Child Trust Funds

[SaltandPepperIt]

Reading another thread, I didnt realise I could have got so much more from these for the DCs! I have just kind of left them hanging over the years.

So - can I ask where you have put yours and how much they have in them? Mine have got between £450 - £550. One has just over a year left and the other 2 years to go.

Is is easy to change them over to another place?

Thank you for any advice!

You can't open new CTF but could swap to a Junior ISA

We added to our dd’s she’s 18 today so its matured and has got just under £6000 which will go towards university

I pay £25/month into both of my DC' trust funds. They will have about £4/500 each by the time their 18 to put towards a car or uni or whatever they need

*They're

I moved my kids ones years ago to a child trust isa at Hargreaves Landsdown and I pay in extra money every month by direct debit. It's a stocks and shares one rather than a cash one and it's performed v well.

Ds's is worth £5800 and he is 14 and we pay in £27 per month. It only made £8 from the value last year so I'm looking to move it to a tesco bank junior ISA

Dds was worth £6200 in November last year, I've not had this years statement yet. I will wait until her statement before deciding whether to swap hers too.

@dementedpixie

Ds's is worth £5800 and he is 14 and we pay in £27 per month. It only made £8 from the value last year so I'm looking to move it to a tesco bank junior ISA

Will look into Tesco ISA thanks.

Can probably afford £10 each month to pay into for them, Halifax childrens savings is at 4% so will give the older one an extra £95 if I change now according to Money Saving Expert. That looks tempting and wont go down in value

We consciously chose not to add to ours. DD1 didn't get one, DD2 did.
The issue in my view with CTFs is the child gets access automatically when they turn 18. I think the risk of this (giving them a large sum with no control over when they get it) outweighs any tax savings benefits.