Stocks and shares isa to cash isa

junebaby

Hi

We currently have around £80,000 invested in Vanguard LS 60 acc. It is in a stocks and shares isa with iWeb. It has been invested for nearly 10 years and the last 2 have been pretty poor. 

In view of the rising interest rates on cash Isas I am tempted to change it over to a fixed cash isa. It would be good to get a guaranteed return and we could always change it back at another time. 

If we were to do this how do we go about it. Do I first ask iWeb to convert it into cash and then ask my new provider to move it so it retains its isa status. Or should I go about it another way?  

Many thanks. 

Albermarle

If we were to do this how do we go about it. Do I first ask iWeb to convert it into cash and then ask my new provider to move it so it retains its isa status. Or should I go about it another way?  

You could do it that way, or otherwise Iweb will sell to cash for you.

It has been invested for nearly 10 years and the last 2 have been pretty poor. 

Investing is a long term game, some down periods are inevitable. Overall though it will have done well over the 10 years.

and we could always change it back at another time. 

Maybe by then you will have to buy back in at a higher price?

In view of the rising interest rates on cash Isas I am tempted to change it over to a fixed cash isa. It would be good to get a guaranteed return

You are not the only one thinking this at the moment, but seems a bit drastic to move the whole lot over. Although of course we do not know the rest of your financial circumstances. If you have a big pension invested and/or are nearing retirement, it could be sensible to move more into cash with interest rates as they are.

Beddie

You could always move part of it, if you felt you needed some safety. Or move the lot if you've decided you don't like the ups and downs of the stock markets, accepting your returns will probably be lower (or not, who knows?) As you say, there are some decent fixed rates at the moment.

But yes, it's easy to do, just tell your new cash ISA provider what you want to do and they will take care of it. iweb will sell the funds (some or all) before transfer or you can do it yourself.