£30500ish

100200300dear

Hi,

Unbeknown to me my step dad told me today that me and my sister have currently £30500ish left from my grandparents when they died. It is currently in a Zurich investment portfolio and has been going up and down (Up to £48,000 at one point). Is this the best place for it? Or are other places better?

I have literally no idea what to do with it.

Thank you.

100200300dear

Sorry £30500 each not between us.

dunstonh

Is this the best place for it?

Where is it currently. You have told us the provider but we would need to know the tax wrapper it is currently in (Zurich offer ISAs, unwrapped unit trust/OEICs, an onshore investment bond and an offshore investment bond.

We also need to know the investments as you havent mentioned those either.

After that we would need to know your objectives, your tax position, your risk profile and a bit about your personal circumstances.

100200300dear

dunstonh wrote: »

Where is it currently. You have told us the provider but we would need to know the tax wrapper it is currently in (Zurich offer ISAs, unwrapped unit trust/OEICs, an onshore investment bond and an offshore investment bond.

We also need to know the investments as you havent mentioned those either.

After that we would need to know your objectives, your tax position, your risk profile and a bit about your personal circumstances.

It is a Zurich Investment Portfolio Bond.

How much of a bond is protected because my step dad told me it can go up and down. Obviously I don't want to lose it all.

My objectives are to increase the current amount the bonds are worth by either transferring them somewhere or keeping them where they are.

I'm 19, live at home with parents, currently at uni but dropping out at end of this year as it isn't for me. Been offered a promotion at work recently which aided by decision to drop out of uni.

100200300dear

What would be the issues involved because of my age and wanting to put a deposit on a house in the hope of buying to let? What kind of mark up on the rent costs over my mortgage costs could I be looking for?

dunstonh

It is a Zurich Investment Portfolio Bond.

That puts it in the life assurance tax wrapper.

How much of a bond is protected because my step dad told me it can go up and down. Obviously I don't want to lose it all.

The bond is a container for investments of your chosing. Depending on the version you have it could have anything from 20 funds to 500 funds. Some of those could be low risk some high risk. Some could offer protected investments.

The chance of losing it all is remote. However, investments do typically zig zag in value on their way to long term growth. So, you will have periods of loss.

What would be the issues involved because of my age and wanting to put a deposit on a house in the hope of buying to let?

If you are willing to accept a higher risk transaction of a mortgaged buy to let then the investments within the bond should all be acceptable.

What kind of mark up on the rent costs over my mortgage costs could I be looking for?

Double current rates typically is what you should look for as you need to remember mortgage rates are at an all time low. A return to the long term average mortgage rate needs to be considered as sooner or later you will be paying that level. If you dont factor it in then when the rates rise you will be paying more on the mortgage than you are getting in rent. With no property boom expected in the forseeable future, you would be paying someone to live in a house that isnt making you any money.