Abbey Investment is it any good?

oliveoil54

Hi am thinking of putting the full amount in this Abbey cash ISA,

http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1210610545388&empr=Abbeycom&leng=en_GB&pagename=Abbeycom/Page/WC_ACOM_TemplateB2

and poss putting the same again or maybe quite a bit more in the Abbey Stock Market Guaranteed Growth Plan, if it makes the max it will return 4.35% per annum.
http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1210610645672&empr=Abbeycom&leng=en_GB&pagename=Abbeycom/Page/WC_ACOM_TemplateB2

Not sure whether the return on the Growth plan is worth it for a 5.5 year investment (I live in hope of a market upturn?).

Any advice or alternatives welcome. Have got a few investments which have just matured and am finding it difficult to find a suitable home for them.
Many thanks

Baldur

Wouldn't touch either of the products personally - Abbey have recently always tend to link a tempting high rate 'Super' Cash ISA like this to a poor investment offering.

Even if the GEB (Guaranteed Growth Plan) makes the highest projected return, it's still a poor rate.

dunstonh

Thats a pretty awful GEB. However, all Abbey's GEBs have been awful. I dont remember one offering anything close to decent terms. However, they are a bank and that means you shouldnt expect decent investment products.

There are better options available via IFAs. Including one that is paying 8% p.a providing the FTSE is at least 50% of its current level in 5 years time.

oldfella

savings "products" from banks are usually poor quality

by a product I mean anything more complicated than a simple deposit

oliveoil54

Thanks for the advice. Will have to do a bit more research.
Does anyone know of any other investments providing a better return, my main criteria would be to guarantee the capital?

Jake'sGran

Diana Wright, a much admired money adviser with the Sunday Times said she always received more complaints about Abbey than any other bank.
Incidentally, Abbey are now part of Banco Santander.

alanq

Is the Guaranteed Growth bond covered by the FSCS? Many people lost a lot of money with "guaranteed" investments when Lehman Brothers collapsed because the money was not classed as a normal deposit.