My wife and I have 2 ISA's with the Bradford & Bingley BS. Should we move them due to its problems?

Question

My wife and I have 2 ISA's with the Bradford & Bingley BS. Should we move them due to its problems?

Answer 1

I don't think you will need to. You might find this article useful:

http://business.timesonline.co.uk/tol/bu...

Answer 2

No. there is no need to move them because of the problems. Assuming you only have two cash ISA, the sum of your investment will be protected via govt legislation. However, you should consider moving them as you are likely not to be getting the best from your ISA allowance by using a bank.

One of the best advantages of using an ISA is the protection against capital gains tax. I imagine you have a cash ISA with B&B which will be giving you a fixed rate of interest.

Assuming you are investing this money for the longer term, you should consider changing the asset to a stocks and shares ISA. (If this isn't the case then simply look for the most competitive rates on the market)

Pick an asset class in line with your attitude to risk. Talk to an IFA who will put you in the right direction (not the banks advisors who will just flog you something rubbish).

Answer 3

i dont think you do need to becuase the ppl on the news say not to worry and its nothing at all like the northen rock crisis but if your really worried just talk to the ppl at the B&B place and see what they think !!

hope it all works out ok

good luck