CTF discussion area

JimmyTheWig

Serene007 wrote: »

My son is now aged 4 and I have spent the last 3 years wondering which CTF would be best??

Why would we trust the recomendation of someone who has left the money in the account the government chose for you - as that's what would have happened if you did nothing for so long.

More to the point, why would we trust the recomendation of your advert at all??

xXxKatexXx

blimey! It really is a minefield isn't it! Thanks everyone that has contributed on this thread. I have just had a baby, and was looking for advice on where to stick his voucher. My first son's voucher, well to be honest i paniced at the time and chucked into HSBC purely because that's where i bank.

I think this time though, I will find a high interest savings account. Britannia looks good and I think i have one in town. Do I literally just go in? I was hoping to transfer first son's money to a savings acc too. Will the new chosen place deal with all the stuff for me, or do I need to tell HSBC myself that I am moving the funds?

Also, if i havent got a physical bank in my area, can i still put money in it. What i mean is, looking at the list of savings accounts at the momnet, I have never heard of most of them, but there interest rates look nice. How would i go about putting the voucher into one of these banks where i cant actually pop into the local branch?

Thanks in advance for anyones help....

matimage

Hi All,
I have just received my voucher. I have been speaking to my financial advisor chap and he thinks that shares have a way to fall yet.
So on that advice, I am thinking of popping the voucher into the Britannia cash CTF at 7% (bonus for 24 months) then move it to a stakeholder some point in the future. Do you think this is good idea? I am not sure if the money will be locked into Britannia for the 24 months at least though...
Also, not wanting to have all my eggs in one basket, I want to open childs savings account for baby and save in that up to the taxable limit (£100 interest a year methinks). Any good recommendations?
Ta

xXxKatexXx

brittania is exactly the way im going too im going to transfer oldest sons at the same time as putting new baby's voucher in. i can always move later on if the shares etc look profitable

tirednewdad

xXxKatexXx wrote: »

brittania is exactly the way im going too im going to transfer oldest sons at the same time as putting new baby's voucher in. i can always move later on if the shares etc look profitable

Brittania @7% for 2 years appears to be the best one around at the moment. Hopefully in 2 years time the markets will start to rise again.

Personally i put any spare money that is meant for my child into my wives ISA. That way we (or she if i really think about it) can decided what is spent on it.

drjunk

Sorry if this has been mentioned before in the forums.

Im after a saving plan/fund for my son, who is 7 yrs old. I want to pay in £40 a month, but want it to be inaccessible until hes 21 years old. He was born before these ctf became available, so cant claim the £500 the gov are offering.

I have no idea about this sorta thing, so any help would be much appreciated.Thanks.

jessicamb

drjunk wrote: »

Sorry if this has been mentioned before in the forums.

Im after a saving plan/fund for my son, who is 7 yrs old. I want to pay in £40 a month, but want it to be inaccessible until hes 21 years old. He was born before these ctf became available, so cant claim the £500 the gov are offering.

I have no idea about this sorta thing, so any help would be much appreciated.Thanks.

Hi

If you save money in an account in his name I think he will be able to access it before he is 21 - the only way to keep it in your control would be to have the account in your name.

drjunk

jessicamb wrote: »

Hi

If you save money in an account in his name I think he will be able to access it before he is 21 - the only way to keep it in your control would be to have the account in your name.

Thanks for the reply. My parents setup a fund for me that couldnt be touched until i was a certain age. Is there not anything available now that is similar?
I dont want to be able to have access to the savings.....just incase im hard up and start withdrawing lol.

JimmyTheWig

drjunk wrote: »

Im after a saving plan/fund for my son, who is 7 yrs old. I want to pay in £40 a month, but want it to be inaccessible until hes 21 years old. He was born before these ctf became available, so cant claim the £500 the gov are offering.

You could start a policy with a Friendly Society. E.g. this one http://www.thechildrensmutual.co.uk/default.aspx?page=450

Don't know if they're any good or not, performance-wise, but we've got one for our three kids.

drjunk

JimmyTheWig wrote: »

You could start a policy with a Friendly Society. E.g. this one http://www.thechildrensmutual.co.uk/default.aspx?page=450

Don't know if they're any good or not, performance-wise, but we've got one for our three kids.

Thanks for that jimmy. Had a look at the site....sounds good. Only thing is, is that the site says the plan cannot be set up without life cover.
Anyone else know of similar savings schemes as "the childrens mutual", but with less strings attached?