Sell Stocks and Shares ISA's to reduce Mortgage

Gambler

Analysing our finances closely at the moment due to my partner about to start maternity leave.

Mortgage is up for renewal in the next few months.

I invested £8K in stocks and shares ISA's about 8 years ago and they are now worth £8,150 !!! Although the UK and European have performed well, the profits have been offset by heavy losses in the American and Technolgy funds.

Just wondering if it is worth sticking with the ISA's or cashing in to reduce my mortgage payments by about £50 per month.


Thanks

homer_j_3

and next weeks winning lottery numbers are.... Sorry I dont think that there is an answer that we can give you.

Clearly the investmnt hasnt performed well as a whole and in hindsight, had you stuck that money in a high interest savings account, you would have been better off. today.

I guess that £50 a month doesnt seem a great deal off your mortgage payment (depending on your gross payment at the moment??) but you could look at it as reducing your debt by 8k and if you can afford to overpay and have facility to do so, maintain your current payment to save interest and reduce your term on your mortgage.

I guess you have to look at what exisiting savings you have in place and whether you can afford to keep the isa as it is. You would be best seeking the help of an IFA with regards to your investments and possibly a mortgage broker to get you the best working mortgage that is most suitable to your needs and circumstances