What are lost assets ?

An asset is a broad term and can mean anything from funds in a bank account, to stocks and shares, pensions and National Savings & Investments. A lost asset exists when the administrator of the records of the asset has reason to believe it holds out of date records for the asset owner.

Assets are most often lost or forgotten when people move home or change job and lose documents or when an account is set up by one person for someone else. Assets can also be lost when someone dies and there is no record of the investment held in the possessions of the deceased.

These assets are not subject to challenge over ownership but require action to ensure the administrator of the records has up to date details. ProSearch provides a simple service to enable this to be done.

It is estimated that there is up to £20 billion of lost assets lying dormant in UK financial institutions. For over 30 years ProSearch has been successfully helping its clients to be reunited with all ranges of lost assets.

Did you know:

In March 2021, The Office for National Statistics reported that the number of residential property sales in England fell by 23.8% to 609,518 and in Wales fell by 29.6% to 32,700 in the year ending September 2020.
The median distance moved by UK homebuyers in 2020 was 10 miles, an increase of 1 mile from 2019 average.
The top 5 locations where the most properties were bought in 2020 were: London (17%), Leeds (1.7%), Birmingham (1.65), Bristol (1.6%) and Leicester (1.3%).
In 2020, over 600,000 deaths were registered in England and Wales.

What are lost assets?

An asset is a broad term and can mean anything from funds in a bank account, to stocks and shares, pensions and National Savings & Investments. A lost asset exists when the administrator of the records of the asset has reason to believe it holds out of date records for the asset owner.

Did you know:

ProSearch has reunited assets, with a value in excess of £1 billion to their owners, or to the executors and beneficiaries of deceased estates.

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