Using my bank account to open S&S ISAs for sons?

uss_tish

Update - we didn’t go with lifetime ISAs because as a widow when I pass away they inherit my house which then excludes them from using the ISA for their own house purchase as they would no longer be considered first time buyers. God forbid that should happen anytime soon but having just lost my husband at a young age I'm taking no chances.

as predicted transferring sum to student account was problematic and son’s bank on several occasions denied the transaction - all resolved now but what a faff having to deal with bank, dealing with investment platform, cancel ISA and repurchase. All done now need to do same for son number 2 after his 18th birthday next month.

p.s. Should add that we went with Vanguard Lifetime and it was very easy and straightforward - they weren’t the problem and their customer service was excellent replying to emails on a Sunday! 

xylophone

All done now need to do same for son number 2 after his 18th birthday next month.

Does he have a CTF/JISA?

MovingForwards

@uss_tish if you were to pass away soon the kids could sell the house, without transferring it to their names, and use the money to buy their own or save it for a few years down the line.

The lifetime ISA can be used as a mortgage deposit and / or pension, it has two purposes.