The 'We're saving for a deposit' thread

So our saving has begun.

We have £5,700 I know, nothing major yet with a target of £12,500. This will give us 5% for a HTB home option

Our intentions are to each open a HTB ISA next month saving £1000 immediately each and then aiming to save £200 a month

This will after a year leave each account with £3,400 so £6,800 in total
Plus any minor interest payments

We should then get the 25% boost so £8,500 added to our existing position. Which will obviously drop £2000 for the starting HTB ISA position to £3,700. Giving us £12,200.

Sounds easy right. Except saving £200 a month isn't easy for us to do each.

Which seems depressing as we get net around £3000 a month.

But standard living costs rents bills Direct debits, food and petrol amount to about £2000
we put £1280 into the joint account for foor rent bills etc and the petrol and our personal DD's the make up the rest car insurance petrol, mobile phones.

and then sadly its the odd meal out here and there the idea we might ever have a holiday that soak up way too much of the last £1000

Plus the things we aren't great at planning for CAR tax although we are both changing to monthly the £5 different over the course of the year isn't much and allows us to budget but random car bills

And that we have agreed to visit my sister in New York next year that halts our progress

I've updated my signature with our intentions as a plan to update monthly but also to post it here. Hopefully this will drive us on and prevent us going "why not just do takeaway tonight"

December 2016 might be a pipedream and it will probably be well into 2017 but you can only hope right?

Good luck to the others on here. Long time reader first time poster....

Hi everyone, haven't been posting around here much lately as I was so busy with work and a planning our wedding. Have just returned from our honeymoon and now ready to get right into saving for a house deposit. We were lucky to not use all our money on the wedding and had some money as wedding gifts. So now we're up to £16,000 (well just over) and starting to think about just how much of a deposit we're going to need. Living in an area where the house prices are ridiculous doesn't help but I think something like £25k might be a good starting point. Really need to get a hold on the budget etc but that will really have to wait until after Christmas now.

Hi all


I would love to join this thread.


My aim is to buy a house in the northwest in around 3 years time Spring 2018.


I'm currently renting a lovely 2 bed house on my own whilst trying to squirrel away some savings.


The end of this month I will have my Emergency fund of £3,000 saved up.


My next saving goal is the House fund, I'm aiming for £17,000.
Deposit £15,000
Fees,Legal Ect £2,000


Spring 2018 feels miles away and I know its going be a hard slog. but I need to get started.


The plan is to save £500 per month into the house fund. If I have anything left over at the end of the month I will squirrel that into the fund at well.


Why are the house you really want always 30K more than what you can afford.


I dread to think what the prices will be like by 2018


Ta for reading

hi everyone!

Hoping to join this thread me and OH are going to be starting our deposit journey in january 2016 (xmas out the way). We won't be looking to buy our first house until 6years due to OH's defaults so we have a long wait ahead of us.

Does anyone have any tips in beginning your deposit journey? our area isn't too pricey looking at 180k-200k for a 3/4 bed detached house, we are planning a family and trying to get pregnant (OH already has a son) so it would need to be a 3 bed minimum. Joint net wage is around 2900 and after all bills/food/etc we should be left with 750 a month so squirrel away.

Would you soley save for baby fund first and put on hold the house fund or would you save for both but obviously split the savings?

Any help for a beginner is appreciated )

Amy x

£675 + whatever interest gained on the ISA for me.

I've made couple of offers on a very nice probate flat which I am trying to get not over excited about because it seems that I have competition.

I hope to know one way or the other soon, because I have made my best and final offer.

whichever way, I'll continue saving.