Reinvesting Mature Tessa, Need help

Oct 31, 2003 3 Replies

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John Smith 22 years ago

My TESSA matures in February 2004 and I want to reinvest the 9000 capital. I have been offered a TESSA Only ISA account with my current provider, which is basically a Cash ISA, but I can invest 9000. HSBC are offering a equity linked ISA for maturing TESSA's which I can transfer the 9000 into (HSBC Performance Plus ISA) this guarantees the capital but caps the growth at 45%. Has anyone had any experience with this? is there anything better. I can't find any other providers that offer anything similar. Can anyone point me in the direction of any other providers that offers something similar.

Thanks

John

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gordon 22 years ago

What I'm not clear about is whether "Tessa only Isa's" can be moved about. Can they ever become real Isas? I'll have this problem in about three month's time.

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Daytona 22 years ago

...err quick search reveals loads -

If you're willing to lock your money up for 5 years, then it might be an idea to review whether you actually require the capital guarantee and consequent performance cap or whether you'd be better investing in investment trusts or tracker funds.

Daytona

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Terry Harper 22 years ago

They are real ISAs. The Halifax does not differentiate between them.

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