Address
23 Hillary Close
East Grinstead
West Sussex
RH18 3XQ
R H 1 8 3 X Q
UNITED KINGDOM
Lifescape Mortgage Solutions Ltd
Current Status: No longer authorised
Reference Number: 302161
Website: Not Listed
Link to FCA: https://register.fca.org.uk/s/firm?id=001b000000MfRZhAAN
A firm with the status "No longer authorised" may have had its authorisation revoked by the Financial Conduct Authority (FCA) for a variety of reasons, including voluntary cancellation, failure to meet regulatory requirements, non-compliance with rules and regulations, enforcement action, failure to pay fees, or inactivity. It is important to check the FCA register or contact the FCA directly to gain more insight into a particular firm's authorisation status and the reasons for any changes.
Reasons for non-compliance may include inadequate systems and controls, poor governance, insufficient staff training, misleading or inaccurate disclosures, conflicts of interest, breaches of conduct rules, inadequate client protections, financial crime, data protection breaches, and inadequate capital or liquidity. Organizations must ensure that they have the right processes and procedures in place to identify and manage any potential risks and issues that could lead to non-compliance.
The UK financial services industry has been plagued by financial mis-selling in the past, with numerous high-profile cases involving various products and services. Examples include Payment Protection Insurance (PPI), Interest Rate Hedging Products (IRHP), endowment mortgages, and pension mis-selling. Consumers have suffered significant losses due to these mis-selling practices, with total compensation payments from banks exceeding £38 billion. The Financial Conduct Authority (FCA) has taken steps to address these issues, through enforcement actions, compensation schemes, and the introduction of new regulations to improve disclosure and transparency. However, the risk of mis-selling remains a concern, and vigilance from both regulators and the industry is needed to ensure fair treatment for consumers.
Consumers who have been mis-sold financial products or services in the UK may be eligible to claim compensation. The process for seeking compensation typically involves contacting the firm, escalating the issue to the Financial Ombudsman Service (FOS), and in some cases filing a claim with the Financial Services Compensation Scheme (FSCS). However, it's essential to act promptly, as there may be time limits for submitting claims, and it's recommended to seek independent financial or legal advice. It should also be noted that specific processes and eligibility criteria may vary depending on the financial product, service, or circumstances involved.