We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.

Advice please

Okay...first post.

I have a mini ISA worth about £3000 now. We were saving in a 'life assurance' component that is going to be merged with the providers Stocks and shares element. We are unsure of what to do now.

Do we leave it in the Stocks and Shares element, change to a Cash ISA, put it in the mortgage?

Any advice would be greatly appreciated.

We have a low flexible mortgage of 30K, and the ISA is our only savings.

Thanks

mumoffive

Comments

  • isasmurf
    isasmurf Posts: 1,998 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Have your reasons for taking out the Life Insurance ISA (I wonder who it was that had one of these!) changed?

    As you say the Life Insurance component of the ISA is being MERGED with the Stocks & Shares component and not being abolished as many people lead you to believe. What you can invest in now in the Life Insurance ISA, you can continue to invest in the Stocks & Shares component. So there is no reason to change unless your priorities have changed.

    Incidentally to make matters more confusing not all Insurance ISAs will become Stocks & Shares ISAs, some will become Cash ISAs. Your ISA provider should have written to you to tell you which one yours will be.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.4K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 241K Work, Benefits & Business
  • 617.4K Mortgages, Homes & Bills
  • 175.7K Life & Family
  • 254.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.