mortage interest

"Jackie" wrote

What rate are you getting on your PEP/ISA ?

I have paid in 4200 since 30/06/98 (missing 2 months/100 because of a bank c*ck-up) and an online valuation gives 5072.38(it is a Jupiter ISA). I cannot find an actual interest rate.

My latest forcast for my endowments show a total shortfall of 10,000, worst case senario, from the 4 endowments that I have of 26,000, 3,100, 12,000 AND 5,000. Also what formula do I need to use with excel to calculate interest when saving a lump sum plus monthly payments and when re-paying a loan etc?

Thanks Jackie

In message , Jackie writes

It sounds like an equity ISA. Dont thank of interest rates in this case. Instead ask yourself this question, "Would you borrow money secured on your house to invest in the stock market?"

I dont know which Jupiter funds you are investing in but you are with one of the better companies. None the less if you answer the question "YES" then leave the ISA alone. If you say "NO" then cash it in and reduce your mortgage debt, whilst remembering you have less savings to fall back on.

Dot be misled by the 'worse case scenario'. The letters dont tell you that, they just show three growth rates. Most with profits endowments are currently growing at a rate less than the lowest rate quoted. Unless they are with standard life and/or you would have trouble getting any more life cover if you need it, then pack them in now.