National Savings Certificates

starbabe30586

I am about to receive some inheritance currently in National Savings Certificates but AXA are demanding 15% of the total due to the recent stock market performance. Can they do this? Or can I fight it?
The money has been gaining interest for 11 years.

Any information or advice would be appreciated.

opinions4u

Exactly what is the money invested in?

Why would AXA have a claim on National Savings Certificates (AXA is an insurance company and National Savings Certificates are provided by a government owned savings bank)?

starbabe30586

I am not entirely sure about AXA and what they are involved for but I do have photcopies of the national savings certificate so I know thats what they are. I have just been on the AXA website and they do investments, i didn't know this.

I am a little confused with it all.

Thank you for your reply. I am going to ring AXA to find out.

Many thanks

alanq

As far as I am aware National Savings Certificates can only be held in your own name not that of a nominee.

Are you perhaps referring to a Gilt Edged stock? Some of these used to be issued via National Savings.

If so, these stocks go up and down in price and may be currently valued at less than their issue price. This would not mean that Axa is taking the difference.