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Property Investment Bond

  • 18-11-2008 11:25am
    #1
    Bob Z
    Registered Users, Registered Users 2 Posts: 2,587 ✭✭✭


    I dont know anything about this so i'm not sure if this is th right forum.

    My aunt a couple of years ago put money into a property investment bond. NOw she didnt know what this is and was adviced to do this by the building society. Recently however she found out she lost a lot of money(almost 10 thou) and was really annoyed( i dont it was explained or she understood properly that there was risk involved). She thought she was saving it

    I was trying to tell her that it will go down more and then go up in a couple of years

    Now she wants to withdraw it all and put it in a bank in Northern Ireland (because of the low sterling)

    What should she do?


Comments

  • #2
    soddy1979
    Registered Users, Registered Users 2 Posts: 284 ✭✭soddy1979


    Well if she converted it to GBP and the rate moved against her she could lose a lot more.

    I don't know the specifics of the investment your talking about so I wouldn't like to comment on it. But the word property is ringing alarm bells for me.

    What's wrong with cashing the investment and holding it in your bank account?


  • #3
    Bob Z
    Registered Users, Registered Users 2 Posts: 2,587 ✭✭✭Bob Z


    soddy1979 wrote: »
    Well if she converted it to GBP and the rate moved against her she could lose a lot more.

    I don't know the specifics of the investment your talking about so I wouldn't like to comment on it. But the word property is ringing alarm bells for me.

    What's wrong with cashing the investment and holding it in your bank account?

    Actully thats what i was thinking. It will probably be a long time before Property goes up wont it?


  • #4
    soddy1979
    Registered Users, Registered Users 2 Posts: 284 ✭✭soddy1979


    I don't know when it will go back up; what you might like to do is get details from the building society on the investments which the bond issuer made; eg. is it linked to actual properties (are they Irish properties?), or is it linked to property development companies, etc, etc, etc. It will give you a little more feel for the risks involved with the bond and the future direction of your aunts returns!


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