FSCS can only consider claims relating to home finance (e.g.mortgage)advice and arranging on or after 31 October 2004 and only against firms that were fully authorised at the date the advice was given. You can check whether a firm is authorised by using the FCA's firmcheck service.
The main area of home finance advice that may give rise to a claim falling within the remit of FSCS relates to the suitability of that advice for the customer's circumstances at the time.
Examples of unsuitable home finance (e.g.mortgage) advice and arranging that may give rise to claims within the scope of FSCS include:
FSCS has not yet received a claim falling under the Mortgage Advice and Arranging Sub-scheme, and no firms have been declared in default under this Sub-scheme.
FSCS can pay up to £50,000 in compensation per person per claim.
The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).