FSCS in-default register

Palace Motor Finance Ltd, previously London & Surrey Motor Finance Ltd

Declared in default4 September 2020FRN 309545

What this means for you

Because Palace Motor Finance Ltd, previously London & Surrey Motor Finance 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

Palace Motor Finance Ltd (FRN 309545), previously operating as London & Surrey Motor Finance Ltd, provided general insurance and insurance contracts to customers. The Financial Services Compensation Scheme declared the firm in default on 4 September 2020. Former customers holding insurance policies may be entitled to FSCS compensation of up to 90% of their claim with no upper limit.

Products this firm wrote

General insuranceContracts of insurance

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.