The 'We're saving for a deposit' thread

VKay

I know what you mean about handing over your savings. This week I'll be transferring my deposit- 5 years of hard saving into the solicitors bank account.

I feel really nervous giving away my security blanket!

Phirefly

stupotstu wrote: »

That is amazing!!

I guess that you are a couple saving £2000 a month combined? If you're doing this alone and saving £2000 a month that is amazing!!

After a few slack months I'm back on target & saving £1000 each month.

Good Luck!

Yeah, thats £2000 a month between the 2 of us, its a considerable wedge of our take-home, but we've decided to do without luxuries for a couple of years. It does help that we've a shared goal and when we're feeling disillusioned with it all, there's someone to remind you why you're making sacrifices (usually its me reminding Mr. Phirefly though!!)

Louba wrote: »

Phirefly those houses look amazing! Well done on your savings so far you're doing really well
I think I need to stop looking at property websites until we have more saved........I just get frustrated that we can't afford them yet . All in the name of researching what we can afford......

I know; there's a fine line between Rightmove being a motivational tool and becoming an unhealthy obsession that just leaves you frustrated - I must admit I lapse into the latter from time to time!

before_hollywood

Ivana_B_Rich wrote: »

Me :rolleyes:. It's lovely to have savings, I'll really miss the security of having them when I finally buy.

I suspect that I've turned in to a saver now, so will probably become a MFW and start saving all over again

hahaha me too. i moved in june, went from 11k in savings to 300 o/d, 200 loan, etc, now 1100 in savings.

not bad for 4 paypackets

when i had my mortgage affordability interview thing i was asked how much i saved a month and i said 500, the mortgage advisor said i wouldnt be able to do that once i bought somewhere

hmmmmm......i wonder

chrissy_stevo

I am going to have to join the party, I will add details later when im home from work and have more time and can get the numbers

Dinah93

Well we're (briefly) at 25%, although tomorrow nearly £1000 will come off this to pay the deposit on the wedding venue. We're also going to view a house tonight. Ideal location, complete dump of a house. No central heating even! Would need about £30k of work, and still wouldnt be our dream house, but would make a good profit and would be well under our budget so very low mortgage payments meaning we could overpay and move to a nicer house in a few years. Better run now or I'll be late!

black_taxi_2

whats the general rule to save deposit for house.if there is a rule

i.e. how many years?ratio deposit savings v houseprices

thx

dippykitty

Hope the house viewing goes well, Dinah! You're much braver than me to even contemplate that much work but it does sound promising if it's under budget and the mortgage would be low

chrissy_stevo

Well

Im a single lad saving for my first house. I work full time and am doing a part time degree so the plan is to save as much as I can until I have competed my degree then think about buying. I was in debt of about 15k a few years back but ive cleared that and Im keen to get on the property ladder.

I curreny am aiming to save £500 per month as thi will enable me to also have an eccellent social life (I dont see any point in giving up my life) as well as paying my outgoings each month.

Currenly have 6k saved and hope to have around 17k by the time I finish uni in august 2011

Dinah93

Well that was a bust - the vendor has had the electric disconnected so we have to go back at the weekend in the daylight!!!

Vixstar

Sorry bit off topic but... Louba was the Amex cashback just deposited to your card or did you have to do something to trigger it?