firms listed, which were largely wealth management adviser firms, include John B Carr Financial Services, Castle Asset Management, K.G.J. Garages, The Carnation, Kevin Neal Associates Wealth Management LLP, The Wealth Partnership, KWS Wealth Management Limited, Bradford Peters Financial Services and Hayden Williams Independent Financial Services.

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 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.”

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

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