More than 12,000 people across the North-East and Cumbria have missed out on premium bond windfalls - purely because they have not claimed their winnings.

Prizes totalling £736,100 are still waiting to be paid out and are currently being held by National Savings and Investments (NS&I).

That figure could be redressed as the Government-backed provider launched a free tracing service to find the owners.

In the past year, more than 3,700 people across Britain and as far afield as Australia and Thailand were reunited with £4.2m.

Gill Cattanach, NS&I commercial director, said: "It seems all too easy for people to become separated from their savings or investments. We are making it that little bit easier for people to find out if they have any lost or forgotten savings with National Savings and Investments.

"The NS&I Tracing Service is a free, simple, straightforward way for people or their family members to be reunited with money that has been saved or invested with us."

Research revealed that when people move house, one in seven forgets to tell their financial providers or give them their new address.