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Cooperative
atticgirl2003
Posts: 464 Forumite
Does anyone have co-op, platinum with profits bonds.
Just wondered if it's time to hold or time to fold.
Just wondered if it's time to hold or time to fold.
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Comments
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It has been a while but still looking for some replies.0
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Folding at the moment isn't the best idea as there would of been a significant decrease over the last 18 months due to the MVR they place on it so by taking the money out now you'll be saying goodbye to the money you've lost. If you can hang on for another year or 2 and hope the MVR decreases then you'll recover some of the money. In my opinion I don't think the MVR will increase.
Of course if you need the money now its different......I am a mortgage adviser - MSE does not check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice0 -
How long have you had the bond in ???Ask for a quote from the co-op and see what they offer you??0
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Folding at the moment isn't the best idea as there would of been a significant decrease over the last 18 months due to the MVR they place on it so by taking the money out now you'll be saying goodbye to the money you've lost. If you can hang on for another year or 2 and hope the MVR decreases then you'll recover some of the money. In my opinion I don't think the MVR will increase.
Of course if you need the money now its different......
Thank you for replies.
I have hekd the bonds for over 10 years so the MVR does not apply.
True there has been a small loss over the past 18 months.
I don't need the money yet.
Just need advice on wheather I should leave it where it is for a few more years or move it somewhere else. But where?0 -
No one can advice you what to do with it as we do not know what your financial position is or your attitude to risk or the amount of money involved!!
I am sure they are better products out there for your money to be in but you must have some idea what you want to do with it when withdrawn !!
With profits plan are now out of fashion they are made up of two elements an annual bonus which is added each year and once added cannot be removed and a terminal bonus which varies at the time of withdrawal !!
As I suggested get a quote and decide from there0
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