Tracing Shares and following up Lost Account results

Tibetanterrier49

I recently opened a Lost Account search for my late father's accounts, which revealed stocks and shares with the Lancastrian Building Society, now Virgin Media. This matched a letter that I found following his death confirming that shares were held, and he was to reply to the address given. I have done this twice on his behalf, explaining my position as executor, with no response, and I have not been contacted by Virgin Media since the alert from the Lost Account service 6 months ago. Other banks were prompt to reply (some unexpectedly!).
Where do I go next?

poseidon1

Tibetanterrier49 said:

I recently opened a Lost Account search for my late father's accounts, which revealed stocks and shares with the Lancastrian Building Society, now Virgin Media. This matched a letter that I found following his death confirming that shares were held, and he was to reply to the address given. I have done this twice on his behalf, explaining my position as executor, with no response, and I have not been contacted by Virgin Media since the alert from the Lost Account service 6 months ago. Other banks were prompt to reply (some unexpectedly!).
Where do I go next?

Lancrastrian building society was absorbed by Northern Rock in 1992 and  whose  'good" assets in turn were sold to  Virgin Money ( not Virgin Media)  by the government after it went bust  and was nationalised after the 2008 financial crash.

From my recollection investors in Northern Rock got nothing after the nationalisation and sale of the 'good part' to Virgin Bank. 

If you have been liaising with Virgin Media ( broadband and mobile phone company), I am not surprised you have heard nothing since it has no links at all with Virgin Money which incidentally is now part of Nationwide building society.

As a postscript, a Northern Rock Shareholders Action Group ( NRSAG) have been continually pressing for compensation, as per 2024 submissions to a Treasury Select Committee - below

https://www.nrsag.co.uk/ws/media-library/04d8baed676b4cc9b04749faeebb2438/16-may-2024-tsc-submission.pdf

You could consider approaching NRSAG for any pertinent updates?

wmb194

Tibetanterrier49 said:

I recently opened a Lost Account search for my late father's accounts, which revealed stocks and shares with the Lancastrian Building Society, now Virgin Media. This matched a letter that I found following his death confirming that shares were held, and he was to reply to the address given. I have done this twice on his behalf, explaining my position as executor, with no response, and I have not been contacted by Virgin Media since the alert from the Lost Account service 6 months ago. Other banks were prompt to reply (some unexpectedly!).
Where do I go next?

*Virgin Money. Does it give you a hint of what stocks and shares were owned e.g., the name or type of fund(s)? Virgin Money is a sprawling organisation and knowing some detail might help to direct enquiries to the correct place.

Keep_pedalling

poseidon1 said:

Tibetanterrier49 said:

I recently opened a Lost Account search for my late father's accounts, which revealed stocks and shares with the Lancastrian Building Society, now Virgin Media. This matched a letter that I found following his death confirming that shares were held, and he was to reply to the address given. I have done this twice on his behalf, explaining my position as executor, with no response, and I have not been contacted by Virgin Media since the alert from the Lost Account service 6 months ago. Other banks were prompt to reply (some unexpectedly!).
Where do I go next?

Lancrastrian building society was absorbed by Northern Rock in 1992 and  whose  'good" assets in turn were sold to  Virgin Money ( not Virgin Media)  by the government after it went bust  and was nationalised after the 2008 financial crash.

From my recollection investors in Northern Rock got nothing after the nationalisation and sale of the 'good part' to Virgin Bank. 

If you have been liaising with Virgin Media ( broadband and mobile phone company), I am not surprised you have heard nothing since it has no links at all with Virgin Money which incidentally is now part of Nationwide building society.

As a postscript, a Northern Rock Shareholders Action Group ( NRSAG) have been continually pressing for compensation, as per 2024 submissions to a Treasury Select Committee - below

https://www.nrsag.co.uk/ws/media-library/04d8baed676b4cc9b04749faeebb2438/16-may-2024-tsc-submission.pdf

You could consider approaching NRSAG for any pertinent updates?

Are they still flogging that dead horse after all these years! There is next to no chance that NR shareholders will ever get any compo, there was a long thread on this subject that died 10 years ago.

https://forums.moneysavingexpert.com/discussion/4559281/what-039-s-likely-to-have-happened-with-our-northern-rock-shares/p1

SadCodeMan

I am not 100% sure but I think Northern Rock was a mutual until 1997 (5 years after the takeover of Lancastrian).

That being the case, I would think the first time there might have been shares would have been in Northern Rock? (which, as above, would likely be worthless now)

I don't think there would ever have been shares in Lancstrian BS.

Maybe it is an old building society account that has been flagged? If so, you might still be able to trace that through to Virgin Money (if there was one)?

Brie

I thought Virgin Money was now part of NatWest not Nationwide.

Savvy_Sue

Brie said:

I thought Virgin Money was now part of NatWest not Nationwide.

I think you've thought wrong (and I have accounts with all 3).

In addition, the transfer to Nationwide is not yet complete, and each bank is looking after it's own accounts.

To make life even more complicated, some Virgin accounts are held in different systems, so you need to indicate how your sort code starts to get to the right place before you login.

user1977

Tibetanterrier49 said:

I recently opened a Lost Account search for my late father's accounts, which revealed stocks and shares with the Lancastrian Building Society, now Virgin Media. This matched a letter that I found following his death confirming that shares were held

Can you tell us what exactly you are reading in this search and letter? "Stocks and shares with the Lancastrian Building Society" doesn't make sense. Who is the letter from and when?