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Child Trust Fund
Ali_Dug71
Posts: 2 Newbie
My son will receive a good sum of money when he turns 18 next year (around 25,000). He will use this to buy his first house when the time is right. Can he transfer all of this from his CTF to a LISA? Is this the best way forward or will he get a better return if he invests elsewhere as he won't be able to afford a mortgage just yet.
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Comments
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Not in one go/year the LISA limit is £4000 per year currently.He wants to transfer the CTF to an ISA because that means he does not use up this years ISA limit (£20k, including £4K in LISA). Then move £4k to LISA. He will get the £1k bonus on the money in the LISA.The rate of return (or loss)will depend what he invests in within the ISA’s from cash to Brazilian soya bean derivatives.0
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Is the money in a cash CTF?
Has he checked the interest rate?
Would he get a better return on a JISA?
https://www.coventrybuildingsociety.co.uk/member/product/savings/children/junior-cash-isa-2.html
When is his eighteenth birthday?
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