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Tips for saving up for the deposit?
marginalone
Posts: 194 Forumite
Hi,
Currently I have on offer from my landlord another 6 months lease in my flat for £450pm.
I really do wish to buy a house but again, its the old chestnut of FTB with no deposit.
After tax I have £1533pm. I do not have credit card debt, actually no debt at all.
I look at flats and the ones I love are out of my price range. However I wonder how the hell can Isave up for a good deposit to reach buying a flat £120k+? Im 30 this year and dont wish to rent forever!
Currently I have on offer from my landlord another 6 months lease in my flat for £450pm.
I really do wish to buy a house but again, its the old chestnut of FTB with no deposit.
After tax I have £1533pm. I do not have credit card debt, actually no debt at all.
I look at flats and the ones I love are out of my price range. However I wonder how the hell can Isave up for a good deposit to reach buying a flat £120k+? Im 30 this year and dont wish to rent forever!
0
Comments
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Credit Card, then move to interest free (Virgin give you max)
Tass0 -
Max out a credit card? And then end up with CC debt?!0
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You're not in a bad position in terms of earnings and having no debt. If you post a SOA you'll probably find you can juggle your current money to leave a nice sum to save each month.
If you do this, open a regular savings account (not sure if Alliance and Leicester is still paying 12%).0 -
Whats an SOA?
I would be really, really reluctant in using CC...0 -
Set a short-term goal, say 1 year, to go flat out and work 2 extra jobs ... just for one year.
Squirrel all that money away for your deposit.0 -
Unfortunatly, my present job makes the attraction of a 2nd impossible!0
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marginalone wrote: »Hi,
Currently I have on offer from my landlord another 6 months lease in my flat for £450pm.
I really do wish to buy a house but again, its the old chestnut of FTB with no deposit.
After tax I have £1533pm. I do not have credit card debt, actually no debt at all.
I look at flats and the ones I love are out of my price range. However I wonder how the hell can Isave up for a good deposit to reach buying a flat £120k+? Im 30 this year and dont wish to rent forever!
No debt and rent of just £450 p/m ?
Get saving , shouldnt take long0 -
Credit Card, then move to interest free (Virgin give you max)
Tass
what the f**k are you on about?
marg - don't panic about "missing the boat" - another one will be along soon.
(see stock reply #2 in my signiture)
In the meantime, save as much as you can for a deposit.
Have a good look around this site for ways of doing this and remember that decreasing your expenditure has the same effect as increasing your income.
best wishes.dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
dolce_vita wrote: »what the f**k are you on about?
marg - don't panic about "missing the boat" another one will be along soon.
(see stock reply #2 in my signiture)
In the meantime, save as much as you can for a deposit.
Have a good look around this site for ways of doing this and remember that decreasing your expenditure has the same effect as increasing your income.
best wishes.
Exactly why get in debt
save save save
im surprised tassotti didnt recommend renting for the rest of his life....0
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