Pembrokeshire Mortgage Centre Ltd was an independent financial advisory firm that was one of the companies associated with the British Steel Pension Scheme scandal.
Pembrokeshire Mortgage Centre Ltd exploited the uncertainty that surrounded Tata’s Steel decision to sell its UK business in 2016, by advising many British Steelworkers to swap their defined benefit pension into risky investments and SIPP products losing valuable accrued benefits when they did. They were incorporated as a private limited company on 27 February 2003 and formally dissolved on 21 September 2020.
Pembrokeshire Mortgage Centre Ltd traded under the name of County Financial Consultants. Their last accounts were made up to 31 December 2018, and their last annual return was made up to 27 February 2016. The company had 9 officers and 7 resignations during its time in operation:- Morgan, Denis Lee (active); Poole, Ian (Active); Dewhurst, Gareth Lee (resigned) Upham, Gareth Tony(resigned); Same-Day Company Services Limited (resigned); Dewhurst, Gareth Lee (resigned); Pugh, David John, Cllr (resigned); Upham, Gareth Tony (resigned); Wildman & Battell Limited (resigned).
Were you mis-sold pension funds by Pembrokeshire Mortgage Centre?
The company is a failed firm in liquidation and you will not get a penny from them. However, the government has made compensation available for people like you.
The Financial Services Compensation Scheme (FSCS) is accepting claims about Pembrokeshire Mortgage Centre Ltd. Were you mis-sold SIPP or investment products by any of the advisors at Pembrokeshire Mortgage Centre Ltd? If so, you may qualify for mis-sold pension or SIPP compensation from the Financial Services Compensation Scheme (FSCS).
What did Pembrokeshire Mortgage Centre Ltd do wrong?
Pembrokeshire Mortgage Centre Ltd is one of the companies associated with claims regarding the British Steel Pension Scheme (BSPS).
During 2017, many British Steelworkers were advised to transfer out of their defined benefit pension into a defined contribution pension, known as a Personal Pension Plan or a Self-Invested Personal Pension (SIPP).
Sadly, many British Steelworkers received negligent advice to transfer their desirable final salary pension to an inferior private plan. Many of which were then invested in high-risk esoteric funds that failed.
British Steel employees received enviable pensions. These were often final salary pensions, which keep pace with inflation. When the cost of living increases, your monthly income increases as well, and they don’t have fees or extra costs. Best of all, a final salary pension (also known as a defined benefit pension) lasts as long as you live.
By transferring to a private pension arrangement, British Steel employees would have lost the benefits already built up in the British Steel Pension Scheme. It may not have been realistic to achieve the same level of benefits from their new plan. These private pension schemes are limited – when the pot runs out, it runs out, which could leave you destitute in your golden years. Since they’re tied to the market, these risky pension plans can dwindle to zero overnight. You are also charged high annual fees and commissions.
FSCS Pembrokeshire Mortgage Centre Ltd claims
Pembrokeshire Mortgage Centre Ltd has been declared in default by the Financial Services Compensation Scheme and they can no longer pay out any returns. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about Pembrokeshire Mortgage Centre Ltd. Fill in our online application form to get started.