Saving for godchild

studentloansQ

Hi there, looking for some advice on saving for my godson. I'd like to be able to deposit on birthdays/ Christmas/ ad hoc and if possible do it as a surprise for the parents too. I'd liked the idea of premium bonds but it has to be a parent/guardian and £100 minimum. Is there some other form of bond I can do for him? Or savings account I can open without the parents?
Thanks!
From a confused godmother :A

xylophone

I am assuming that the child is an infant.

How about an investment trust savings plan held in bare trust with you and one of the parents as trustees - deposit once a month.

Examples

http://www.bailliegifford.com/documentgateway.aspx?_id=3A39B056-DE6E-474E-870C-3DB1B9BB88F3&disclaimer=ok

page 17

http://www.sit.co.uk/private-investors/products/stockplan-a-flying-start

Click on FAQ for details of bare trust.

The child has an absolute right to access and control at age 18.