The 'We're saving for a deposit' thread

dippykitty

JimLad wrote: »

Well thats Christmas over and done with, my god im full of turkey!

I havent been on this thread for ages so i thought i would pop in and say hello!

Im up to 73% of my target for a deposit now which is looking lovely.

I have a week off now, so its time to list a few of those things i never use on ebay!

Your total is moving up nicely!:D

ses6jwg

Alright guys, only just noticed this thread, I am also adding to the savings my parents put aside for me as a deposit.

Typically, what is a realistic figure needed for a deposit?

I live in Mid/ South Wales and house prices are a bit lower than everywhere else which does help...

I am 21 and currently living with parents so no rent, I earn about £1200 a month and manage to save around £500 of it.

However my job is only a 1 year contract so could be out of work in March, so don't want to get a house until I am absolutely sure.

At the moment I have about £10,000 in cash ISAs (£7,000 is locked up until summer 2011), £7,000 in an investment account (individual shares), £3,800 in a S&S ISA and £9,500 in an instant access....

tara747

I am going to tot up my savings after 1 Jan to see if I've made my target for 2009. I have done a little sale shopping so it will be interesting!! Half of it will end up being returned though. :rotfl:

JimLad

ses6jwg wrote: »

Alright guys, only just noticed this thread, I am also adding to the savings my parents put aside for me as a deposit.

Typically, what is a realistic figure needed for a deposit?

I live in Mid/ South Wales and house prices are a bit lower than everywhere else which does help...

I am 21 and currently living with parents so no rent, I earn about £1200 a month and manage to save around £500 of it.

However my job is only a 1 year contract so could be out of work in March, so don't want to get a house until I am absolutely sure.

At the moment I have about £10,000 in cash ISAs (£7,000 is locked up until summer 2011), £7,000 in an investment account (individual shares), £3,800 in a S&S ISA and £9,500 in an instant access....

That is a tidy sum you have accumulated there my friend. £37k is more than enough for a deposit on a house, especially if your living in an area where prices are lower.

The best deals for mortgages start at around a 20% deposit so your looking good.

The only issue now is getting as stable job that pays enough to allow you to borrow what you need )

Are you buying on your own?

tara747 wrote: »

I am going to tot up my savings after 1 Jan to see if I've made my target for 2009. I have done a little sale shopping so it will be interesting!! Half of it will end up being returned though. :rotfl:

Why did you buy a load of stuff only to take it back for sure? Or is this just a woman thing.....

Hope you get to your target!

tara747

JimLad wrote: »

Why did you buy a load of stuff only to take it back for sure? Or is this just a woman thing.....

No, just that some of it won't fit me. The perils of online shopping!

5monkey

Im saving for a house and I have just updated my signature!!!

dippykitty

tara747 wrote: »

I am going to tot up my savings after 1 Jan to see if I've made my target for 2009. I have done a little sale shopping so it will be interesting!! Half of it will end up being returned though. :rotfl:

Fingers crossed that you've hit the total!:D

ManPants

Is there anyone on here that already has their first house and is saving up for another, bigger, more expensive second house? Perhaps in an area that they might choose rather than where they first felt they had to to get on the property ladder?

juicygirl

Hey all,

Can I join in? I am currently in the process of clearing debt and starting to save for a deposit for a new home. The one that I am currently in love with would require a deposit of £44850 (my current mortgage provider requires a 15% deposit and I am tied in for another 22 months with them). Realistically this house will be long gone before I save that much but there will be others so really need to get in gear! I earn a good income and reckon the debt will be gone by summer and hopefully at least £5000 in the deposit fund by then

Oh and going by current prices if our flat sold (not on the market yet) then we would make approx £15k so it's not quite as big a mountain as it looks!

hostie1985

Hi everyone!

Hope everyone is doing well in deposit savings! Havent been on MSE for ages it seems - everyone is doing so well! Just a quick update from me - hoping to reach my £15,000 target by the end of the day (its taken me just over a year to do it but im so pleased with myself) - i will update my sig either tonight or tomorrow.

Happy new year everyone and wish you all the best on the savings front in 2010 and beyond!

Hostie

xx