Parents should invest in fund for their children

Parents should consider their child’s future by investing their money into a deposit-based Child Trust Fund (CTF) claim financial experts.

Fair Investment Company suggested the savings option as an alternative to buying presents and gifts as figures from MoneyExpert predicts that relatives have given children in the UK £2.4 billion this Christmas.

James Caldwell, Fair Investment director, said: “Deposit-based Child Trust Funds could be a good way of investing money that might otherwise be frittered away.”

“Your children are likely to thank you when they hit 18 and find they have a substantial nest-egg waiting for them,” he adds.

According to the body, all children born on or after September 30th, 2002, and in receipt of child benefit are eligible for a CTF and £1,200 can be paid into the account tax-free each year.

The Fair Investment Company has recommended that consumers should ensure their home contents are covered by insurance after figures from MoneyExpert revealed that £384 is the average spend on presents at Christmas.

Tags: deposit-based child trust, claim, GBP, CTF, home

First-time buyers ‘undeterred’ by credit squeeze

Despite a significant tightening of the mortgage market following the US sub-prime crisis, many Brits are keener that ever to get their foot on the property ladder.

According to research by Fair Investment, despite the number of mortgage enquiries seeing an overall decrease in the past few months, the number of first-time buyer enquiries has gone up dramatically.

In the first three months of the year first they were at an average of 56 per cent, while in the last three months they have risen to 74 per cent.

Furthermore, the number of first-time buyer enquiries for 100 per cent mortgages has increased from 77 per cent in the first quarter to 92 per cent in the last three months.

James Caldwell, Director of Fairinvestment.co.uk explains: “Britain’s love affair with the property market is far from over, despite the recent dip and the gloomy forecasts for the next few years.

“Our figures suggest that…first time buyers are still keen to seek out a deal and are fully prepared to opt for 100 per cent mortgages if it means getting their own home.”

Meanwhile, demand for high-end mortgage products has grown, especially for multi-currency mortgages.

Tags: First-time, love, credit squeeze, James Caldwell, first three months, property ladder, buyer, significant tightening