View more on these topics

£3,000 Annual limit for junior Isas

The overall annual contribution limit for junior Isas has been set at £3,000.

Last week, the Government published the draft regu- lations for junior Isas as part of the latest version of the Finance Bill.

The Treasury says six million children will be eligible for junior Isas, which will replace child trust funds, when they launch on November 1. It expects a further 800,000 to become eligible each year.

Children will be able to have one cash and one stocks and shares junior Isa at a time. Funds in junior Isas will be locked in until the child is 18 when the accounts auto- matically become adult Isas.

The Treasury says if a parent contributes the maximum amount over 18 years, a child could see resulting funds of up to £80,000.

Those who already have a child trust fund will not be eligible to pay into junior Isas but the Government will increase the child trust fund contribution limit from £1,200 to £3,000 in line with junior Isas.

Treasury financial secretary Mark Hoban, who announ- ced the Government would create a new tax-free child- ren’s savings account in October, says: “Junior Isas are a great example of a simple, clear and jargon-free financial product that allows families to save and invest for their child’s future.”

But Yellowtail Financial Planning managing director Dennis Hall says: “Some middle-class families will see this as a great thing but there is a huge group of disadvantaged people that will not. There is not enough slack there to encourage the people that the Government want to encourage to save to do so.”


Average LTV at highest level in three years

The average loan-to-value has reached its highest level since April 2008, according to surveyors e.surv. It is now 60.8 per cent, a sixth consecutive monthly increase, and is up from 56.2 per cent in March 2010. The surveyor says the volume of approvals in the 75 per cent to 85 per cent LTV bracket grew […]

ECB raises rates 25 basis points

The European Central Bank is raising its rates from 1 per cent to 1.25 per cent to help reduce above-target inflation in the eurozone. The eurozone’s inflation has been running consistently above the ECB’s 2 per cent target, leading Jean-Claude Trichet, the president of the ECB, to hint at a rate hike.However, many fear a […]

EU ministers meet to discuss Portugal bail-out terms

The European Union will meet today to discuss the terms of Portugal’s bail-out package following the countries request for aid yesterday. But it is doubtful whether Portugal’s caretaker government can agree to austerity measures that would be a condition of the loan, according to the BBC. Portugal’s out-going Prime Minister Jose Socrates’ government collapsed after […]

Introducing Trevor Greetham

Ryan Medlock, Investment Proposition Manager, Royal London Royal London Asset Management’s (RLAM) new head of multi-asset is officially up and running. I want to look at what expertise Trevor brings to the table and how this affects the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). Trevor Greetham joined RLAM in April 2015 from […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm