Switching to LISA for sons house saving
Posted: March 7th, 2021, 9:18 am
Right LISA for my son to save for his first house
Hi All, my first post and venture onto this thread. I’ve done some groundwork but am new to this and would welcome some thoughts/guidance. We originally took out a Help to buy ISA for my son who’s 18 with the Nationwide but recognise the growth will be limited and have heard that getting the 25% from the government can sometimes take a while and you don’t earn interest in this during the life of the ISA so want to switch to a LISA.
We are looking Foresters Financial at the moment as they hold our daughters CTF and their LISA looks pretty good. After doing some digging their management fee looks high compared to others and I’ve heard that managed funds rarely beat the market and ideally we need to be looking at something that’s index tracked which I can see is linked to inflation.
I’m happy to switch to a stocks and shares LISA and wanted to know what the best one’s where which I guess you’d class as low to moderate risk (say 40% shares and the remainder in more low risk investments, gilts etc).
I’ve listed a few here (there may be better ones now and would be great to get some more expert thoughts).
Vanguard Global All Cap
Life Strategy 100
40/60 Vanguard Life Strategy
BlackRock Consensus 60
Ideally something that we can pay into monthly and get online access would be great.
Thanks folks
James
Hi All, my first post and venture onto this thread. I’ve done some groundwork but am new to this and would welcome some thoughts/guidance. We originally took out a Help to buy ISA for my son who’s 18 with the Nationwide but recognise the growth will be limited and have heard that getting the 25% from the government can sometimes take a while and you don’t earn interest in this during the life of the ISA so want to switch to a LISA.
We are looking Foresters Financial at the moment as they hold our daughters CTF and their LISA looks pretty good. After doing some digging their management fee looks high compared to others and I’ve heard that managed funds rarely beat the market and ideally we need to be looking at something that’s index tracked which I can see is linked to inflation.
I’m happy to switch to a stocks and shares LISA and wanted to know what the best one’s where which I guess you’d class as low to moderate risk (say 40% shares and the remainder in more low risk investments, gilts etc).
I’ve listed a few here (there may be better ones now and would be great to get some more expert thoughts).
Vanguard Global All Cap
Life Strategy 100
40/60 Vanguard Life Strategy
BlackRock Consensus 60
Ideally something that we can pay into monthly and get online access would be great.
Thanks folks
James