The 'We're saving for a deposit' thread

tara747

Dinah93 - that is another reason why I am deffo waiting till the bottom (or near as poss) to buy with or without OH. On my own, losing my hard-earned deposit to NE would be devastating. If we buy together, I stand to lose so much more than him if we end up in NE!!!

I think the market in Northern Ireland has a way to fall yet.

penguingirl

Dinah93 wrote: »

Completely see your point, but this is why I wouldn't buy without being married, because buying a house is a huge commitment and I would need to know that it was going somewhere.

I suppose this is just something that everyone has individual views on- to me I am willing to make a commitment of buying a house together and I am not overly concerned about the joint finance thing- but being able to maintain individual savings was just a plus to the type of mortgage we are getting (and not something we were aware we could do/ had really thought about until we had been approved), but it just sits happier with me because I earn less than my OH, but hopefully will be able to catch up after post-grad qualifications. It just all seems a little bit less complicated this way. And yes if we got married things might change- but at the moment that's not a particularly high priority for either of us.

Mr_Matey

Mr_Matey wrote: »

Hi all,
I'm looking to buy my first home with my OH, most likely in Australia, in 2-5 years for around £240k at current exchange rates. Hopefully then Aus will have its long overdue property crash.
I'm about to turn 30 :eek: and have been working full time for 6 years. My OH is 24 and we are debt free.

Currently we have around £90k saved and my parents will chip in about £20k.

We're aiming to put away £30k p.a. for the next 2 years which should give us a total of £170k + investment income. A weaker AUD would help and a strong GBP would mean cheaper holidays.

So the aim is to save £60k in 2 years and have a £170k deposit.

7 months later and time for an update.

We're now at around £106k, so up £16k since the start of the year. Looking about right so far!

mdhughes03

well payday has been and we now have saved 6.6% of the average house price round here. Seen a house we really like for less though so hoping it is still there when we hit that magic 10% number

Carrie85

It's good to see everyone doing so well.

I've just managed to add £350 to my savings, £150 more than normal because of a refund I received.

So happy as i've now broken the £2000 mark :j, small target but good to break those barriers.

mishelly

I'm saving for a deposit too, woo. Although i'm waiting for my new isa to come through so that i can put a wedge in and get a better interest rate and i think i am going to stick the rest in a high interest savings account.

I am quite lucky in that I can save quite quickly but now i am wondering should i just put off buying a house for the next four years and just buy outright, then again, i think i am too impatient for that!

We will see how it goes and happy saving to you all x

ManPants

My current mortgage changed last week so I have paid my £18,000 worth of savings into it to off set some of the deposit the other half put down. Apart from £1750 on a year long 10% interest account I have NOTHING, DE NADA, NOWT!

Back to the beginning!!

Hope you are all well!

littlemermaid_2

Hi all, it's great to see so many people doing so well with savings, especially at the moment! I've been lurking for a bit, would love to join if you'll have me!

Myself and OH are saving for £130k - £140 ish terrace or small semi in our current local area, we were aiming for about £40k to cover deposit and fees. We were almost there and had started viewing a few houses, but sadly I was made redundant a couple of months ago so we had to put it all on hold. Not sure if that's a good thing, house prices seem to be pretty static round our way with hardly anything selling, vendors not really dropping!

Still looking for a job at the moment - I got some redundancy so thankfully haven't spent any of my original savings yet. (We live with family so fortunately our outgoings are lower than full market rent/bills would be and we managed to pay off our debts about three years ago and start serious savings.) We've been together over 10 years so it's about time we had a place that's really ours, got this far so hopefully if I get a job we can get there soon! Best of luck to everyone!

tara747

Well done everyone! This thread is an inspiration.

My savings are creeping towards the £27,000 mark and I am on track for the £30,000 by the end of the year! Next goal... £40,000?

OH is doing ok but still lagging way behind me. We haven't sorted out how we would buy together yet, I am trying to think of how best to broach it.

hostie1985

just want to say well done to everyone on the savings! its amazing how quickly you can all save.....

ive just put in £1270 this month in savings, now i have just gone over the £11,500 mark (sig updated), hoping to get to the £12,000 mark by the end of august as i have loads to pay out this month.

hostie

xx