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    Where should I be putting the money I am saving for my first property purchase?

    11 October 2021

    Question by Carla

    Where should I be putting the money I am saving for my first property purchase?

    Answered by James Greenly

    Hi Carla

    Thank you for your question.

    My immediate thought would be for you to look into a Lifetime ISA. Boring Money have summed them up nicely here:

    https://www.boringmoney.co.uk/learn/investing-guides/product-guides/lifetime-isa/

    Once you've read through that and understand 'LISAs', you'll then be in a good position to know if they are appropriate for you given your personal circumstances.

    If you do go down the route of opening a LISA, Boring Money have reviewed 3 LISA providers for you here: https://www.boringmoney.co.uk/lisas/lisas/

    Best

    James

    Answered by

    James Greenly

    Chartered Financial Planner

    I am a Chartered Financial Planner at Capital Asset Management, a boutique financial planning and wealth management firm based in the City of London.

    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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