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  • FIRST POST
    RoxieW
    The 'We're saving for a deposit' thread
    • #1
    • 10th Mar 08, 10:03 AM
    The 'We're saving for a deposit' thread 10th Mar 08 at 10:03 AM
    Hi all

    Thought I'd start one of these as it seems a lot on this board are in this position and I couldn't find such a thread. Sorry if there is one - please point me in the direction of it someone!

    Not sure of the best way to do this, but thought it would be good to have a thread where we can state our goals, log our savings and encourage one another.

    So, I'll start -

    Hi I'm Roxie and I'm saving for a house deposit (titter)

    We currently have a 50% shared ownership 3 bed semi that has (at the minute!) 20K equity in our share.

    We want a whole house (lol) with 4 beds, an ensuite, a garage and utility. Basically, more living space all round.

    We currently have nearly £11K in saving and are aiming to save £700 a month - although this has gone to pot recently as we've been doing abit of sprucing up in our current house. £700 is generally quite realistic IF we stick to budget. Thats just the problem I'm afraid! I chart my progress in my sig below.

    Current savings portfolio

    £6500 - ISA 1
    £800 - ISA 2
    £2000 - 10% reg saver (£200 month to be transfered to ISA on term)
    £1250 - 10% regular saver (£250 a month to be transfered to ISA on term)
    £100 premium bonds

    total - £10650

    Monthly I save like this -
    £250 regular saver
    £200 regular saver
    £250 6% saving account - this is what I dip into if needs be.

    We're planning to have another baby and will have to move when said baby is 4/5 as our 3rd bedroom is teeny. We're aiming to have 50K saved by then, which seems realistic. As we're planning another baby I'm basing my figures on just one income as I dont plan to be working until little one starts school.

    My only worry is that the market will rise much more between now and then, rendering our deposit saving pointless.

    Does anyone thin it would be worthwhile sharing SOA's as on the DFW board so point out to each other where any possible cutbacks could be made in order to save?

    So that's me - anyone else care to join in?
    Last edited by RoxieW; 10-03-2008 at 10:22 AM.
    MANAGED TO CLEAR A 3K OVERDRAFT IN ONE FRUGAL, SUPER CHARGED MONEY EARNING MONTH!
    £10 a day challenge Aug £408.50, Sept £90
    Weekly.
    155/200
    "It's not always rainbows and butterflies, It's compromise that moves us along."
Page 240
    • Swash
    • By Swash 26th Sep 16, 4:14 PM
    • 91 Posts
    • 170 Thanks
    Swash
    £19000 now saved. Nearly there!
    "Nothing is permanent in this wicked world, not even our troubles".

    Emergency fund challenge #138 £1000 / £1000 - 100%
    Offer accepted 14/10/16~Full mortgage application 29/10/16~Mortgage offer, subject to valuation 2/11/16~Valuation 9/11/16
    • tara747
    • By tara747 28th Sep 16, 11:47 AM
    • 9,952 Posts
    • 26,410 Thanks
    tara747
    September update!


    It's a big one. I had a really lucky windfall this month so I'm declaring £5,133 for September, £11,582 so far in 2016 and £106,789 overall!


    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs
    Save £110,000 by 31 Dec 2016! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207
    eBay sales - £4,559.89 Cashback - £1,811.15
    Be a nicer daughter, sister and friend
    • chelseablue
    • By chelseablue 28th Sep 16, 11:49 AM
    • 1,850 Posts
    • 2,357 Thanks
    chelseablue
    Wow Tara that's amazing, did you win the lottery?


    Where abouts do you live? You might be able to buy a house outright
    Baby Boy born May 2014

    Mortgage starting balance 26.02.16 £231,294
    • tara747
    • By tara747 28th Sep 16, 12:13 PM
    • 9,952 Posts
    • 26,410 Thanks
    tara747
    Wow Tara that's amazing, did you win the lottery?


    Where abouts do you live? You might be able to buy a house outright
    Originally posted by chelseablue


    Haha, I wish! I've been saving for a few years now The windfall this month was a competition win, I could have either a holiday (to somewhere I didn't fancy going) or £4,000 in cash. I chose the cash!


