What size deposit do people on here have?

mclaren32

Currently saving 77% of net income and no we arent high earners just very careful and determined, we have a clear idea of what we want and we will be at about 12% in a couple of months time but I cant see us stopping there - it will end up being 15% minimum I would imagine short of an inheritance coming my way (no impossible).

torontoboy45

my turn.

combined with daughter's deposit, a total of 75%. both continuing to save.
looking at 90% if fall continues (c'mon, c'mon - get a move on) by end of 2010.
if our cunning, baldrick-type plan works we might - just might - be buying outright.

call me a 'vulture' by all means.

skap7309

Well my sig is pretty much dedicated to the deposit aspect so it needs no intro - however the figures are c.200k so 40% would represent a 80k deposit. Should be there by the end of the year - maybe a touch longer.

skap7309

Yoshua wrote: »

Where are all these deposits being held?

£14k in ISA
£23k in instant access
£4k in fixed rate regular saver
Couple of thou floating round in current accounts.
Couple of thou invested in stock for my business.

I know what you mean about the interest rates - luckily the regular saver is fixed at 10% but matures in four months time. It bothered me alot that most of my rates were over 6% not too long ago and im lucky if im getting 3% now but to think every month house prices collapse the more its worth over interest rates.

lostinrates

Walletwatch wrote: »

One important question I wanted to ask was how many of those that have given their saved up deposit figures include their ISA amounts in it? Would you break up your ISA amounts for a housing deposit, or would you keep the ISA wrapper on and only use your non-ISA savings?

I only recently put money in an ISA. I have no pension and starting to put money in an ISA is my half hearted attempt to start future planning in times where future is proven as being impossible to predict, my ISA DH pays a little into each month now and is, TBH, the only thing getting a decent rate. I don't count it as house money and its value would have significant impact by the time we buy. DH has a little more in ISAa...not a huge amount at all though. I doubt we'd touch that yet.

ETA: also re frugality DH and I have relaxed a LOT this year. I think although we will always be determined to prioritise spending cutting out things that don't mean much to us, the financial crisis has reminded us that really, there is no dress rehearsal. Next year (well, this year March to March) will be a dip in income for us. DH will have a small salary rise from current job but other sources of income come to an end, and then the March after DH should receive a contracted pay increase next March. Wehave already decided to save the salary increase but not freak about saving what we did a year ago.

byb3

We've only just started saving up, we'll manage to max the ISA out this year and will have an estimated 7-8k by October this year. Due to my job moving we are needing to move around then, so with a bit of help from the folks I could in theory get a 90% LTV mortgage around then, maybe even 85% at a push. I worked out that it would be better value to be on a 90% mortgage than to fritter it all away on rent.

All depends on how house prices go in the next 6 months!

mbga9pgf

One important question I wanted to ask was how many of those that have given their saved up deposit figures include their ISA amounts in it? Would you break up your ISA amounts for a housing deposit, or would you keep the ISA wrapper on and only use your non-ISA savings?

We are pulling our NS&I isas this year as you can get better returns with online savers now even after tax....

b0rker

There is a lot of pent up frustration in a lot of cities in the UK. Places where people were saving for a property for years. The problem was that property was always getting that little bit further away from them every year during the HPI. Those that did not end up buying at or near the top are now still sitting on those deposits. Deposits that were saved over the best part of a decade. Certainly I know of lots of FTBs in my city who are sitting like fly traps waiting for the fly to land. As soon as the prices here level out or show any kind of growth they will be straight in. I know a few who have already bought as they have had a decade of waiting and were not prepared to wait any longer. With 5 year fixes and the ability to save at the same rate as they did when they were renting they have no worries about short term negative equity.

I think there will be a massive amount of demand as soon as signals suggest that the bottom is hit. In fact it would be healthier all round if purchasing took place in a more controlled fashion but I can see it being fairly chaotic when it does occur. I also don't see the value of the average property in my area dropping by any more than 10%-15% tops. Then again Inverness is a pretty desireable place to live.

roxalana

We were saving 10% deposit and now we have reached that it looks like we might need 20% so we are currently saving everything we can and should get there by the end of the year.

Darned goal posts keep moving!

Mr_Matey

Currently around 40% but dependent on FOREX rates, as our first place will most likely be in Sydney.