We've decided to attempt the impossible

dbt3mummy

We are a military family and DH is half way through his 22 year engagement and after having the last 5 years of our lives dealing with debt we've decided to attempt what seems impossible!

All our debts will be cleared by Christmas this year and we are then going to attempt to save to buy our first home outright.

We've already had family comment that we must be mad etc but at present rent is extremely cheap and we've estimated from January 2012 we should be able to save near to £2000 a month - money that is already "allocated" with our current commitments.

And if something goes wrong or he has to come out of the military for medical or other problems, at least we know we should have a healthy deposit. So as we see it, it will be a win, win situation.

Since joining MSE we've taken charge of our finances and are finally in control.

Wish us luck!

dimbo61

Well good luck and the more you can save over the coming months/years! the better the deposit and more equity you have which then means the best mortgage rates !!!

dbt3mummy

That's what we were thinking - and whilst we are being given the best opportunity to save it seems silly to look a gift horse in the mouth!

pawlala

good luck!

Lottebear

Good Idea, we have just bought a place for when my OH leaves the Army in 9 years.

If you buy when he is still in it might be worth looking at Long service pay award, we used this for the deposit.