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Financial services compensation scheme: important information
The eligible deposits you hold with Principality Building Society, which is a UK-authorised building society, are protected up to a total of £85,000 by the financial services compensation scheme. Joint accounts are protected up to £170,000. Any deposits you hold above the limit are unlikely to be covered. For further information, download our information sheet about the protection of your eligible deposits, or visit www.FSCS.org.uk.
You can also call us on 0330 333 4000, or the FSCS on 0800 678 1100.
Please note only compensation related queries should be directed to the FSCS.
Mortgages
The FSCS may be able to help if a firm has advised you to enter into a mortgage agreement that wasn’t suitable for you, and you lost money as a result. The FSCS can pay compensation if that firm defaults and the maximum level of compensation is £50,000 per person per firm.
Insurance
The FSCS can pay compensation if your insurance provider fails and cannot pay valid claims under your policy or return your premiums. The types of policies covered include: Motor, home, pet, travel and payment protection insurance (PPI) as well as long term insurance policies like life insurance. Some pensions and annuities are also covered.
Some examples are:
- Home insurance and payment protection insurance: 90% of the value of your claim is covered (there’s no maximum amount).
- Death or incapacity of the policy holder due to injury, sickness or infirmity: The entire claim is covered.
Further information can be found in the leaflet How FSCS protects your money
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