How to track down your valuable lost assets
email enquiries@theia.org. For lost investment trusts, contact the Association of Investment Companies on 020 7282 5555 or via email, addressed to enquiries@theaic.co.uk.
The Unclaimed Assets Register will search millions of records from around 75 different companies for a fixed fee of £25 per search.
BANKS AND BONDS
There is an estimated £850 million sitting unclaimed in bank and building society accounts, according to the Money Advice Service. Drummond said: “These days we are less loyal to our banks than our parents or grandparents were, but this increases the likelihood of losing money as we switch.”
Free online tracing service MyLostAccount.org.uk covers more than 30 banks and all 44 building societies in the UK. “It is particularly useful in instances where a bank or building society has closed or merged, and you should get a response within three months,” he added.
It also covers National Savings & Investments, including Premium Bonds where there are an estimated 1.5 million unclaimed prizes worth more than £60 million. Check whether you have won a prize in the past by completing an online form at NSandI.com.
‘They will search their records for free, but will charge a fee for issuing a replacement certificate’
INSURANCE
Life insurance policies are designed to run for decades and are therefore easily forgotten, with an estimated £2 billion languishing in old policies, according to Unclaimed Assets UK.
You can check whether a deceased relative had life insurance by going through bank statements to see if they were paying any premiums.
CHILD TRUST FUNDS
Tax-free child trust funds were opened for children born between 2002 and
2011 with a £250 government bonus, but an estimated one million are classified as “addressee gone away”, meaning huge sums are lying around unclaimed.
You can check if one of your children is eligible at Gov.uk. You will need a Government Gateway ID, which you will already have if you submit a tax return.
LOTTERY WINS
Most people dream of winning the lottery, but there is almost £12 million worth of unclaimed National Lottery prizes. You have only 180 days to claim it, otherwise the money goes to National Lottery Projects. Check your lucky numbers at National-Lottery.co.uk.