Government scheme could step in to compensate customers of bust Northants mortgage firm

The Executive Mortgage Company Limited, based in Upper Stowe, above, has gone bust. Customers might be entitled to compensation. Editorial image only.

The Executive Mortgage Company Limited, based in Upper Stowe, above, has gone bust. Customers might be entitled to compensation. Editorial image only.

A compensation scheme is seeking people who may be owed money from a failed Northamptonshire mortgage firm, as they may be entitled to a payout.

The Financial Services Compensation Scheme (FSCS) is seeking customers who had dealings with the The Executive Mortgage Company Limited, a firm which operated form Main street, Upper Stowe.

The FSCS has recently declared the company “in default” which means it does not have the means to pay claims for compensation made against it.

However former customers could be entitled to money back under the FSCS, a government scheme which helps protect customers of regulated financial services firms.

FSCS head of communications Mark Oakes, said: “FSCS protects consumers around the UK when authorised financial services firms go bust. 
“It protects your deposits, investments, home finance and insurance, and it’s free for consumers to use.

“Our message to anyone who believes that they may be owed money as a result of their dealings with any of these firms is please get in touch as we may be able to help you.”

Since its inception in 2001, FSCS claims to have helped more than 4.5 million people, paying out more than £26 billion in compensation.

The scheme can pay for financial loss if a firm is unable, or likely to be unable, to pay claims against it.

If you wish to make a claim with FSCS, contact the customer services team on 0800 678 1100 or 020 7741 4100. You can also email them at enquiries@fscs.org.uk.

For more information visit www.fscs.org.uk or follow @FSCS News.