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An industry-devised workaround to allow the parents of disabled children access to otherwise-locked Child Trust Fund and Junior Isa savings without having to go to court could be given legal backing under proposals put forward by peers. Former Tory cabinet minister Lord Young and Labour's Lord Blunkett have proposed an amendment to the Financial Services Bill which would enable child savings of up to £5,000 to be paid out to parents or guardians provided they can fill in a five-page form and get approval from a medical practitioner. The amendment, which will be debated on Monday, comes as pe...

Lord Wolfson said it was not for the Government to give its 'blessing' to schemes  Parents currently face the prospect of going to court to access savings  Trust fund providers greenlit an alternative route last week The Government has refused to confirm whether it complies with legislation aimed at protecting disabled children from financial abuse Former PM Gordon Brown has called on the Government to 'change the law' 

The parents of as many as four in five disabled children currently unable to access their Child Trust Fund savings may no longer have to go to court to get access to the money.

An estimated 120,000 CTFs have gone unclaimed since September The savings accounts began to become available as the first holders turned 18  The body representing 46 mutual providers said there were problems with ID  One investment platform said two-thirds of its trust funds had gone unclaimed  Some young investors will be charged fees of as high as 1.5% in the meantime