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Using the Unclaimed Assets Register

By: Garry Crystal - Updated: 4 Oct 2017 | comments*Discuss
 
Unclaimed Assets Register Lost Assets

The Unclaimed Assets Register (UAR) is a service that helps individuals connect with companies that may hold their lost or forgotten assets. These assets can include pensions, life policies, dormant accounts and lotteries.

What is the Unclaimed Assets Register?

The Unclaimed Assets Register is basically a database of members of the public who have unclaimed assets. Individuals who are trying to search for lost or forgotten about assets can use this database to search and view if they are owed any assets. The search can pull up information on pensions, life policies, shares, national savings and lotteries. According to the company there is an estimated 15 billion pounds in unclaimed UK assets.

Who Operates the Unclaimed Assets Register?

The Unclaimed Assets Register is run by Experian, one of the biggest credit reference agencies in the UK. Customer credit checking for lenders and customer credit references are the major business services undertaken by Experian. If a customer wants to view their credit record this service can be supplied though Experian. If a lender wishes to check up on a customer’s credit record then this is a service Experian will provide.

How Does the Unclaimed Assets Register Work?

Basically, an individual who is trying to trace assets can search the Unclaimed Assets Register by completing an online application form. By providing personal details a search can be made of many financial institutes such as banks, building societies, pension services and insurers. Customers also have the choice of printing out the application form and sending it to Experian by post. Once the search has been completed the customer will be notified if there are any unclaimed assets in their name.

Is There a Fee For This Service?

Yes, customers who wish to use the database will be charged £25 for a search. The register can also be used to search for deceased relatives unclaimed assets. Proof of the legal entitlement to claim these assets will be required. A list of the database members (financial businesses) is available on the Unclaimed Assets Register website. According to the website this list is being expanded with the hope that it will soon contain every available financial business that could hold unclaimed assets in the UK.

If No Assets Appear in a Search Does This Mean I Have No Unclaimed Assets?

This is not necessarily the case; a blank result could simply mean that companies that do hold the customer’s unclaimed assets are not yet on the database. The UAR claim that they should be able to help people who have forgotten the company’s name where a policy was held. It may also be the case that a deceased relative has a life policy but did not inform their relatives. The database is not definitive, which is why companies are being added to the existing database.

Should I Be Concerned About Giving Personal Details to a Credit Reference Agency?

Privacy rules are set out by the UAR under a privacy statement. But some of these privacy rules do seem a little vague. For instance the UAR claims that the information collected is used for customer and marketing research and identifying potential customers. The privacy statement also states that if a customer wishes to receive details on the customer information collected by the UAR they will have to pay a £10 fee. The privacy statement also claims that changes can be made to the privacy rules from time to time without prior customer notification.

Are There Other Free to Use Lost Assets Resources?

Online lost assets search facilities are available to the public without the requirement of a fee. This can include the My Lost Account service, which basically checks for inactive accounts with the majority of Britain’s banks and building societies. The two services can be used in conjunction with one another to give a greater diversity of financial businesses when searching for unclaimed assets.

What Are the Chances of Finding Lost Assets Through the Unclaimed Assets Register?

Anyone who has changed addresses or opened new accounts without closing down old accounts may have a chance of finding unclaimed assets. People who have moved jobs and have a memory of having paid into company pensions at previous jobs may also have lost pensions. It’s not unusual for companies to change owners and change names and customers then think the original company has disappeared. There is always the chance that there may be unclaimed assets, and a search using a database such as the UAR may help to reveal them.

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[Add a Comment]
@jay - twelve years would have had have to elapsed after he died before the people who claimed it, claimed adverse possession. I don't blame you offloading. The only slightly positive thing is that it happens a lot less now as people are a bit more clued-up regarding what's going on. It's sad though. I imagine your uncle would be turning in his grave at the thought of it :(
Mac - 5-Oct-17 @ 3:26 PM
My family owned land for over 100 years.My late very elderly and privateuncle managed it but as he got older he let it slip and it got 'claimed'-when he died the solicitors found the deeds in their possession. and we found it had been taken. the time had elapsed and further bereavements tookprecedence-how depressing to find there is diddly squat anything can be done about theft of a lovely piece of land-now with a revolting 300k house on it. Its legalised theft and abuse of vulnerable and elderly owners. You would not believe how much theft has been perpetrated againstmy family (more than this) and how theives get away with it and solicitors spend more time looking after their interests than any truth or justice. yes we have had terrible experiences with this sort of thing.- nice to offload a bit :-(
jay - 4-Oct-17 @ 7:30 PM
I've done some research on my family. I went all the way back to the year 1030 and I can link myself to Gamble Lord Musgrave who served under king William and fought in the battle of Hastings. Regardless I also found out he had grants, and land and other documents held in the court. How do I go about searching if I have any assets to claim?
Jess - 10-Jul-17 @ 1:06 PM
my friends hav been on some land for over 15yrs, had a eviction about 14yrs ago but everyone moved back after a month, the land has been continuously squatted since, it has been to court once (2yrs ago?)& hav proved the land has been continuously in use since, is there chance being grated rights?
abige69 - 7-May-17 @ 12:58 PM
Hi my neighbour died about 5 years ago before he died he said he was leaving the house to me I have 2 witness that he said thiswe have contacted his relations but they don't seem interested the house need a lot of money spent on it i have kept the garden for 15 years and put new grass down have a garage on the ground aswell there was no will is ther any way i have a claim on the house we are getting damp comming in and the neighbours on the other side are aswell I live in Scotland
Wus - 15-Jan-17 @ 4:54 PM
Claire - Your Question:
HiMy husband whom I have been separated from for 6 years was told he had some money £32000 from something and my son saw the letter. It said as I was still married to him I was entitled to half.He has not spoken to me for over 3 years and would never want me to have any of this money. Is there a way I could find out who it is from and claim it?

