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Guaranteed Equity Bonds

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vdavies
vdavies Posts: 2 Newbie
in Savings & investments
I would like to re-invest 2 x GEB which I invested in 2001. One of them has a maturity date of July 2008 and the other July 2010. The Building SOciety is Bristol & West which has now been taken over by Britannia. I have been told that I will face a penalty charge which they can't disclose until I write to head office and i would have to see a financial advisor.

Please could someone give me some indication what the percentage would be of this penalty clause

Thanks

Comments

  • dunstonh
    dunstonh Posts: 119,679 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I have been told that I will face a penalty charge which they can't disclose until I write to head office and i would have to see a financial advisor.

    Rubbish. You ask the provider directly for the surrender value. You do not need to seek advice.

    The penalty cannot be calculated here but seeing as you invested in 1991 and there will be an early surrender penalty, you will probably be facing a loss.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • carnet
    carnet Posts: 501 Forumite
    dunstonh wrote:
    but seeing as you invested in 1991..... you will probably be facing a loss.

    No loss.... if it was 1991 ;)
  • dunstonh
    dunstonh Posts: 119,679 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Wow, that was some timewarp i just went through ;)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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