Best place to invest when starting out?

xylophone

Consider an ISA with Vanguard?

https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-isa

http://monevator.com/using-vanguard-lifestrategy-funds-life/

DrEskimo

I would just add more to the house deposit on the principal that you can't have 'too much deposit', but it's very possible to have too little...

Not to mention the costs involved in buying a house, such as Stamp Duty, solicitors fees, estate agent fees, mortgage fees, etc. It's conceivable that you would want to access this money to help towards these costs, and if the markets aren't in your favour you could be down on your original capital, as well as paying fees to keep it there (albeit they would be pretty low at the start given the amounts).

point5clue

If you are considering investing in Vanguard Lifestrategy 100 I would suggest the Global All Cap as an alternative. Two hundredths of a percent higher charge, but no home bias, and includes a much wider selection of shares.

https://www.vanguardinvestor.co.uk/investments/vanguard-ftse-global-all-cap-index-fund-gbp-accumulation-shares?intcmpgn=equityglobal_ftseglobalallcapindexfund_fund_link

However you say 'low risk'. If long term to you means several decades then 100pc equity is the lowest risk in my opinion. But most people would say that 100pc equity is 'high risk' because the value can fluctuate a lot (including reduce over a few days or weeks by half its value)

Unless you are sure don't need the money any time soon and that you can watch the value collapse from time to time without panic selling then maybe Lifestrategy 60 or 40 might be a better way to start your investing career ?

Apologies if I'm teaching you to suck eggs on any of this...

Personally I really like the Vanguard ISA platform - there are slightly cheaper ones out there, but its a great place to start, and transferring at a later date is easy (or just starting on a different platform in a future year).