financial services compensation scheme (fscs)

We are part of the Financial Services Compensation Scheme (FSCS) which was set up under the Financial Services and Markets Act 2000.  You may be entitled to compensation from the scheme if we cannot meet our obligations.  This depends on the type of business and circumstances of the claim.

Shares and deposits
Payments under the scheme are limited to a maximum of 100% of the first £35,000 of an investor's total shares or deposits in a society.  Most investors are covered, including individuals and small firms.  A small number of categories of shares and deposits are not covered.  Although most shares and deposits are in sterling, all other currencies are covered.

Mortgage advising and arranging
Mortgage advising and arranging is covered for the first 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.

Insurance advising and arranging
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.

For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.

Further information about compensation scheme arrangements is available from FSCS.