CTF discussion area

super_star_2

Does anyone know the free phone number or the alternative to 0845 2308686 for the Ipswich Building Society?

Thanks

Jodie1975

I have the information sent to me by the Ipswich building society about the stake holder and non-stakeholder accounts that they do for the Child Trust Fund. I wanted the non-stakeholder account(currently 5.75% interest). I was reading the small print and it said that there's a one off charge of £90 and an annual charge of 1.24% of the fund. I looked on the Britania website (currently doing the non-stakeholder account with 6% interest for 24 mths) and they have no mention of any charges for the non-stakeholder account. If I have got this right, surely this means that the Britania one would be best and then after 24 months, swap to another account with higher interest?

What is this £90 charge about, does anyone know? It seems a lot to take considering the voucher is only for £268 and I don't intend to add to the fund.

Whirly

I want to open a child trust fund. Who is the best provider to invest with if I'm not gong to be putting regular savings into it. Is cash or shared based ctf better for me to go with?

dunstonh

Who is the best provider to invest with

If savings based, it can be answered. If investment based, it cannot be answered here as that would be considered advice.

Is cash or shared based ctf better for me to go with?

Up to you. Its a personal thing. However, statistics would say that an investment based CTF would be better under any 18 year period past (investment doesnt need to mean stockmarket).

Whirly

Just so that ppl don't think that whirly is a complete newbie. I'm actually his better half using his login and I'm clueless. So please forgive my ignorance as I ask the following questions.

1. Who is the best savings based provider?
2. Can anyone recommend a good shared based ctf if I only want to invest the money and forget about it.

isasmurf

Whirly wrote:

Just so that ppl don't think that whirly is a complete newbie. I'm actually his better half using his login and I'm clueless. So please forgive my ignorance as I ask the following questions.

1. Who is the best savings based provider?
2. Can anyone recommend a good shared based ctf if I only want to invest the money and forget about it.

1. Best is a subjective opinion. The best banks don't pay the highest interest rate. Now if by best you meant highest paying interest account, that depends on what your criteria is. Instant Access? Regular savings? Long term savings?

2. Sorry, no. This forum is not authorised to give advice, or 'recommend' share based investments.

Whirly

I want the investment with the highest possible return over 18 years. (who doesn't?) I don't need instant access and I will only be able to add birthday/xmas money. Where is the best place to get advice. I found the CTF site very confusing. I know if I don't make a choice soon the government will make the choice for me.

Dot

Please, has anyone any suggestions to my previous question as I have tried a few building societies and have found the same.

"My daughter has two kids of which one has the child trust fund voucher - the other is too old to qualify. I am going to give the older child the same money to invest so they both have accounts running alongside each other. My daughter has discovered that the good CTF accounts cannot be opened without the government voucher so the older child would have a different account which may/may not do as well/better. Any suggestions on like for like accounts with good rates?"

Mollie's_mum

Jodie1975 wrote:

I have the information sent to me by the Ipswich building society about the stake holder and non-stakeholder accounts that they do for the Child Trust Fund. I wanted the non-stakeholder account(currently 5.75% interest). I was reading the small print and it said that there's a one off charge of £90 and an annual charge of 1.24% of the fund. I looked on the Britania website (currently doing the non-stakeholder account with 6% interest for 24 mths) and they have no mention of any charges for the non-stakeholder account. If I have got this right, surely this means that the Britania one would be best and then after 24 months, swap to another account with higher interest?

What is this £90 charge about, does anyone know? It seems a lot to take considering the voucher is only for £268 and I don't intend to add to the fund.

I too was a bit worried to about this, so I've been dithering a bit. Today though I phoned the Ipswich Building Society and there is NO FEE OR MAINTANANCE CHARGE for their own Child Trust Fund which pays 5.75% :j . The £90 one off charge and 1.24% annual charge relates to the stakeholder account which is provided by Liverpool Victoria through them. You need to make sure you fill in the Ipswich CTF Application, not the other ones for Liverpool Victoria which get sent with the pack.
I have ust posted mine. I hope this helps other parents out there :A
All the best.

dibbs26

Whirly wrote:

I want the investment with the highest possible return over 18 years. (who doesn't?) I don't need instant access and I will only be able to add birthday/xmas money. Where is the best place to get advice. I found the CTF site very confusing. I know if I don't make a choice soon the government will make the choice for me.

Hi,
I spent many months looking into this and I agree with you. In the end I went for the Family Investments Stakeholder CTF. New Star manage this, they are the old 'Jupiter' investment company. V. Good fund managers in my opinion.
Hope this helps
Peter