S&S ISA - regular saver?

Bark01

Hi,

I want to invest some money for a godson, I have £250 upfront and then will be putting in £10 a month until he is older, so it will be invested for ~20 years.

I use my cash ISA allowance each year so was thinking of using my S&S allowance for this. As I'm only going to be drip feeding this account each month are there any S&S schemes out there that might suit? I obviously don't want to be paying a fee each time I buy stock, so this may not be the right avenue but I thought I'd ask.

thanks

jimjames

The HL Vantage account would be ideal, you have no lock in, minimum monthly payment is £50 and you can stop/start/change at any point.

https://www.h-l.co.uk

Bark01

jimjames wrote: »

The HL Vantage account would be ideal, you have no lock in, minimum monthly payment is £50 and you can stop/start/change at any point.

https://www.h-l.co.uk

It looks ideal except that its £50 a month, I'm only looking to spend £10. If it was my own kid then I might consider it.

Is there anything cheaper?

jimjames

Bark01 wrote: »

It looks ideal except that its £50 a month, I'm only looking to spend £10. If it was my own kid then I might consider it.

Is there anything cheaper?

Whoops, missed that bit. There are schemes outside an ISA where the min is £25 per month but not seen any that are £10. With HL you can vary the payment so you could just do £50 and then not do another payment for 4 months. Or even just split the £250 at £50 per month initially while still saving the £10 per month.

Ilya_Ilyich

Yeah, you won't be able to find an S&S provider (or any fund supermarket/broker, I imagine) where buying £10/month would be worthwhile. Your best best is almost certainly going with H-L and just depositing £50 every 5 months instead.