Best savings option for a baby?

[bohemianbint]

Hello,

I need to open a bank account or an ISA or something for my son who is just 1. He has his baby bond invested but I don't want to use that as a savings account for him cos he can get his hands on it when he's 18 and I want him to be a bit older before he can get his hands on this cash.

Anyone know what the best bet is interest wise? Would it be an ISA?

TIA for any advice!

We saw fin. adv recently after dd was born and he said best thing was to use your stocks and shares part of your isa and use property shares. You'll prob need fin, adv to help you pick out co's to invest in (not as scary as it sounds: our bloke just said 'how much do you want to put away each month and what risk element do you want' then came back and said 'right, this is where your money's going' and it's one vcomoany that you pay your money to by dd and that's it! We didn't pay adv, commision, the co we pay by dd take something like, for eg, 1.5%of ann pmnt as commision, and out of that 1.5% they then pay adv say 0.5%, they don't take extra dosh off us to pay advisor. Hope that helps!

Here is a summary of some of the options and things you should think about.