Did your adviser suggest any other property funds to you, e.g. from Hibernian, Friends First, etc. If not, why not?, and why does he /she think the EBS property fund (which is the Irish Life Property Fund with an EBS label on it) is better than the others (i.e. is it better in terms of greater return or lower risk)? Is the estimate of the investment being worth 27,000 in 5 years plucked from the air or based on past performance of the fund or on what? Is the 7 grand profit you hope to get before tax or after tax? If it’s gross, you will pay 23% tax on encashment, giving you a profit of 5,390. Could you get a better net return elsewhere, for the same or lower risk? Have you paid off your mortgage? Using your 20 grand to pay off some of your mortgage is risk-free property investing. Calculate the return you would get by paying off your mortgage and compare it to the estimated return on the property bond, before you make any decisions.