S&S ISA question

abouttimetoo

I know this is the mortgage board but I feel more at home here so was wondering whether any of you had any advice?

I save £5 a month for my nephew who is just a baby. I'm thinking of increasing this to £10 a month and using the money to buy some S&S for him while the market is so low at the moment.

Do any of you do this for such smalls sums and are there any particular products/providers you would recommend?

Thanks very much

StuartGMC

ABT
Firstly of course he can't have an ISA in his name until 16, but doesn't the CFT (Child Fund Trust options include those invested in the markets?)

Secondly, not sure if any of the fund supermarkets will take a contribution as low as £10 per month; I'm presently with Interactive Investor for our S&S ISAs but the minimum (in most cases) per OEIC/UT is typically £20 per month.

Do look carefully at fees etc for CFT and independent options.

Lokolo

There are some places that take the £10 a month option, not sure who. You should really post this in the Savings and Investments. Or hope that dunstonh or another investor (one that knows more than me...) comes along.

Other than that we can't recommend anything specific because its against forum rules

abouttimetoo

Hi Stuart

Thanks for that - I've just had a look at the II site and they do a self select ISA with small fees. I'll read a bit more but on first sight it looks good. I might even be tempted at the minute to invest a bit more per month for him - bless his little cottons - he is just so yummy:o

StuartGMC

ABT
Do check the Savings & Investment threads though, I think they recommend other providers depending upon needs (I don't want to get into trouble ).

Lynn11

I know that there are child trust funds you can open where you can put away £10 a month, I did not choose this as did not want to be committed to this every month for my daughter. I have a separate child savings account which I put into and then when at a reasonable amount transfer some to the CTF. Both of these will need your nephews birth certificate. Your nephews mum will have already opened a CTF for him and you could get a note of the number, and put in a set amount every 3 months rather than shares. Its only an idea