Lucy is in her first year at university and has just received an inheritance of £10,000 from her grandmother. She doesn’t have any need for it in the near future, and would like to invest it until she needs a deposit for her first house. She’s comfortable with some risk but has no interest in moving her investments around.
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|Charles Stanley Direct||£25||yes|
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As Lucy does not plan to invest any more in the near future, she needs to make sure that the fees do not eat into her capital. Halifax is the best option for Lucy. As Lucy wants to use this money for a deposit, she should also check rates offered by banks on cash ISAs. Lucy could consider a Lifetime ISA to save for her deposit, as it has a 25% government bonus.