    I probably could buy a house outright in some areas here, but I'm holding off for a while to see how things go after Article 50...
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs
    Save £110,000 by 31 Dec 2016! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207
    eBay sales - £4,559.89 Cashback - £1,811.15
    Be a nicer daughter, sister and friend
    • Lolly88
    • By Lolly88 28th Sep 16, 3:01 PM
    • 140 Posts
    • 492 Thanks
    Lolly88
    Wow what competition was that? I've never won a competition in my life, I would love to win £4000 cash.
    Saving for a House Deposit
    Save 12k in 2016 #002: £13,017.99/£12000
    Save 6k in 2015 #139: £8250
    /£6000
    Total: £21,267.99/£25,500 = 83.4%
    • tara747
    • By tara747 28th Sep 16, 4:01 PM
    • 9,952 Posts
    • 26,410 Thanks
    tara747
    Wow what competition was that? I've never won a competition in my life, I would love to win £4000 cash.
    Originally posted by Lolly88


    It was a competition run by a local company, can't say who as I like to be anon on MSE and you never know who might be reading


    I nearly fainted when I found out that I'd won! I wanted the cash rather than the trip when I entered. I'm sooooo chuffed
    Last edited by tara747; 28-09-2016 at 4:50 PM.
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs
    Save £110,000 by 31 Dec 2016! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207
    eBay sales - £4,559.89 Cashback - £1,811.15
    Be a nicer daughter, sister and friend
    • indianabones
    • By indianabones 30th Sep 16, 10:04 AM
    • 132 Posts
    • 144 Thanks
    indianabones
    This week I told my colleagues I was ready to move.

    I have saved just over 85k in 5 years. I have got married and had a baby in that time. I've had my wife's visa and naturalisation costs to deal with as well (over 3k easily). We also had a very expensive fortnight in Canada in May 2014.

    It's simple guys. We don't drink alcohol (religious reasons), I limit our outings and we're very careful with out shopping

    I have to say that the number 1 reason I've managed to save so much is my parents. They have a 2nd home and we've been living there all that time. If I were living in rent I'd expect my saving to come down from 85k to something like 40-50k.
    • compbren
    • By compbren 3rd Oct 16, 11:03 PM
    • 129 Posts
    • 194 Thanks
    compbren
    September Update

    Current total is £35,200

    Like Tara, I had an extra boost last month which has bumped things up very nicely. The last two months have been very hard with having holidays and stuff but hopefully I can really crack on for the remainder of the year.

    Just noticed tonight that my car has a big oil leak, so that's going to cost goodness knows what. Really pleased with how far I'm coming along! I haven't really done much MB for a while, so I'm not including that in my total, however, I need to start picking it up more so now as anything I make from that is going on a new car.
    House Deposit: £28,000 and still saving!
    • bobobski
    • By bobobski 13th Oct 16, 11:45 AM
    • 398 Posts
    • 1,024 Thanks
    bobobski
    Small update from me: I'm still very much at the beginning of my savings, but by the end of the month (provided I get paid!) I'll have £10,000 which will be my first big milestone!

    My ultimate target is approximately £80,000, of which £5,000 will be emergency fund and £15,000 will be "ancillary" moving costs (including SDLT, solicitors' fees, searches, furniture etc). Even then I think that'll be a bit tight but I'd like to leave it a bit before increasing my target again!

    I'm so, so grateful for this website and these forums - I literally could not (and did not) do it without them
    #86: Save £12k in 2016: £7,792.18 / £10,000 (77.92%) | #[ ]: Save 12k in 2017: £0 / £12,000 (0%)
    House deposit by 31/12/2020: £10,763.60 / £60,000 (17.93%)
    Emergency fund by 31/12/2020: £294.91 / £5,000 (5.89%)
    • tara747
    • By tara747 27th Oct 16, 12:10 PM
    • 9,952 Posts
    • 26,410 Thanks
    tara747
    October payday update!


    I saved £1,034 in October, which brings me to £12,616 so far in 2016 (target achieved 2 months early! ) and £107,823 overall.


    Wonder if I'll hit £110,000 by the end of the year
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs
    Save £110,000 by 31 Dec 2016! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207
    eBay sales - £4,559.89 Cashback - £1,811.15
    Be a nicer daughter, sister and friend
    • tara747
    • By tara747 28th Nov 16, 12:32 PM
    • 9,952 Posts
    • 26,410 Thanks
    tara747
    November payday update!


    I only managed to save £138 this month, due to booking long haul flights for next year


    That brings me to £12,754 so far in 2916, and £107,961 overall.


    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs
    Save £110,000 by 31 Dec 2016! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207
    eBay sales - £4,559.89 Cashback - £1,811.15
    Be a nicer daughter, sister and friend
    • pollyannaL
    • By pollyannaL 7th Dec 16, 11:08 PM
    • 4 Posts
    • 1 Thanks
    pollyannaL
    Hi all - new to thread.
    Desperate to buy mid 2017. Have £50k saved but this will be deposit, furniture, fees. Have 4% HTB too. I keep saving and then sneaking money back into current account to use! not good.

    How much are people putting aside for furniture/ fees?

    My perfect house is a victorian property, so may be a long wait to find the dream home.

    GOODLUCK
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