Standard Life Shares

lanyroo

Not sure if I am on the right forum but I need some advise.

My position is this:

I am quite a low earner. I have a mortgage of £23,000 with Nationwide. I have around £4,000 in an ISA.

I have 196 shares in Standard Life.

I am thinking of drawing all my money out of my ISA and cashing in my shares to pay off as much mortgage as possible.

Is this wise?
I am 55 and my mortgage runs til I am 70.

Any advice please.
Thanks

cheggers

No one knows what will happen with SL shares. The price of them can go up as well as down. You are only sitting on a profit once you have cashed them in.

gt94sss2

It depends on your attitude to risk - as has been pointed out shares can go down as well as up - but if you feel more comfortable paying the (approx) 4600 off your mortgage and thus owing less money go ahead and do it.

However, a couple of things to bear in mind:

- its not a good idea to use all your savings to pay off the mortgage. Make sure you have some savings easily accessible in case your car/boiler etc. breaks down and you are faced with any unexpected bills.

- Compare the interest rates - if your ISA pays more than your mortgage you may not want to do this atm..

Regards
Sunil

EdInvestor

The shares have done quite well and if you hold on to them until the summer, you should get some extra bonus shares and also a dividend.

I would suggest you wait until then and after that consider cashing in for the higher amount.