Thursday, 12 July 2018 15:53

FSCS declares 8 firms in default

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The Financial Services Compensation Scheme, the consumer protection body, has declared eight firms in default, opening the door to consumers getting back money they have lost as a result of dealings with the failed firms.

The firms were declared in default during June.

The FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services firms. Since it began in 2001, it has helped more than 4.5m people, paying out more than £26bn in compensation.

A declaration of default means the 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 to the FSCS.

Alex Kuczynski, chief corporate affairs officer at the 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.” 

The firms declared in default by the FSCS in June are:

Greater London

Indigo Outsourcing Limited formerly Indigo Mortgage Brokers Limited, 5th Floor, Broadmead House, 21-23 Panton Street, London, SW1Y 4DR

South East

Principal Marketing and Insurance Services Limited, Principal House, 6 Chertsey Road, Woking, Surrey, GU21 5AB

South West

Professional Financial Advisers of Cheltenham Limited, Financial Advisory Centre, Lansdown Place Lane, Cheltenham, Gloucestershire, GL50 2LB

West Midlands

Squirrel PFA Limited, SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands, B74 2UD

Yorkshire and the Humber

Brian Leighton (Garages) Ltd, Boothferry Road, Howden, Goole, North Humberside, DN14 7TA

Pentagon Independent LLP, The Grange, Wheldrake Lane, Elvington, York, North Yorkshire, YO41 4AZ

ICF Group Ltd formerly t/a Kennett ICF, Medina House, 2 Station Avenue, Bridlington, East Riding Of Yorkshire, YO16 4LZ


Fergus Burns formerly t/a The Financial Planning Partnership, 13 Borthwick Place, Balmullo, St. Andrews, Fife, KY16 0EB

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