What size deposit do people on here have?

Cleaver

ad9898 wrote: »

mmmmm, I'm tempted, but if I pull up at the MGM Grand and she says 'where's Mickey ?', the answer I will give her is likely to cause me much grief.:D

"Mickey is drunk and has been arrested. Be nice for the creche worker, Daddy will come and get you in 12 hours. Be a good girl now."

The_White_Horse

what do people mean by "100% deposit"?

Cleaver

The_White_Horse wrote: »

what do people mean by "100% deposit"?

That they have enough money saved to buy the property they want to live in without a mortgage I presume.

Either that or it's like a branding slogan. Like, 100% max, 100% real, 100% deposit. Dude.

I think the former.

LydiaJ

Swipe wrote: »

I think you underestimate how many are capable of saving entirely from salary. It's easily done over 8 years with a little discipline and self control.

I'm sure that's true for some people (including you, I expect). But it's too much of a generalisation. It depends how much you can earn, and whether you've got kids to support, and how big a deposit you need (ie how expensive houses are in your area) and a load of other factors.

SlimJ_GBR

Looking at about £50k saved here at the moment, but the longer the prices of property fall/stay low and the longer I stay employed the more I will be able to save. I would love to buy a decent sized 3 bed house in 18-24 months time with less than 50% mortgage. Sooner I can be debt free the better!

slopemaster

! saved 50% of my salary for about 6 years and now have a reasonable deposit - it would be maybe 60% of the price of a 1-bed flat, 50% of a 2-bed flat, or 40% of a small terrace

Dithering_Dad

Swipe wrote: »

I get the impression this thread was created to prove a point and it appears the point has been proved albeit not in the favour of the OP. Lots of people out there with big deposits, and the reason being mainly due to them refraining from entering into the housing bubble over the last couple of years. Good things come to those who wait.

Actually it was kinda to prove a point, and it did prove it in my favour.

I was having a discussion on another thread where someone said I was in cloudcookooland (or words to that effect) if I thought that FTBers could save up 25% deposits. I pointed out that plenty of MSErs on here had done just that, and I was mocked when I could 'only' produce 3 names off the top of my head.

http://forums.moneysavingexpert.com/showpost.html?p=18791005&postcount=61

Well, I hope this thread goes some way to prove that at least some prospective buyers in the UK have their financial heads screwed on and that there are plenty more people who perhaps don't have 25% saved up just yet but are beavering away to get there. Good luck to em.

Incidently, what on earth made you think that "it appears the point has been proved albeit not in the favour of the OP"? When have I ever posted anything derogatory about FTBers?

Dithering_Dad

dopester wrote: »

100%. "Mister 100%."

I've noted DD's posts where he cautions about how life in the future isn't always as simple - and life can throw up the unexpected, so we shouldn't be too harsh on people in difficult circumstances. I agree, except for when they've been very reckless and used their homes as cash-machines for years.

Still.. DD warnings hit fully that I'd prefer to live within my means and have the satisfaction of that, rather than risking more on a dream-house with big mortgage.

So just a small but well-built house.. - has to be energy efficient. Small, charming but practical that I can buy outright without a mortgage. Not a flat though.

I'm glad someone finally gets me, Dopester.

I'm not a 'soft touch' either, if people have gotten into financial difficulties because of reckless spending then I don't have much sympathy (except for their family) but if they then try and work their way out of it then they have my absolute support.

bo_drinker

Walletwatch wrote: »

I have 110k, plan is to get to 150k by the end of the year, but going by current prices, even 150k would only be 50% in my area (Canary Wharf), its a pity prices are not falling as much as one would expect in my neck of the woods...

Not long now. The financial sector is crumbling prices should crumble big time if given a chance as London will feel it BIG TIME. Other than tourism what will there be for the cockney people. Knife crime not a good ad either, as it's the capital of the UK when it comes to the blades innit man...:rotfl:

Yoshua

Where are all these deposits being held?

The banks are not giving much interest. Plus the pound is devaluing and losing buying power.

It make me wonder if you will lose less money just buying a house and watching it depreciate.