The 'We're saving for a deposit' thread

PennyCrayon_2

Hi Peeps,

I have set an achievable goal for 2010. I would like to have saved 15K towards a deposit by the end of the year. My savings are depleting at the
moment but I am confident that I can still do it.

I think i can do it if I live as frugally as possible.

tara747

black_taxi wrote: »

is it ever possible to save at a quicker rate than house price inflation?

It is when HPI is negative!!! :rotfl:

Dinah93

Alliance & Leicester seem to specalise in FTB morgages, and offer a 15% deposit one at up to 4.75 income multiple. Its what we've taken, on a £123,000 morgage we found the difference between a 10% deposit and a 20% deposit to be over £160 a month.

Carrie85

Hey everyone, just added another £200 to my savings which puts me really close to 25% of my target.

Im hoping to add more this month, again just waiting for invoices to be paid.

nakiwala123

My challange
pay off my £400 credit card debt this month (it is still 0% interest so no worries there).

£0/£4000 emergency fund
£800/£25000 deposit
£0/£4000 moving costs e.g.solicitors, etc
£0/£5000 furniture (FTB so need everything... i might nick a few pots and plates off mother! lol)

looks like I have a long way to go:embarasse

This is a good thread. Everyone on here seems to be determined that it is catching! lol



Good luck everyone.

rictus123

Il need simular to that Nakiwala, only thing is i think il want a bit more than £4k emergency fund. If i got a £25k deposit and the gf managed to match it it would be perfect. Im saving in the mindset i could end up buying on my own.

nakiwala123

Rictus 123, good luck with your efforts. I too are saving with the same mindset that I might end up buying on my own as OH is not earning much at the moment but things could change, so we will have to wait and see.

I have caught the bug as I have even built myself a spreadsheet with fancy graphs to see the upward trend! Hopefully.:j

nakiwala123

Hi everyone, you have all inspired me to get on and save some more! added another £300 to the pot. I stand at £439/£35,000 deposit. Every little helps.

I still have a long way to go yet I find myself on Rightmove every so often!

What is this Property bee?

Squish_21

nakiwala123 wrote: »

Hi everyone, you have all inspired me to get on and save some more! added another £300 to the pot. I stand at £439/£35,000 deposit. Every little helps.

I still have a long way to go yet I find myself on Rightmove every so often!

What is this Property bee?

Property bee is great, you download it as a browser add on and then it tells you further information than rightmove can about the houses. i.e It will tell you when a price drop occurs or when a new house is added. Very useful.

Google it - then download :cool:

nakiwala123

Thanks to Squish 21 for that detail. I will check it out.

Another £70 added to the pot:j.