The Financial Services Compensation Scheme (FSCS) has revealed that seven mortgage firms have been declared in default.

A total of 67 financial firms have recently been declared in default by the FSCS and customers could be in line for compensation.

Out of the 67 financial firms, the list of mortgage or home loan firms which were announced in default include:

-    Select Mortgage Solutions, 17 Northumberland Square, North Shields, Tyne and Wear
-    Blake Independent Financial Planning Limited, Cockerham Hall, Huddersfield Road, Barnsley
-    Mortgage Shop Shoreham, 84 High Street, Shoreham-by-Sea, West Sussex
-    A2B Homeloans Limited, Foxhills Farm, Foxes Lane, West Wellow, Romsey, Hampshire
-    3i Mortgages Limited, 2 Gillespie Place, Edinburgh, Midlothian
-    Western Welsh Mortgage Services Limited, Western House, 23 Spilman Street, Carmarthen
-    P Rogers t/a Cameo House, 132 Longstone Street, Lisburn, County Antrim

A declaration of default means that the FSCS is satisfied a firm is unable to pay claims for compensation made against it and opens the way for customers of that firm to make a claim for compensation.

Mark Oakes, Head of Communications, said: “FSCS protects consumers around the UK when authorised financial services firms cease trading.

“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.”

The FSCS is the UK’s statutory compensation scheme for customers of authorised financial services firms and has helped over 4.5 million people to reclaim more than £26bn in compensation since its inception.

To read the full list of recently defaulted firms click here.