FSCS in-default register

Midland Independent Financial Services Ltd

Declared in default25 January 2022FRN 304129

What this means for you

Because Midland Independent Financial Services Ltd has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

Midland Independent Financial Services Ltd, which operated under the trading name The Mortgage Shop Ltd (FRN: 304129), provided pension advice, pension transfer services, and SIPP administration. The Financial Services Compensation Scheme declared the firm in default on 25 January 2022. Eligible customers may be entitled to compensation of up to £85,000 for pension-related investment losses.

Products this firm wrote

Pension advicePension transferSIPP administration

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.