Best Place for £60,000?

20SmthngSver

Durban wrote: »

20sthingsaver. Yes that is exactly what I want to do, is give it when they need it towards a house deposit

This is why I am trying to ascertain the best place to put this £60,000, to keep up with inflation, possibly grow a little but also overcome the dilemma of it all being needed over a varying time span.

Rightly or wrongly , I don’t want to risk it being used or drawn out for anything other than a house deposit if and when they’re ready.

I think I may feed my daughters LISA up to maximum. Get the other daughter to open a LISA and do the same. Maybe with the rest VLS 60/40
Does this sound reasonable?

Thanks again

I would sit with them and apply, and then put £4000 in each tax year for yeach child? Keep the remaining money in a top paying easy access account? Each child gets £4000 a year for the next 5 years drip fed. That's what I'd do. That gives you control you want to keep and it can only be used for a house, but it is in their name still, but you control the depositing.