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.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.