The 'We're saving for a deposit' thread

Squish_21

Does everyone have a Mortgage in Priniciple from the bank they are thinking of getting a mortgage with?

Im thinking of getting one from Nationwide.

vixarooni

Hello dinah!! ha. Isnt it funny the people you see cropping up.

I have a tricky situation, do i save 10% at about 16,000 or 15% at 24,000? Whilst living at my boyfriends house after we have been living on our own for a year and a half. We can save £16,000 in about 10 months if we stick to our savings plan, and 16 months or so for the £24,000. I'd rather save up to 24 grand, but living with my inlaws scares me into wanting to go for the 10 month route. Im very grateful for them letting us move in with them, but i just know its going to be insanely hard to go back to living with parents as a couple!

ray123

Squish_21 wrote: »

Does everyone have a Mortgage in Priniciple from the bank they are thinking of getting a mortgage with?

Im thinking of getting one from Nationwide.

Do not have a mortgage in principle.

I am looking at HSBC, Post office, First Direct, YBS.

Depending on how % deposit you have, you may be able to obtain a better deal elsewhere.

Simon11

I'm in the same boat

Always been a saver, even from when I started as a paperround boy when 13

Last year/2 been thinking of getting a place of my own:D I'm 21 now.

I've got 5 months of my placement contract, final year of uni, travel for a few months before finding a job:D

Once settled in job, I'm going to look at places and hopefully have enough money for a deposit;)

My target it to save £32,000 for deposit and fees. Got close to £25k now, however got a few things that are going to take money out of pot:o Mainly Getting my eyes lasered and 6months gap year style trip:D

However working hard for last 3 years saving as much money as possible while at uni and in placement. I'm working 5 days at placement, then at least Sat/Sun at part time job to up my savings:j Once back at Uni be looking to increase hours. My view is that if im sitting at home doing nothing, then thats money wasted that I could have earnt:D

Squish_21

ray123 wrote: »

Do not have a mortgage in principle.

I am looking at HSBC, Post office, First Direct, YBS.

Depending on how % deposit you have, you may be able to obtain a better deal elsewhere.

Im going to need a 90% mortgage so Nationwide 2 year fixed @ 5.98% is the one im after. Thought i may as well have something in writing, even though we dont plan to move for a few months.

Squish_21

vixarooni wrote: »

Hello dinah!! ha. Isnt it funny the people you see cropping up.

I have a tricky situation, do i save 10% at about 16,000 or 15% at 24,000? Whilst living at my boyfriends house after we have been living on our own for a year and a half. We can save £16,000 in about 10 months if we stick to our savings plan, and 16 months or so for the £24,000. I'd rather save up to 24 grand, but living with my inlaws scares me into wanting to go for the 10 month route. Im very grateful for them letting us move in with them, but i just know its going to be insanely hard to go back to living with parents as a couple!

I'd prbably go with the 10% but you will get a much better mortgae rate with a 15%. Maybe just start saving as much as you can and see how long you can stick it/them:rotfl:

Dinah93

vixarooni wrote: »

Hello dinah!! ha. Isnt it funny the people you see cropping up.

I have a tricky situation, do i save 10% at about 16,000 or 15% at 24,000? Whilst living at my boyfriends house after we have been living on our own for a year and a half. We can save £16,000 in about 10 months if we stick to our savings plan, and 16 months or so for the £24,000. I'd rather save up to 24 grand, but living with my inlaws scares me into wanting to go for the 10 month route. Im very grateful for them letting us move in with them, but i just know its going to be insanely hard to go back to living with parents as a couple!

Have you had a look at some morgage calculators to see the difference in monthly repayments? We found it would be impossible to afford the house we want at 10%, its a little tight at 15%, we'd have liked to push to 20% but again it was 'do we want to live at home another 6 months and put off the wedding another 6 months' and the answer was we'd rather have things tight!

rictus123

hostie1985 wrote: »

I have just turned 24, I still live with the parents - it took me about a year to pay off my uni debts, had a bit of time spending some money and now its time to knuckle down and save I have been saving for just over a year now!

Hostie

xx

You must earn a fair wedge?

hostie1985

rictus123 wrote: »

You must earn a fair wedge?

Hi Rictus,

My basic wage is quite low, but because of the job I do, I earn commission and flight pay, so could easily clear £2000 per month in the summer season and about £1600 in the winter.

Hostie

xx

Zelie

I found my dream house!

Unfortunately I can't afford it by any stretch of my admittedly wild imagination so I'll just have to keep saving. More for the pot I suppose and at least I know these houses exist now. One might come up for sale at some point when I'm more able to buy one.