The 'We're saving for a deposit' thread

Ivana_B_Rich

Congratulations :beer::beer:

Next stop MFW?

mclaren32

We are getting close now, I have moved the goal posts so many times that I didnt think we ever would but we cant keep living at our parents for ever. Once we have got christmas out of the way we can start the viewings and hopefully we can get the bulk of our wedding saving done before we move in.

Im sure something will get in the way of these plans though....

VickyA_2

Ivana_B_Rich wrote: »

Congratulations :beer::beer:

Next stop MFW?

Thank you! And yes, once we've completed I'll be a paid up member of the MFW board. See you all over there! :beer:

purplevamp

:j Big congrats Vicky! :j

I hope you'll both be really happy in your new home, and that everything goes smoothly.

We're far far from joining you on the MFW board, but with some positive thinking and serious saving we should see you very soon!

Well done :A

dippykitty

VickyA wrote: »

Hello everyone!

A bit of an update from me. Well, I'll be leaving the wonderful support of this thread very soon due to the fact that...... we're buying a house! DH and I didn't get up to our £40k target, but we have got enough money to put down a 10% deposit AND have some money kept back for urgent works eg putting in a new central heating system.

We've managed to get a 90% mortgage from NatWest fixed for 5 yrs at 5.99%. Not the best rate necessarily, but we know what we'll be paying out for 5 yrs. There's also the option to overpay by 10% every year, so we'll attempt to get as close to that as possible. I haven't found a savings product that will give us a return (as yet!) of 5.99%. Like others have mentioned, we couldn't believe how much people would potentially lend us - up to 5 times our joint salary. Ridiculous! Goodness knows how we'd have paid that back! The mortgage, as it is, will be about 2.7x our salaries. We'll at least be able to eat as well.

So, I'm signing off for now. Hopefully we'll exchange in the next couple of weeks... Make sure that those fingers of yours are crossed!

Good luck with all your savings and if you're ever in the Rutland area, you'll have to pop in for a cuppa.

Congrats!

Louba

Congratulations VickyA and good luck with the move!

tara747

Congrats and good luck VickyA!!!

reformed_84

Evening All,
In desperate need of some inspiration!
I am now debt free and want to make some serious head way with saving up for a deposit! (Like us all!!) I have worked out that I can easily save up £550 a month- which isnt bad I guess.. But, after looking at the deposit amounts you folk seem to be saving up for, I think Im gonna be here forever!!
How long has it taken you get where you are today? How much are you saving per month? Other than your main wage, are you adding to the pot with money from other things as well?
Sorry for all the questions.. just really want to get my foot down now!

Thanks!!!!
Sarah xx

hostie1985

Hi everyone!

VickyA - congratulations on the news and hope its a smooth move for you :j

Reformed - would just like to say hello and welcome to the thread! and well done in becoming debt free! there are few guys and gals on here that have saved alot of money. it does take a little while - but knowing that you are saving for something that you really want will (hopefully) give the motivation you need - as well as us of course!
i have been saving for about a year and nearly at £15k. would like to save a bit more before i start looking thou! i have been more careful in what i am spending my money on this last year and whatever is left over at the end of the month before pay day goes straight into savings.

would just like to say good luck with the savings and keep us posted on how you are doing!

Hostie

xx

spudnik

We are saving, and have been saving since we were 16 we have almost 60k as you can imagine going to uni, buying cars (cash NEVER EVIL FINANCE) moving into rental, buying furniture put quite a dint in our savings.

Then the irritation of no matter how much we saved each year the house price increase just completely wiped any head way we had made.

It has now gotten to the point that we don't care anymore, we still save (its a habit after so long) occasionally have a quick look on rightmove (is it me or do most houses on there at the moment have something wrong with them?)

But we are happily living abroad and if house prices don't sort themselves out in the next 10 years, i think we will carry on saving never buy and live off the interest it should easily cover any rent and then in old age we won't have to worry about fixing guttering or stressing when the boiler breaks.

But we shall see we might buy we might not we are pretty ambiguous about the whole thing. but good luck to you all even if you don't buy a house at least you'll get into the saving habit.