The 'We're saving for a deposit' thread

happytails

Well we have picked our solicitors and the rate + disbursements = £618 so we are chuffed with that!

The mortgage we are hoping to get is a FTB one at a rate of 5.99% which we are over the moon about :j

And things are hopefully going to move swiftly from now on! Going to the bank to sort my mortgage out tomorrow and getting the welcome pack from the solicitors soon too!

All exciting stuff, keep saving everyone! x

DaddyBear

Seems like a cool thread so thought I'd join in. Current plan is to buy in Spring 2011 which is when my current job contract ends and I'll be applying for registrar jobs. Also coincides with my prediction for the housing Market bottom.
We are looking at buying a house with a 20% deposit and with a mortgage that is 3 times my income plus one times wife's part time income. We currently have 35% saved over 2 years so are doing ok. Unfortunately the savings are likely to take a bit of a beating as the wife's maternity pay is about to drop down to statutory (she gave birth to Harriet in the spring).

happytails

DaddyBear wrote: »

Seems like a cool thread so thought I'd join in. Current plan is to buy in Spring 2011 which is when my current job contract ends and I'll be applying for registrar jobs. Also coincides with my prediction for the housing Market bottom.
We are looking at buying a house with a 20% deposit and with a mortgage that is 3 times my income plus one times wife's part time income. We currently have 35% saved over 2 years so are doing ok. Unfortunately the savings are likely to take a bit of a beating as the wife's maternity pay is about to drop down to statutory (she gave birth to Harriet in the spring).

Congratulations on the baby! Ours is nearing 5 months now and its really flown by! Enjoy every minute!

Dinah93

Well small moves forward on the deposit (she says, £1000 in the last 10 days), however we're trying to complete a business plan for the self-build to pitch to OHs dad as he has heavily hinted if we have a good one he will invest in us as a company, so the next two weeks are going to be head down and work out what goes into a business plan.

retepetsir

Guess I should 'join the club'. We've saved just under £10k in about a year, but with rent at £730 plus bills and everything else it's going to be hard to keep that up!

hostie1985

Hi everyone,

This is my first post on here but have been reading this thread for a while now and have decided to save for a deposit for a place. I have some money saved up already, i'm just over the £10k mark, have been saving for about 8 months so far.

Hostie X

jak

It is really hard to save a substantial amount while paying huge amounts of rent, isn't it? Or bills and rent come to nearly 1400 pcm and can't be cut anymore! So... anyway, just wanted a moan really

mouche

jak wrote: »

It is really hard to save a substantial amount while paying huge amounts of rent, isn't it? Or bills and rent come to nearly 1400 pcm and can't be cut anymore! So... anyway, just wanted a moan really

We're in the same boat jak - rent, bills and a bit put aside for holidays and for my in laws comes to £2000. If and when I have a child and go on maternity leave, we'll have to dig into our deposit savings to keep afloat. Sad days when you have to choose between having a child and paying your biils!

hostie1985

jak and mouche,

I know what you mean, i moved back with the parents a little while a go to save for a deposit for a place - it has saved me a lot of money, i was paying just over 550 for a room in a shared house.

jak

VERY sad! I know. We can't have another baby until we've bought a house so it'll be a fair wait for us too~! I don't want my son to be an o nly child but I ALSO want him to have a house that's ours to live in and that comes first at the moment!
You're doing really well with your saving, 60.76% is FAB! Well done
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