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Maturing Endowment from Scottish Widdows
Phargus
Posts: 18 Forumite
Hi
I've got a 20 year endowment maturing in mid Jan worth around £23K.
Been offered options of -
"High Investment Plan" - extending the policy for another 10 years
"Flexible Savings Plan" - leave the proceeds invested
"Guaranteed Stockmarket Bond & Guaranteed Investment Bond" - ? Speak to one of their advisors!
"Scottish Widdows Bank Loyalty Deposit Account" - doesn't give any info on this.
.....or a cheque.
Any views on the options? As a follow up, I was planning to use the money to pay off some of my mortgage but not for 9 months as this is when the early payment penalty lapses. What to do with it for 9 months? I'm a high rate tax payer.
many thanks
I've got a 20 year endowment maturing in mid Jan worth around £23K.
Been offered options of -
"High Investment Plan" - extending the policy for another 10 years
"Flexible Savings Plan" - leave the proceeds invested
"Guaranteed Stockmarket Bond & Guaranteed Investment Bond" - ? Speak to one of their advisors!
"Scottish Widdows Bank Loyalty Deposit Account" - doesn't give any info on this.
.....or a cheque.
Any views on the options? As a follow up, I was planning to use the money to pay off some of my mortgage but not for 9 months as this is when the early payment penalty lapses. What to do with it for 9 months? I'm a high rate tax payer.
many thanks
0
Comments
-
Difficult to try and time entering and exiting a "plan/bond" in a beneficial way (you might be unlucky, putting it in at peak, then the markets suffer a reversal for 12 months, and take another two years to recover lost ground), within 9 months, even assuming any of the plans would allow that timescale at all.
Get your cheque.
ISAs ? either side of April...new £10k limit, pa.
Have a punt on a few shares in the Stocks ISA portion?Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
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