Our Response:
You should take legal advice regarding this. If you are still married it is likely you will have rights to a share of this money as you are not divorced and therefore don't have a 'clean break' agreement. A solicitor would be able to recommend a a course of action.
UnclaimedFinances - 14-Dec-16 @ 11:17 AM
Hi My husband whom I have been separated from for 6 years was told he had somemoney £32000 from something and my son saw the letter. It said as I was still married to him I was entitled to half. He has not spoken to me for over 3 years and would never want me to have any of this money. Is there a way I could findout who it is from and claim it?
Claire - 13-Dec-16 @ 3:34 PM
Checking to see iff I have any money left over when the bank took this and sold it on
Spower - 2-Oct-16 @ 12:36 AM
lou - Your Question:
How do I find out if my Father had left anything to me in his will?He died in the prison hospital, I had no contact with him since he murdered my mother, but my brother did and I don't know if he got him to change his will before he died. I was meant to be the executor of his original will.

Our Response:
The gov.uk site hereand here may help.
UnclaimedFinances - 25-Jul-16 @ 10:05 AM
How do I find out if my Father had left anything to me in his will? He died in the prison hospital, I had no contact with him since he murdered my mother, but my brother did and I don't know if he got him to change his will before he died. I was meant to be the executor of his original will.
lou - 24-Jul-16 @ 12:21 AM
curley - Your Question:
I am interested in making a claim on some land how do I go about it?

Our Response:
I have included a link to the article, The Facts on Unclaimed Land and Property in the UK, herewhich says: 'Claiming unregistered property or land is not a simple process. In order to claim abandoned land a person must first have taken possession of the land. This means erecting fences around the land and occupying it for a certain period of time, this is known as adverse possession. The adverse possession period is 10 years for registered land and 12 years for unregistered land. The person must also be able to prove that they have been in adverse possession for this amount of time. Only then will they be able to register with the Land Registry.'
UnclaimedFinances - 25-Jan-16 @ 9:51 AM
I am interested in making a claim on some land how do I go about it?
curley - 24-Jan-16 @ 12:17 AM
We moved to Thanet six months ago and knew that an elderly lady lived next door.Neighbours told us that the house was near derelict. She has now died in the property and we would like to know what will happen next with the property?It has been boarded up and the police said that the council will come and clear it and deal with any wildlife that is almost certainly there.But what happens next - would we be able to buy it? if so how?
oafs - 22-Jan-16 @ 9:02 PM
@Gabi - you may be able to, as some policies pay out on death. Have you got his old bank statements and can you see if he was still paying it and who to?A lot of endownment companies have either changed names or merged, so it makes it even more difficult to try to locate. My Lost Account may also be able to help, link here, or at least point you in the right direction. I hope this helps.
UnclaimedFinances - 20-Apr-15 @ 10:53 AM
My Brother died just over 2 years ago . I am aware that there is an unclaimed endowment policy in his name , I have know idea which company this was with as all paper workhas been lost.I have got legal rights over my brothers assets . would I be able to trace this and claim it back
Gabi - 17-Apr-15 @ 12:12 PM
My stepmother has recently died, I am an executor of the will and I want to check if there are any financial accounts I do not know about. How do I check for them
Mick - 21-Apr-14 @ 9:06 AM
Hi, I was in the Army from 1963, and believe I paid into a forces pension fund for nearly 12 years, just short of the minimum time required for getting a basic pension. As such, I paid in but receive no benefit, can I obtain a refund, and from whom? Thanks, Regards, Mac McClaren
Mac - 10-Apr-14 @ 12:25 PM
Hello, I'm hoping you can help me. My stepdad received a telephone call from a Real Estate in Cap Ferrat, France several years ago after his mother died. He was informed that his father had left a Chateau to him (under French law goes to child not wife). His mum knew nothing about this property but his dad used to work over there. Sadly, his dad (Charles Hendy) died when my stepad was 10yrs who is now 54yrs but his mother died a few years ago (which is when he found out about it). We prepared a letter (in French) and sent it to the Mayor of Cap Ferrat and never heard back but I'm conscious that France will be able to reclaim the property if my stepdad doesn't claim it. However, the language is the barrier and the English speaking lady from the Real Estate who contacted him a few years ago had now left. Have you any idea how my stepdad (Gary Alan Hendy) should go about claiming this property? I look forward to hearing from you. Marina Turner
Mimi - 23-Sep-12 @ 9:35 AM
I have payed in allsorts of pensions and life insurances and have moved on and forgotten about them how do I try to track and find them?
steve - 20-Sep-11 @ 8:57 PM
Can I find out if a solicitor has commited a fraud in my grandfather and father's wills? I have the bill of sale for my father paying off the mortgage but no proof of my father selling the property. Thank you.
sam - 3-Aug-11 @ 8:54 AM
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