reclaiming surrender money on bonds

jean_hill

Any ideas on how to reclaim the surrender value on bonds that had depreciated £1000 per month over the past 7 months?

Reaper

You can't. They are a risk investment.

jean_hill

Thanks for the reply but its not what I meant. We invested in a bond with Legal & Genaral over a five year period. Like everybody else it was losing money fast. So we decided to take it out before the five year period was up.
They charge us £2000 for taking it out early is there any way we can claim the £2000 back.

dunstonh

We invested in a bond with Legal & Genaral over a five year period. Like everybody else it was losing money fast.

Why do you say like everyone else? Those invested in funds that went up didnt lose money.

So we decided to take it out before the five year period was up.

So you made a choice to do something. You weren't told to do it and you disregarded the other options potentially available to you.

They charge us £2000 for taking it out early

As they are fully entitled to under the terms of the contract you agreed and entered into knowing this was a possibility from day 1.

is there any way we can claim the £2000 back.

None at all whatsoever. They were quite right to charge you.

jamesd

When did you take out the bond?
How much did you originally invest?
Did you receive professional advice to buy it?
Did you receive professional advice to sell it?

Where did you invest the money within it?
Did you receive professional advice about which investments to use within it?
Did you receive professional advice to switch investments within it?

What guidance did you give to any professional adviser or sales person about your attitude to risk and willingness to risk decreases in value?