Neston & Beyond: Prognostication & Communication

A couple of snippets.

Keeping In Touch.
We‟ve all forgotten to do something at some time, but in just the last two weeks I have come across several examples of four very similar forgotten tasks. When moving house, it is easy to miss something, although as Nietzsche wrote “The advantage of a bad memory is that one enjoys several times the same good things for the first time.”

First example is that of a gentleman who had saved for many years in to a personal pension plan. At 65, he decided to stop paying in, but leave the pot invested. He then moved house but didn‟t tell the pension company. This was 15 years ago… Hopefully he and his pension will soon be reunited although there will have to be

some „discussion‟ with the provider and the revenue because he should have taken it no later than 5 years ago.

Second is that of a private loan to an individual, and for security, a charge in favour of the lender was placed on the borrowers home. The lender then moved, but did not update the charge on the borrowers home. When the borrowers house came up for sale, the conveyancing solicitor dutifully wrote to the lender at the old address, received no reply, so the house was sold and the borrower took the proceeds leaving the lender out of pocket.

A solicitor dealing with a lease needed the permission of the freeholder. Again, tried to contact at the address recorded on the lease but no luck; you‟ve guessed it, she had moved.

Finally there is the life insurance. The policyholder had been duly paying premiums by direct debit for many years and then thought to ask a question of the company. He called the company, but they would not speak to him because the address he gave did not match the one they had. Yes, he had moved, and even worse, the he was me! (Bit embarrassing.)

“…Seer of Seers, Sage of Sages, Prognosticator of Prognosticators…”

Fans of the 1993 film „Groundhog Day‟ will no doubt recall this phrase. Well, it would appear to now apply to me. For those of you with so little to do you decide to read my missives you might recall in the epistle cast out from here on 24 th January. I poured cold water on the ludicrous press speculation of an imminent interest rate hike despite unemployment nearing the „target‟ published by the Bank of England Governor. I wrote:

“Anyway, back to the story. I hereby predict (foolish I know):

1. There will be no increase in Bank Base Rate until either Lloyds or RBS are in a position to pay a dividend; only then will the banks be deemed to have stuffed their pants with sufficient of your cash.”

Well who would have thunk it; just over a week later, (Monday 3rd February) Lloyds Banking Group announce to the stock market that they are applying to the regulator to start paying dividends in the later part of this year, because they think they have sorted their capital adequacy issues and are delivering better than forecast profit. Basically, they are coining it in.

Tips for the Grand National will soon be available for a modest fee…

John.