You don't need to ‘Bea' millionaire to get on the property ladder

Last week, Princess Beatrice was seen out and about in Belgravia house hunting for a £4.5 million property, financed by a trust fund that matured on her 18th birthday. Whilst, the fifth in line to the throne is in the fortunate position to have the backing of the royal coffers, ASDA is calling on families of more humble means to make regular savings into the Child Trust Fund (CTF) scheme to give children the best possible start in life.

Figures released from ASDA show that parents or family members investing just £20 a month into an ASDA CTF would receive over £8,000 on their 18th birthday and the sum increases to over £37,000 for monthly contributions of £100. Such sizeable sums can give a much needed helping hand to finance their university education or get onto the property ladder.

Gev Lynott, Head of ASDA Financial Services comments: "Lenders are asking borrowers to stump up higher and higher deposits making it increasingly difficult for first time buyers to get on the property ladder. Parents who take action now and invest a small amount each month will give their kids the help they need to make this first important step."

The ASDA Child Trust Fund is provided in association with The Children's Mutual and as an added incentive parents receive a £5 ASDA gift voucher for opening the account or a £25 ASDA gift voucher if they set up a monthly Direct Debit contribution of £10 or more.

The scheme allows payments into the account on a regular basis, either by regular Direct Debit or through one-off payments throughout the year or on special occasions like Christmas and birthdays. By allowing contributions from wider family members and friends it is possible to build up a sizeable fund through a series of relatively modest monthly payments. Many godparents and grandparents, for instance, also choose to invest and by pooling resources, families can reach the maximum contribution of a £100 a month to offer their child the best possible start in life.

Customers who would like further details on the ASDA CTF can apply online at asdafinance.com