I got shot down on another site for daring to say that the traditional colours for Faireys were dark blue and white. The fact that most full-size and models use this colour-scheme says it all!
Anyway, I went on the Fairey Owners Club forum and many of the owners of full-size boats use International Paints Oxford Blue. I decided for my models to go for something a bit brighter and chose Sapphire Blue. It's a lovely blue but maybe I should have gone for Oxford? For the white I went for Snow White which I'm very pleased with. This is using their Toplac Plus top coat and One UP primer/undercoat. It is expensive though, especially if only painting one model, but I'm not!
I have a Huntress which was built by Dave Milbourn. He sprayed it with Halfords Ford Royal Blue and Appliance Gloss White which I think is a good representation of the classic Fairey colours. He used grey primer. They do white but some have had problems with it not going hard enough and causing problems with the gloss.