Historical Products

Introduction

From time to time we close some of our products to new applicants. We actively manage these products.

If you hold a savings or investment product with us we’ll send you performance updates every year and let you know if your plan is approaching a guarantee point. You’ll find information on these products on this page.

If you have a life cover product with us we’ll contact you if the cover period is coming to an end.

We value your continued membership - thank you. If you have any questions we can help you with, please do get in touch: call 0345 88 22 999

Lost plan?

If you think you have a plan with us, but have lost track, call us on the number above – we’ll be happy to check for you. 

Guaranteed ISA - A Stocks and Shares ISA for regular and lump sum investments.

Closure Date: 5 April 2016

You can invest flexibly into our Life Fund, adding new money up to your Annual ISA Allowance and transferring in any ISAs you have elsewhere. You can do this online here or by phone or post.

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In return we guarantee to pay you a lump sum of at least the amount you invest in a tax year (less any earlier withdrawals you make) in five years’ time on the 6 April.

There’s no term - you can get a new guarantee every five years with the opportunity to lock in any growth. We’ll contact you shortly before a guarantee point to let you know the value and explain your options.

You can also withdraw or transfer out some or all of your savings at any time between the guarantee points – if you do so the value of your guarantees will reduce and you may not get back what you put in. There’s no tax to pay at any time.

If you die we’ll pay a lump sum of at least 101% of the guaranteed value of the plan.

Moneyspinner - A regular savings plan with extra life cover.

Closure Date: 31 December 2011

You invest a regular, fixed amount into our Life Fund for 10 years. In return we guarantee to pay you a lump sum at the end of the term or twice that amount if you die before the end of the term. Your guarantee may be more or less than you invest depending on your age when you started your plan. We may also add bonuses to reflect investment performance over the period.

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We’ll contact you shortly before the end of the term to let you know the value and explain your options.
 
You can stop saving at any time and take the surrender value – if you do so, you may not get back what you put in. We apply a 5% deduction and there may be tax to pay – it depends if you need to pay higher rate tax.

Platinum Bond - A lump sum investment with life cover.

Closure Date: 31 October 2008

You invest a lump sum into our Life Fund. In return we guarantee to pay you a lump sum of at least the amount you invested (less any earlier withdrawals you make) on the tenth and every subsequent fifth anniversary of investment. We may also add bonuses to reflect investment performance over the period you invest.

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There’s no term. We’ll contact you shortly before a guarantee point to let you know the value and explain your options.
 
You can also take money out regularly or some or all of it at any time between the guarantee points - if you do so, you may not get back what you put in and we may apply a Market Value Reduction.

You may have to pay tax at any time you take money out – it depends on the amount you withdraw and if you need to pay higher rate tax.

If you die we’ll pay a lump sum of at least 101% of the guaranteed amount.

Full Endowment - A regular savings plan with life cover.

Closure Date: 31 December 2006

This plan is designed to help you repay an interest only mortgage.

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You invest a regular, fixed amount into our Life Fund for a term of between 10 and 30 years. In return we guarantee to pay you a lump sum at the end of the term or if you die before the end of the term. The guarantee is equal to your mortgage when you took out the plan. We may also add bonuses to reflect investment performance over the period.

We’ll contact you shortly before the end of the term to let you know the value and explain your options.
 
If you increase your mortgage you’ll need to consider how you will repay the additional amount.

You can stop saving at any time and take the surrender value – if you do so, you may not get back what you put in. We apply a 5% deduction and there may be tax to pay – it depends if you need to pay higher rate tax.

Top-up Pension Plan - A personal pension for regular and lump sum investments.

Closure Date: 6 April 2006

You invest flexible amounts into our Life Fund. In return we guarantee to pay you a lump sum on the date you tell us you expect to take your money out (normally after age 55) or if you die before that date. We may also add bonuses to reflect investment performance over the period you invest

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You can invest new money up to limits set by the Government and get extra money added with pension tax relief. (We claim basic rate tax relief for you and invest it in your plan. If you’re a higher rate taxpayer you can claim further tax relief through your tax return.) You can also transfer in other personal pensions you have elsewhere.

We’ll contact you shortly before the age you’ve chosen to take your money to let you know the value and explain your options. You can change this date at any time. For the guarantee to apply the new date you choose will need to be at least six months after your original date.

You can transfer all of your money to another personal pension at any time. If you do so, you may not get back what you put in and we may apply a Market Value Reduction.

Low Cost Endowment/Minimum Low Cost Endowment - A regular savings plan with life cover.

Closure Date: 31 March 2005/30 April 1998

These plans are designed to help you repay an interest only mortgage.

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You invest a regular, fixed amount into our Life Fund for a term of between 10 and 30 years. In return we guarantee to pay you a lump sum at the end of the term. We may also add bonuses to reflect investment performance over the period.

The ‘low cost’ guarantee is less than your mortgage when you took out the plan. This means investment performance is very important to your plan being able to help you repay your entire mortgage. The Minimum Low Cost Endowment has a lower guarantee than the Low Cost Endowment.

Every year, with your performance update, we’ll highlight using a colour code whether your plan is currently on target to pay off your mortgage. The colours are red (not on target), amber (may not be on target) and green (on target). If you die we’ll pay a lump sum of at least your original mortgage amount.

We’ll contact you shortly before the end of the term to let you know the value and explain your options.

If you increase your mortgage you’ll need to consider how you will repay the additional amount.

You can stop saving at any time and take the surrender value – if you do so, you may not get back what you put in. We apply a 5% deduction and there may be tax to pay - it depends if you need to pay higher rate tax.

For more information on read our Low Cost Endowment FAQs.

Products managed by other providers - Cash Account and Cash ISA - Deposit accounts provided by Skipton Building Society.

Closure Date: 31 December 2012

If you have a query you can contact Skipton Building Society on 0345 850 1722.

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