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The 'We're saving for a deposit' thread
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Hi eternal_sunshine, I'm in NI too, no idea how much we will need for fees etc but should really find out lol.Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
Hi all, posted this on the other savings thread so copied here:
I have only just updated my Feb savings, I only saved £718 in Feb (went on hols at start of March but bought holiday currency in Feb) but saved more than I expected in Jan so total savings for 2010 so far (up to 28 Feb) = £1,875.
I am well under budget for March so far, should save a good amount this month. Total saved so far = £31,742.
What percentage deposit will that get you where you live? My current aim is for a 10% deposit.Squish0 -
What percentage deposit will that get you where you live? My current aim is for a 10% deposit.
No idea. OH and I earn about £60k between us and would like to have £60k saved between us by the time we buy (he has less saved than I do but by mid-2011 we should have £60k joint savings). We wouldn't want to borrow more than 2.5x joint salary maximum, which would be £150k (not counting pay rises). So I guess we'd be looking at houses between £160k and £200k maximum. That would make our deposit between 30% and 37%. I know we will be offered a higher mortgage, but we wouldn't want it.
Where do you live and what will your house buying budget be?Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
What are your targets everyone? And how did you decide on them?
I just picked £10k because it sounds like a good amount to save
. Not at all thought out except that if the OH manages to match it (:rotfl:) then I guess £20k sounds like a good amount for a deposit. I haven't researched this in any way but then having a larger/smaller target won't effect how much I save so I can just adjust it later if needs be. "It is often said that before you die your life passes before your eyes. It is in fact true. It's called living." Terry PratchettBought our house 2012
Married 2015 
Started renovating 2015 :eek:
Renovation fund... what renovation fund? :eek: Emergency fund 40% Future fund... ongoing...0 -
My OH will never catch up to my savings
unless I stop saving for a while!!! Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
My OH will never catch up to my savings unless I stop saving for a while!!!
Mine is due to inherit a bit soon, otherwise I would never even consider it a possibility!"It is often said that before you die your life passes before your eyes. It is in fact true. It's called living." Terry PratchettBought our house 2012 Married 2015 Started renovating 2015 :eek:
Renovation fund... what renovation fund? :eek: Emergency fund 40% Future fund... ongoing...0 -
What are your targets everyone? And how did you decide on them?
I just picked £10k because it sounds like a good amount to save. Not at all thought out except that if the OH manages to match it (:rotfl:) then I guess £20k sounds like a good amount for a deposit. I haven't researched this in any way but then having a larger/smaller target won't effect how much I save so I can just adjust it later if needs be.
I initially picked £10k for almost the same reason. Now I'm not sure £15k for for the deposit as added to my (potential) equity this will come to £30k and then I'd better make a start towards fees. There is a scheme at my work that would put some cash towards my deposit/fees as an interest free loan but aavoiding using this would be great as then all I'd owe would be my mortgage and my student loan (which according to some calculating on this site could be done by 2012).0 -
Mine is due to inherit a bit soon, otherwise I would never even consider it a possibility!
:rotfl:
Lucky you, wish my OH had a rich benefactor.Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
What are your targets everyone? And how did you decide on them?
I just picked £10k because it sounds like a good amount to save. Not at all thought out except that if the OH manages to match it (:rotfl:) then I guess £20k sounds like a good amount for a deposit. I haven't researched this in any way but then having a larger/smaller target won't effect how much I save so I can just adjust it later if needs be.
I don't really have a target, I just want to save *as much as possible* towards a deposit. My target is always the next £10k mark - the next is £40k. OH just saves whatever's left over at the end of the month (grr) but he is getting better. I think seeing his savings and interest build up is motivating him! He also has a slightly lower salary and higher outgoings than me (his pension contribution is higher, also he drives and hasn't finished paying off his studemt loan yet, whereas I managed not to take one out in the first place lol). Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
am loving this thread..can i join in - pretties please?How Much can you save -£6038/£10000
Where there's a Will there's always a way0
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