Does anyone have any experience of inheriting a Holiday Property Bond?

BeeTheGoddess

Hi, I was hoping to hear some experiences from anybody who has inherited an HPB please. A family member wants to add me as an additional life assured person, and I've been sent a form to fill in with my details - including medical details which I find a little bizarre, but guessing this is a standard part of life assurance? 

As far as I understand it in plain English, my family member wants to use the bit of HPB that allows the investment to be passed on when they die. I've had a look at how HPBs work and I'm pretty confident it's not for me and the only thing I would do with it is cash it in and take the money. However, as I'm a residual beneficiary in my family member's will anyway, I'm not sure whether I'd need to be added to the HPB - wouldn't I just inherit it anyway if that's the case?

Basically, I'm loath to sign up to inherit this thing if I don't have to, and I'm uncertain as to what that would tie me into - for example if my family member dies and I inherit the bond, am I also inheriting responsibility to pay the quarterly charges that HPB charge? If it's relatively easy to cash in and get out of that then that's okay, but I'd appreciate knowing if any inherits have ever done this process, and whether it's especially fiddly to cash in. I assume that basically they don't want people to do that and to continue the bond instead, and I really don't want to entangle myself in additional admin, especially if I'm being charged for it in the meantime. 

Would greatly appreciate any advice or experiences please

PharmaAl

HPB is a niche product so I would contact them directly for advice. As a HPB member I must admit I love the portfolio of properties and have had a huge number of fantastic holidays with them. 

JGB1955

I inherited my parents bond a couple of years ago.  I suggest you phone the very helpful people at HPB Management Limited who should be able to help you out.  

• Tel: 01638 674726
  • Telephone lines open: Mon-Fri 9.00 - 17.30
• E-mail: admin@hpb.co.uk

bluefunkysquirrel

I too have recently inherited HPBs and decided to encash them. It has taken quite a lot of back and forth with the staff in Isle of Man but we are nearly there. Parents loved the bonds and had lots of great holidays, it's not about the returns etc. Points of interest:

• They found the level of property they were able to book with their 'points' dwindled over time.
• £5k invested in Nov 1989 valued at £2215 after 37 years, additional £2k invested in Aug 2022 returned £1619.
• Additional lives had been added to the [Life Insurance] policies which only pay out on last death so no lump sump payment due.
• Because HPB are based in IoM I actually wasn't able to ring them on my [admittedly cheap] phone contract.