stocks and shares isa advice please

jamesey

hi ive got a stock & shares isa buing up £85 units a month and has been for the last 11 years this june , the current surrender is around 10k , which seem just about the amount we have paid in , im wanting to pay my mortgage of , or a lump at least , this what it was originally for but as of last year we took a repayment on our 56k mortgage
its now at 51k and it has another 4 years fixed at £415 per month , im wanting to know if i ought to cash the s&s isa in and pay the 10k off the mortgage along with the 4k i have saved up in my bank , will it be worth more nxt year maybe??
as the £415 pm i will keep that on for another 4 yrs to pay the £19920 off plus the £14k in the s&s and bank we in 4 years time would owe just 17k , in the 4 years left i could save and pay it all off i think
i just want to know if i shold cash the 10k in or wait a while

sheslookinhot

The S&S ISA is not performing, cash it in and pay off your mortgage, keeping payments the same but reducing the term

It is always wise to keep a cash fund for access in emergencies.

jamesey

ive got my cash isa for emergencies thats full upto this year.

Aegis

jamesey wrote: »

hi ive got a stock & shares isa buing up £85 units a month and has been for the last 11 years this june , the current surrender is around 10k , which seem just about the amount we have paid in , im wanting to pay my mortgage of , or a lump at least , this what it was originally for but as of last year we took a repayment on our 56k mortgage
its now at 51k and it has another 4 years fixed at £415 per month , im wanting to know if i ought to cash the s&s isa in and pay the 10k off the mortgage along with the 4k i have saved up in my bank , will it be worth more nxt year maybe??
as the £415 pm i will keep that on for another 4 yrs to pay the £19920 off plus the £14k in the s&s and bank we in 4 years time would owe just 17k , in the 4 years left i could save and pay it all off i think
i just want to know if i shold cash the 10k in or wait a while

What funds are you invested in within the Stocks and Shares ISA, and who is the provider?

jamesey

dont know what funds im investing in i just leave that to my finantial advisor , and the isa with L&G

Aegis

jamesey wrote: »

dont know what funds im investing in i just leave that to my finantial advisor , and the isa with L&G

That could have something to do with the performance. If you've been going through a tied agent, they typically can't portfolio plan and they usually take maximum fund charges to pay for the sales pitches they give you.

You should look at your statement to see what you're invested in. Some people here could probably comment on those funds to see if the portfolio is well picked.

jamesey

Ok ill have a look or ring l&g for some info

dunstonh

The S&S ISA is not performing

How do you know? Nothing about the investments has been posted. No mention if the life assurance is part of the premium being paid.

dont know what funds im investing in i just leave that to my finantial advisor , and the isa with L&G

The fact its L&G usually means its a tied agent sale. So, they tied rep wont be doing anything.

jamesey

my isa has a joint life assurance to pay my house off or 53k upon death whilst in this policy
the fund goes up and down everyyear , i think the highest was 12k about 5 years ago then last year it was at 8k , now its at 10k , you work it out £80.68 a month for 11 years £10649.76

sheslookinhot

dunstonh wrote: »

How do you know? Nothing about the investments has been posted. No mention if the life assurance is part of the premium being paid..

I know its not performing because its made a loss over 10 years.

Aegis

sheslookinhot wrote: »

I know its not performing because its made a loss over 10 years.

That depends how much the life insurance costs. If that's priced in at £30 per month, for example, then over 11 years the cost of the insurance would be nearly £4,000, so the investment side of things would have at least returned a profit. Not much of a profit, I give you, and ideally you would hope that a regular investment would have done better than that over 11 years, but this is just an example of why the surrender value might be lower than expected.

Note that I doubt the life insurance would cost that much if it's competitively priced, but since this was sold through a tied agent, it's possible that it was sold at a rip-off price.