FSCS in-default register

Option 1 Mortgages Ltd

Declared in default2 October 2016FRN 300461

What this means for you

Because Option 1 Mortgages 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

Option 1 Mortgages Ltd (FRN 300461) was declared in default by the Financial Services Compensation Scheme on 2 October 2016. The firm's specific product offerings are not recorded in available data. Eligible customers may be entitled to compensation of up to £85,000 under FSCS protection for mortgage-related claims.

Products this firm wrote

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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.