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Saving with a L&G Flexible Mortgage Plan ISA
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studio_two
Posts: 84 Forumite
Hello,
Just looking for a quick pointer as to whether or not my existing L&G Flexible Mortgage Plan ISA could be used as a regular saver account.
I am in the fortunate position of having paid off my mortgage, so this account will hopefully be a nice windfall in a few years time.
I have paid £18k in after 16 years, and the latest statement has a value of £24.5k.
My question is, would it be better to pay some extra into this account, or can I do better elsewhere? There are 9 years remaining until maturity.
Any suggestions are most welcome.
Kind regards, Stephen.
Just looking for a quick pointer as to whether or not my existing L&G Flexible Mortgage Plan ISA could be used as a regular saver account.
I am in the fortunate position of having paid off my mortgage, so this account will hopefully be a nice windfall in a few years time.
I have paid £18k in after 16 years, and the latest statement has a value of £24.5k.
My question is, would it be better to pay some extra into this account, or can I do better elsewhere? There are 9 years remaining until maturity.
Any suggestions are most welcome.
Kind regards, Stephen.
0
Comments
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Just looking for a quick pointer as to whether or not my existing L&G Flexible Mortgage Plan ISA could be used as a regular saver account.
It is not a savings product but an investment product. It isnt a great investment product as choice is poor and charges are a bit high by modern standards but you could do worse.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Great! Many thanks for the quick response.
I was thinking that as I'm paying the charges anyway, it's no great hardship. Presumably, setting up something else would potentially mean another lot of charges.0
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