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Original poster

Lifetime ISA

7 replies

extinctspecies · 31/12/2017 13:51

I am looking at opening one of these for DS, who has just turned 18.

probably with Hargreaves Lansdown as they are one of the few to offer a stocks & shares LISA.

Anyone else done this, any pitfalls to watch out for?

OP posts:
19lottie82 · 31/12/2017 18:00

Are you planning on setting it up for his to buy a home?

19lottie82 · 31/12/2017 18:00

*him

Original poster
extinctspecies · 31/12/2017 18:34

Yes. Not for pension.

OP posts:
19lottie82 · 31/12/2017 18:39

I think your DS will have to open his own, instead of you opening it for him.

I have a S&S LISA for a pension, with Nutmeg. You download an app on your phone so you can track your account and it’s really user friendly. The fees are low too.

Original poster
extinctspecies · 31/12/2017 18:47

Yes, you are right. He has to open it himself. Under my guidance however! He has some savings which I am suggesting he transfers to get the 25% bonus. I will look at Nutmeg too, I think it's probably better suited to his age group than HL.

OP posts:
TefalTester123 · 31/12/2017 18:51

I think one pitfall might be if he has any chance of inheriting property before he makes use of it. In which case I think he might lose the bonus. No idea what happens if he inherited say a quarter share in a property.

Original poster
extinctspecies · 31/12/2017 19:53

Thanks Tefal. That's pretty unlikely in our situation.

OP posts:
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