Advice please

mumoffive

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

isasmurf

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.