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How much did you have left in savings after house purchase?
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As a first time buyer, when I do finally buy in the next couple of years I expect to have relatively little savings left.
It depends on how smoothly the search and buying process goes. I am over estimating my fees budget to hopefully cover me in the event of a deal falling through. If everything goes ideally then I'll probably have between 2 and 3k left but I'm not relying on that.
I also plan to continue saving during my search for properties, as I envisage it could take a while to find a place that I want to buy.
And so the extra savings made on top of my target deposit amount and fees budget will be intended for either repair work, furnishing, white goods, decoration or if the search period is really long a new kitchen.:www: Progress Report :www:
Offer accepted: £107'000
Deposit: £23'000
Mortgage approved for: £84'000
Exchanged: 2/3/16
:T ... complete on 9/3/16 ... :T0 -
I have about £557k in savings and shares and no mortgage. £270k semi. Still 20 years till state retirement.0
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