If we get some PREMIUM BONDS for DS and he wins the jackpot........

[RTKangaMummy]

...........who does the money belong to?

i have just got some for dd and ds and i think as the signator and guardian of them either parent can take charge. up to us what to do with it

dh asked me could that exact question on thurs

So if DS wins £1 million we can buy a house etc

rahter than wait for him to turn 18

ha he won?

No

not yet!!!!!!!!!!

But am trying to work out whether to buy them in his name or ours

IMHO should be his but not sure what happens to winnings

you could buy a house and have it written in that he gets the house when he reaches a certain age.

Sounds a good way round it

And then lets his mummy and daddy live in it

But then if it is only £25,000 or £50,000 what then?

Perhaps it is better in our names?

It is all tax free isn't it?

What is the benefit of putting in DS name?

Is it anything to do with taxes etc.?

According the the Premium bonds website if a child wins the jackpot it goes to the parent/guardian.

FIL bought some for our dd's and I keep checking the numbers online just in case they win. but don't worry I will invest it for them if they win the jackpot, honest I will after maybe buying a nice big house with some of it well, the dd's need somewhere to live after all.

DD has some; so do DH and I.

DD has more than doubled her money. Now she has more chance of winning than we do since she has many more (we've opted for auto-reinvestment to max holding).

A letter came recently. Addressed to me. You have won... got excited then remembered only DD wins. Turned it over and sure enough, she'd won again. Mustn't complain - let her luck hold!

am looking at the NSI site atm, am tempted, as have sapre £100 in my account atm and know i'll just waste it if i leave it there. should i invest?

Nothing to lose - it's easy to get it repaid if you need it.

I've just been looking at the large prize winning numbers for this month. The big prizes mainly go to large holdings but one £25k winner is from an £8 holding bought in 1970!

Can i have the website address please anyone??

National Savings

It cost me £100 to visit (I bought some premium bonds whilst there!)

him
we got some comp for ds1 once an dmy brother ( lawyer) said we to be very careful wiht it

Thanks Sue.

As a matter of iterest SueW, how much does your DD hold. Does it have to be x amount of thousands to stand the best chance of doubling your money. HOpe this isnt too nosy a question

Her initial holding was just £200!!! DH and I bought a token £100 each. The idea at the time was to invest £100 per month for each of us until we all reached the maximum holding. This was in 1997 - then we moved, took on a bigger mortgage and garden and other expenses and then DH's work wasn't quite so lucrative. So here we are years later, DD has won a few times and DH and I still have £100 having won nothing (although I now have £200 thanks to Sunday's investment!)

RT, the real advantage is to someone who already has the full allocation of Premium Bonds (£30,000) as you and your dp can each hold 30,000 then with your additional riches you can get your child his 30,000.

,

Just revisiting this as I have just received a letter saying DD has won another £50!!!!

'Snot fair!

. nothing for me yet lol.

I've got £4 worth from the mid-seventies! Never won anything though.

I want to invest in some for ds but can you help me? Is it the childrens premium bonds you are all investing in where you can win anything from £50 upwards? Also can you get your money back if you want it etc a long time down the line?
TIA

i have NS&I premimum bonds for me. have to invest minimum of £100. you can pull your money out at anytime AFAIK. no idea on childrens bonds tho.

I may just do it for myself as i have just found a bit more written about it and you can not apply online for a child you have to do it through the post. I have used the link below think it is the same one as you misdee.

I have children's bonus bonds for the children - no prize draw, but they do earn interest at a decent rate, and get a bonus every 5 years. You buy them in multiples of £25, investing a maximum of £1000 a year. They're tax-free. The money belongs to the child.

So, for example, one of ds's bonds, which cost £25 in 2003 will be worth £29.91 in 2008, and will keep going like that till he's 21.

We bought premium bonds for both ds and dd. Dd has been extremely lucky and won a couple of thousand pounds - which seems a bit unfair on ds! so we haven't told either of them what funds they have. Ds is nearly 18 and I keep expecting him to start asking if we have any money put aside for him (answer:not much but his grandparents have recently started accounts for both ds and dd which they don't want them to have access to for a few years yet).