Best child £50k investment?

money11111

I have been left £50k (tax all sorted by solicitor already so that's the final amount) which I want to invest for my young, only child. They have an ISA and I'm not keen to add more to that as I'm not 100% comfortable with them having such a huge amount at their disposal at 18. I considered a buy to let property, but the risk of renters, stamp duty rise etc put me off. What is the best way to save and grow this money over the next 10-15 years so they can have help buying a home one day? Thank you.

El_Torro

If you are keeping it in your own name then £20k into an ISA every tax year (either Stocks & Shares or Cash, though for these timescales a Stocks & Shares ISA would be more suitable than Cash) is an option. Assuming you are not using any ISA allowance yourself.

For the money that doesn't fit into an ISA an unwrapped investment account is still a good option, even though there will be taxes to pay on gains. 

If you want to keep the money in cash then find the best savings account and put it there. It won't do as well as investments though over the long term.

xylophone

You can use your own ISA allowance in a stocks and shares ISA.

https://monevator.com/passive-fund-of-funds-the-rivals/

https://monevator.com/best-global-tracker-funds/

Fidelity, AJ Bell, Hargreaves lansdown might suit as a platform.

You might hold the balance in the best paying deposit account you can find.

https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html

You can add to the ISA in subsequent tax years.