The Gibberish trek to a deposit!



  • November payday update:

    My LT ISA: £2,810.74
    OH LT ISA: £7001.78
    Total: £9,812.52/ £15,000 - 65.4%

    Almost 10k yay! We will have 10k going into 2019 which is exciting!
    We've also received £5000 from OH's parents which can either be used for a deposit or for our future wedding (we're not even engaged yet though haha!) So technically we have reached our target (almost) and can start properly looking in the new year but we're still going to try and reach the 15k ourselves because I think OH's parents would rather the 5k went on the wedding so would be nice to do that for them as far as possible. (Getting exciting now and our new home is almost within reach!)

    Nothing much else to report this month, plodding along as usual :) I'm entered the busy season at work so very hectic but thats no surprise!
  • savingwannabe
    savingwannabe Posts: 16,610
    First Anniversary First Post
    Well done. :j:beer:
    Aiming for a minimal spend 2022
  • Got paid today for some of my teaching work so I plonked £260 straight into the ISA which means we are officially at 10k woohoo!

    Feels exciting to hit this milestone :D! Looking forward to really start the property search in the new year whilst still continuing to save even more :)
  • well done :beer::j:beer: £10000 is an amazing amount !!
    0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
    House sale OCT 2022 = NOW MORTGAGE FREE 🤗
    House purchase completed FEB 2023 🥳🍾 Left work. 🤗

    Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).

    Previous Savings diary

    Living off savings diary
  • atrixa
    atrixa Posts: 549
    First Anniversary First Post Photogenic Name Dropper
    Well done, that's a huge achievement!
  • Thank you Skint and Atrixa.. very exciting times. Have got a viewing booked on Wednesday so looking forward to starting the search and getting on that property ladder. We're not going to rush into it so will just see what properties come up as we want to make sure we're choosing the right place :)

    Last update for 2018:
    My LT ISA: £3170.74
    OH LT ISA: £7001.78
    Total: £10,172.52/ £15,000 - 67.8%
    With money from parents: £15,172.52 / £15,000 - 101.15%

    Still going to keep saving as would like the £15,000 to be as much of our own money as possible but yay heres to 2019!
  • Belated January update!

    We've started viewing houses but the market seems pretty dead at the moment to nothing much to report. Still saving though because the more we can have of the £15,000 ourselves the better :)

    My LT ISA: £3723.24
    OH LT ISA: £7039.28
    Total: £10,762.52/ £15,000 - 71.8%
    With money from parents: £15,762.52 / £15,000
  • February update:

    My LT ISA: 4335.74
    OH LT ISA: 7039.28
    Total: £11,375.02 / £15,000.00 - 75.83%

    With money from parents: £16375.02 / £15000

    Nothing much to report, we've found a house we love but it's just outside of our price range :( We're hoping that in the current economic climate they may drop the price but it's just a waiting game. Besides that next to nothing has really been coming up so we're just waiting patiently and continuing to save in the meantime. I'm secretly hoping we'll have the full £15000 ourselves by the time we find somewhere we can save the £5000 for a wedding but we shall see, still chipping away!

    I had a busy February with exams etc in early March so now I'm free which is great and it feels odd to have so much free time again. I'm enjoying it very much!
  • savingwannabe
    savingwannabe Posts: 16,610
    First Anniversary First Post
    Hurrah for free time. Enjoy it.

    Excellent news on your savings Gibberish. I hope they do drop the house price - maybe something good will come out of the current economic climate. Have a good week.
    Aiming for a minimal spend 2022
  • Gibberish94
    Gibberish94 Posts: 30 Forumite
    BIG NEWS! We found a house!!!!
    We put in an offer and it's been accepted yay! Still lots to sort out but we are so so excited :D!

    Offer made £300,000

    Current deposit:
    My LT ISA: £4780
    OH LT ISA: £12,039
    Gov bonus due: £1,250
    Total deposit = £18,069

    I'm planning on putting another £500 in before things get submitted so final deposit will be a bit higher than that.

    We put the £5000 from family into the ISA - I know I said I wanted to save that £5,000 for wedding but speaking to the mortgage broker our mortgage repayments will only be £75 more than our current rent (I thought it would be much more!), our new property has solar panels so gas and electricity will be less than a quarter of what we currently pay so we should both be able to continue savings and I should be getting a healthy pay rise within the next 6 months so saving that £5000 again shouldn't be too much of a problem over 3 years or so, so it made sense to put the £5000 in the ISA and get the £1250 bonus on it (not often you get free money like that)!

    Exciting times ahead, hopefully everything goes through ok etc but I'll try to keep this post updated until we move on to the mortgage free wannabe thread!

    I don't think anything will move very quickly as the sellers are yet to find somewhere still and they're moving quite far away but we're in no rush as we're in rented so just going to sit tight and (hopefully) enjoy the ride!
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