FSCS declares 35 firms in default in 3 months
The Financial Services Compensation Scheme (FSCS) has declared 35 failed regulated firms in default.
The failed firms were adjudged to be in default between 1 August and 31 October, which means consumers could get back money they have lost as a result of their dealings with any of the firms.
FSCS protects customers of authorised financial services firms that carry out certain regulated activities.
A declaration of default means 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 with FSCS.
Caroline Rainbird, FSCS's chief executive, said: “FSCS's role is to help people who have lost money as a result of doing business with an authorised firm if that firm is unable to meet claims made against it.
“The existence of FSCS helps to instil confidence in the financial services sector by ensuring customers can get the compensation they are entitled to when a firm fails.
“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 you.”
Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.
Declarations of default by FSCS:
August 2019 - 13 firms:
Greater London:
• Advanced Vehicle Sales Limited, 5-7 Clarence Road, London N22 8PG
• FIXI Plc, Atlas House, 1-7 King Street, London, EC2V 8AU
• Rex Judd Limited, 415 Burnt Oak Broadway, Edgware, Middlesex HA8 5AH
• Valiant Financial Consultants Limited, Valiant House, 12 Knoll Rise, Orpington, Kent BR6 0PG
• Wheelpower Bike Centre Limited t/a Aprilia Wheel-Power, 264 Grand Drive, London SW20 9NE
South East:
• Burnham Garage Limited t/a Burnham Hyundai, Burnham Vauxhall, Burnham Suzuki, Windsor Vauxhall, 87-89 Farnham Road, Slough, Berkshire, SL1 4UN
East of England:
• Eastern Direct Finance, 4 Redwing Drive, Stowmarket, Suffolk IP14 5FN
East Midlands:
• Steptime Limited t/a Peter Brooks Honda, 918-920 Chesterfield Road, Sheffield, South Yorkshire, S8 0SH
• Taz Motorcycles Limited, 93 Queen Street, Sheffield, South Yorkshire, S1 1WF
West Midlands:
• Colmore Cars (2000) Limited t/a Colmore 2000, 1163 Chester Road, Erdington, Birmingham, West Midlands, B24 0QY
North East:
• N-Hanced LLP, 3 Carlton Court, Fifth Avenue, Team Valley, Gateshead, Tyne and Wear, NE11 0AZ
North West:
• AETC Associates Limited, 106 Main Street, Wilsden, Bradford, BD15 0AB
Scotland:
• Bellfield Financial Services Limited, formerly Kirkintilloch Insurance Services Limited, 23 Moncrieffe Avenue, Lenzie, Glasgow, G66 4NL
September 2019 - 13 firms:
Greater London
• St Martin's Partners LPP formerly CUOX LLP, Carter Clark Recovery House, 15-17 Roebuck Road, Hainault Business Park, Ilford, Essex, IG6 3TU
• Strathearn Insurance Services Limited t/a Strathearn Insurance, Suite 92, 100 Westminister Bridge Road, London, SE1 7XB
South East
• East Sussex Motor Centre, London Road, Uckfield, East Sussex, TN22 2EA
• Property Finance Solutions (UK) Limited, 18 Farncombe Close, Wivelsfield Green, Haywards Heath, West Sussex, RH17 7RA
• Southern Honda Limited, 27-43 Ifield Road, Crawley, West Sussex, RH11 7AT
• WSW Financial Services Limited t/a WSW Wealth Management Suite 2, 2nd Floor Phoenix House, Brighton, BN1 2RT
South West
• Bristol Finance & Warranty Limited, Glen Fern House, Carsons Road, Bristol, BS16 9LP
• Haxby's of Plymouth Limited, 22-24 Valley Road, Plymouth, Devon, PL7 1RF
North West
• Blackstone Independent Financial Advisers Limited, 22b Station Road, Cheadle Hulme, Cheshire, SK8 7AB
• Financial Provision Solutions Limited formerly PSTG Solutions Limited, Belgrave Place, 8 Manchester Road, Bury, Lancashire, BL9 0ED
• Motormile Finance Limited formerly Index Link Limited, Hazelcroft, 322 Harrogate Road, Bradford, West Yorkshire, BD2 3TB
West Midlands
• CPPT Services Limited formerly Central Financial Planning Limited, 1 Dairy Barns, Nut Hurst Grange Lane, Hockley Heath, Solihull, West Midlands, B94 5NL
• Ask Finance Limited, Deloitte LLP, Four Brindley Place, Birmingham, West Midlands, B1 2HZ
October 2019 - 9 firms:
South East:
• Gowrings of Newbury Limited, The Triangle, Newbury, Berkshire, RG14 7HT
• KBW Associates Limited, The Joiners Shop, The Historic Dockyard, Chatham, Kent, ME4 4TZ
South West:
• Gerard Associates Limited, c/o PCR (Bristol) LLP, The Basement, 77A Alma Road, Clifton, Bristol, BSB 2DP
East Midlands:
• D. A. Vincent Limited t/a Ethical Investments Limited, Cedar House, 100 Whirlowdale Road, Sheffield, South Yorkshire, S7 2NJ
• First Rate Home Finance Limited formerly S&P Finance Limited, 17 Station Road, Hinckley, Leicestershire, LE10 1AW
North West:
• Ormskirk Motors Limited t/a Ormskirk Vauxhall t/a Planet Finance, 20 Winmarleigh Street, Warrington, Cheshire, WA1 1JY
Wales
• Jacksons Cars Limited, Deloitte LLP, 5 Callaghan Square, South Glamorgan, Cardiff, CF10 5BT
• Ron Treherne IFA Limited, 15 Lon Werdd, South Glamorgan, Cardiff, CF5 4SS
Scotland
• A Millward & E Millward t/a City Gate Consultants, 85 Claremont Street, Lanarkshire, Glasgow, G3 7HU