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FSCS declares IFA and two mortgage firms in default

The Financial Services Compensation Scheme has named two mortgage firms and a financial adviser as insolvent during October and November.

Standish Mortgage Services, based in Wigan, failed in October, while financial advicser Castle Financial Services, based in Wolverhampton and Mortgage Match in Nottingham, failed in November.

The FSCS advises that consumers could be in line for compensation, and that if they have lost any money as a result of their dealings with the failed financial firms, they should get in contact.

FSCS chief corporate affairs officer Alex Kuczynski says: “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.”

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  1. What were the causes of the failure of Castle Financial Services?

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