Is my mortgage protected?
Changing your mortgage can seem like an ideal way to reduce your monthly outgoings and manage your debts. But what if you’re given bad advice about what mortgage is right for you and you end up losing money?
FSCS protects mortgage advice. If your regulated adviser fails and you lost money because they recommended a mortgage that wasn’t right for you, you could claim compensation with us. Just make sure that any adviser you use is FSCS protected before you do business with them.
How can I check if my adviser is FSCS protected?
Search the Financial Conduct Authority (FCA) register using your adviser’s firm reference number (FRN) for the most accurate results. Find the FRN in your paperwork or emails, or ask your adviser if you can’t find it. If the FCA search results show the adviser’s status as ‘authorised’, FSCS may be able to compensate you if they fail.
We may be able to compensate you for mortgage advice you received after 31 October 2004 and endowments you were mis-sold after 28 August 1988, if you’ve lost money as a result, and the advisor has since failed.
- £85,000 per eligible person, per firm.