The Financial Services Compensation Scheme (FSCS) has confirmed 11 firms in default.
This means that consumers can now see if they are owed money by the firms and protected by the lifeboat fund.
The firms include mortgage and pension firms that are listed below:
- A to Z Mortgages Limited t/a Dunure Asset Management
- Briggs Murray Financial Planning & Wealth Management Ltd t/a Briggs Murray Wealth
- City of Plymouth Credit Union Ltd
- Integrity IFA Limited t/a Dewar and Partners, Scottish Landlords Insurance, Wood and Ker
- Juno Moneta Capital Management Limited formerly Corcillum Limited t/a Morgan Peterson, BL Financial
- Keywood Olley & Associates Limited t/a North East Mortgages, EMH Financial Planning
- North East Warrington Credit Union Ltd
- Rainbow Saver Anglia Credit Union Ltd
- Rajan Business Centre Limited
- Westbury Private Clients LLP
- Whitebridge Financial Planning Limited
FSCS chief of staff Debbie Stimpson said: “With rising costs being seen everywhere it is more important than ever that people are supported to get back on track if they lose money when a financial firm fails.
“We know that it can be stressful for customers when a firm that owes them money stops trading and our experienced claims team are here to help during these difficult times. We encourage people to claim directly with FSCS via our website where they can access our easy-to-use claims service for free.”
According to the FSCS it has supported more than 6.5m customers to claim compensation since it was established in 2001.
Its recent report, The balancing act of compensation, explores how contribution to a future compensation framework might work.
That said savers and investors have been undercompensated to the tune of £1bn over the last six years as a result of the cap on compensation payouts.
At the end of May the FSCS slashed its annual levy to £625m due to a reduction in expected claims.
This resulted in surpluses being carried forward into 2022/23.
Stimpson added: “We’re proud of the vital role FSCS plays in protecting consumers and helping to maintain trust and confidence in the financial services sector.”