I lost £13,000 on a Low risk investment in less than 1 year

maff65

Hi
I phoned yesterday to find out what penalty I would suffer if I take the money out a year before I'm allowed to, I was told 2% since its the last year, then the BIG shock, she told me how much I would get, and its £13,000 less then what it was last year.
Can anyone tell me if this is possible on a very low risk investment please.

Maff65:cool:

magictom123

unfortunately, turn on the news and see.

The key word here seems to be risk, even with low coming before it, there is still risk. Without knowing all your details, if the biggest banks in the world can go bust, then nothing is safe.

I dont mean to scaremonger as obviously the government are taking over certain banks when necessary but as far as investments in shares goes - I wouldnt touch any with a barge pole at the moment unless your happy to sit on them for a good few years.

Sorry

Reaper

Yes. I'm afraid low risk does not mean no risk. For example a year ago people might have bought banking shares because everybody thought they were low risk.

You haven't said what it was you bought, but unless it was mis-sold to you under false pretences you will probably have to accept it.

Baldur

Difficult for anyone to advise you without more details, e.g. details of the investment product concerned.

amcluesent

Sounds like you were miss sold or didn't understand the nature of the investment. Something linked to the stock-market I'd guess, hence not low risk.

gozomark

how big was your initial investment ?

if it was £20,000 and you were told it was low risk, then may well be miss selling. If it was £ 1,000,000 it wouldn't

you also say "I would suffer if I take the money out a year before I'm allowed to" - thats a penalty for early withdrawl - that doesn't mean its not low risk

dunstonh

10-15% loss is low risk range. So, without knowing investment amount its impossible to tell.

whiteflag_3

Sounds like you were miss sold or didn't understand the nature of the investment. Something linked to the stock-market I'd guess, hence not low risk.

Thats strange, as I have a high risk investment and havent lost a penny!