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Getting money for a flat deposit

chunky-monkey_8
chunky-monkey_8 Posts: 10 Forumite
in House buying, renting & selling
Me and my Fiancee want to get our own place and we have found a flat that we though we could afford after adding up the rent and utility bills we noticed that we could afford it. But we forgot about the deposit. The Deposit is £535 and this is the lowest deposit for a 2 bedroom flat in our area. We have no savings to use to pay the deposite I was wondering what ways can i get the money for the deposit?
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Comments

  • Jowo_2
    Jowo_2 Posts: 8,308 Forumite
    In the same way you scraped together the first months rent which is also payable in advance....?

    Alternatively, if you are on benefits (with some councils perhaps also a low income), your local council may run a deposit guarantee scheme. Check their website.
  • chunky-monkey_8
    chunky-monkey_8 Posts: 10 Forumite
    so your saying to save up the £535?
  • dreameavergeorge
    dreameavergeorge Posts: 25 Forumite
    Not sure what your scenario is, but there is a crisis loan through the social fund. Not sure how it all works and I'm apparently not allowed to post links as I'm new, so can't even help with that :o
  • chunky-monkey_8
    chunky-monkey_8 Posts: 10 Forumite
    dreameavergeorge wrote: »
    Not sure what your scenario is, but there is a crisis loan through the social fund. Not sure how it all works and I'm apparently not allowed to post links as I'm new, so can't even help with that :o

    Thanks dreameavergeorge I will google that and have a look:D
  • terryw
    terryw Posts: 4,396 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    chunky-monkey wrote: »
    so your saying to save up the £535?


    I believe that the previous poster was suggesting this as a possible answer to your problem of wishing to live with your lass.


    Hey, if you really love the lass and you wish to have a dwelling in which to live, you will work all the hours that you can to achieve your wish.

    Go for it! Put in the graft.
    "If you can bear to hear the truth you've spoken
    Twisted by knaves to make a trap for fools"
    Extract from "If" by Rudyard Kipling
  • chunky-monkey_8
    chunky-monkey_8 Posts: 10 Forumite
    edited 7 June 2010 at 9:16PM
    terryw wrote: »
    I believe that the previous poster was suggesting this as a possible answer to your problem of wishing to live with your lass.


    Hey, if you really love the lass and you wish to have a dwelling in which to live, you will work all the hours that you can to achieve your wish.

    Go for it! Put in the graft.

    I am currently working 7 days a week to earn the money for the 1st months rent and the deposit but we are worrying that once we get enough money the flat will have gone :(. I have gained an extra 31 hours this month which equals £193.44
  • terryw
    terryw Posts: 4,396 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    Don't worry there are loads and loads of flats on the market. Even if you miss this one another will appear. Your girlfriend will no doubt help out as well from her earnings. Go for it -use all the MSE tips on these forums and you will find that fairly quickly you (the pair of you) will have achieved the cash to start your life together.

    Start asking your friends and relatives to assist, not just with money but for the items that you will need for your life together. Many people have things like pots and pans and bedding which they have no use for - but they will save you a fortune to assist you in realizing your dream. Check out "freecycle" on google. Collect these items as a "bottom drawer".

    Go for it! You might have to wait a month or so but your young lady will think the more of you for the effort that you have put in.
    "If you can bear to hear the truth you've spoken
    Twisted by knaves to make a trap for fools"
    Extract from "If" by Rudyard Kipling
  • chunky-monkey_8
    chunky-monkey_8 Posts: 10 Forumite
    terryw wrote: »
    Don't worry there are loads and loads of flats on the market. Even if you miss this one another will appear. Your girlfriend will no doubt help out as well from her earnings. Go for it -use all the MSE tips on these forums and you will find that fairly quickly you (the pair of you) will have achieved the cash to start your life together.

    Start asking your friends and relatives to assist, not just with money but for the items that you will need for your life together. Many people have things like pots and pans and bedding which they have no use for - but they will save you a fortune to assist you in realizing your dream. Check out "freecycle" on google. Collect these items as a "bottom drawer".

    Go for it! You might have to wait a month or so but your young lady will think the more of you for the effort that you have put in.

    Thanks terryw :p I have asked work for extra contracted hours and i have also found a site that i can sell m unwanted dvds on so that will go towards the flat fund =D
  • mrcol1000
    mrcol1000 Posts: 4,799 Forumite
    Part of the Furniture 1,000 Posts
    Many letting agents let you pay the first month rent and deposit on a credit card. Although obviously that only gives you an extra 28-56 days to pay it without incurring interest it does give you a breather. Or get a credit card with 0% interest for 6 months and use that. Just remember to pay it off.
  • stealeruk
    stealeruk Posts: 36 Forumite
    mrcol1000 wrote: »
    Many letting agents let you pay the first month rent and deposit on a credit card. Although obviously that only gives you an extra 28-56 days to pay it without incurring interest it does give you a breather. Or get a credit card with 0% interest for 6 months and use that. Just remember to pay it off.

    Not so sure this is a good idea, if you're struggling to raise the money now, it's going to be even hardy to raise the money while paying the rent.
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