CTF discussion area

agentpb

While looking around for setting up a CTF for my baby daughter and the myraid of info, I found this link to moneyfacts, which produces a monthly comparison of saving and equity based CTFs.

http://www.moneyfacts.co.uk/savings/bestbuys/default.aspx

jo_b_2

Just had an email about this Child Trust Fund scheme from the Nectar point loyalty card. It seems very innovative. (I don't know how financially savvy it would be.)

http://www.nectar.com/childtrustfund/

Basically, you can top up the Child Trust Fund with Nectar points! Very novel idea.

You also get 1000 bonus Nectar points when you open the account and another 1000 if you start a direct debit. Something a bit different anyway!

Chef1980uk

After doing some more research i have nearly settled on what i want to do.

I want the CTF voucher to go in to the F&C non stakeholder. And i also want to start up the "halifax 10% for the first year" one for a seperate £200 we have.

Am i right in that i will need to set up two direct debits for this to work (£10pm for the halifax and £25pm for the F&C)?

If i am correct, is there any other costs i need to be aware of?

Tues-Onward

Chef1980uk wrote: »

After doing some more research i have nearly settled on what i want to do.

I want the CTF voucher to go in to the F&C non stakeholder. And i also want to start up the "halifax 10% for the first year" one for a seperate £200 we have.

Am i right in that i will need to set up two direct debits for this to work (£10pm for the halifax and £25pm for the F&C)?

If i am correct, is there any other costs i need to be aware of?

We did something similar for our daughter, although its only been nearly a year ago. You will have to setup two direct debits for it to work for the F&C....

baby_boomer

For those seeking equality for children the Chorley BS does a cash CTF and also an account for older children with the same rate - a decent 6.85% - and conditions as a CTF (except for the tax treatment of income if the money comes from parents).

VKS_2

I would like some advice re CTFs which don't specify a minimum monthly contribution. Firstly, I Was keen on the F&C trust fund but am I right in saying that you need to make a minimum monthly contribution of £25?

I am not keen on investing money in the CTF for the reason it goes to the child when they turn 18. I would like to save for my daughter, but I want to keep control of the money so I can decide when to give it to her. When my daughter is older - if she wants to pay in birthday/christmas money etc, then of course that is fine. I am planning on researching the best savings/investments and using the child benefit to save for her for uni/house deposit etc.

However, I would be interested to hear from others who disagree - and who have been investing on a monthly basis.

My question really is - which trust funds should I be looking at who don't specify a minimum monthly contribution?

Many thanks

Vicki

karl60

Does anyone know if the 10% dividend tax credit is reclaimable when held in a CTF?

baby_boomer

Pension funds and non-taxpayers can't reclaim it, so I'm pretty sure CTFs can't.

derrekmay

Verry interesting thread!

[Deleted User]

Arrrggghhhh, I agonised for ages over the CTF, drove me mad it did...

Finally decided just to stick the £250 and the odd cash gift into a Skipton BS cash CTF.

Why... A branch is close to work, there is not really any risk to the cash other than the interest rate going down and I did not not want to save monthly into the CTF. Her real savings will be elsewhere in my control...

Why stress over a poxy £250...