The 'We're saving for a deposit' thread

[Deleted User]

Hey ed89 - it sounds like it'll be a healthy sum, and as long as you can afford it, it's realistic.

Whether it's enough will depend on various things (property prices which'll vary depending what and where you want to buy; mortgage lending criterea - income multiples; loan to values etc etc).
But given that you're like me and not intending to buy for a few years yet, there's not really any way of knowing what these things are likley to be until much nearer the time, and not worth worrying about until then too.

hostie1985

Welcome to the thread Domino and ed89!


Hostie

xx

hostie1985

Ed89 - definately sounds to-able to me. As you get older, your money may go up/promotions so you maybe able to save more than the 200 a month. I started saving at 23ish, I finished uni at 21 and had a couple of years just enjoying myself (and sorting out debt as well). I'm now 24 - 25 in 2 months time - and have saved £18,500 so far towards a deposit and £2,500 towards fees etc

Hostie

xx

chelseablue

Wow I havnt been on here in months.

I finally managed to finish saving my deposit and have had an offer accepted on a flat. Its all going through at the moment, fingers crossed!

I managed to save £50,000 in just over 3 years

hostie1985

chelseablue wrote: »

Wow I havnt been on here in months.

I finally managed to finish saving my deposit and have had an offer accepted on a flat. Its all going through at the moment, fingers crossed!

I managed to save £50,000 in just over 3 years

Well done!!! Hope the move goes nice and smoothly for you!

Hostie

xx

shrewsaver

Just like to say welcome to all the new people that have joined the thread and good luck in saving towards your deposits.

MrDT

Well boys and girls, this will probably be my last post on this thread - we finally found the perfect house! 3 beds, detatched, garage, drive, gardens, quiet village, far reaching countryside views, 5 minute drive from work... I can't think of any boxes that weren't ticked. Anyway, we put in our offer, and it was accepted. The perfect house and at a very nice price! This is us right now ---> :j :j :j :j :j

We've put down approximately two thirds of our savings as a deposit, and are keeping the rest on hand as a safety net. Means we qualify for an excellent mortgage but won't lose that fuzzy feeling you get from having zillions and squillions (ok... hundreds and thousands) in the bank. Not the most mse in terms of minimising interest payments, but it's the best fit for us.

It's all very exciting. Lots happening very quickly. It's nerve wracking too though! Not long to go now - hope it keeps going smoothly!

slowlyfading

congratulations MrDT :j :j can't wait until I can post the same msg!

nikki2804

Can I join in?

I'm 22 and currently renting :mad: with my OH and my LO.

I currently have approx £3393 in an egg savings account (3.25%, matures in September)

£2000 in shares which are increasing atm, as soon as they start to fall I will cash them in. (Total profit as my mum took them out for me and was due to give me them for my 21st but they value had fallen)

Need to really start whittling away the cash. My OH's loan is finished in June/July 2011 and my last car payment is August 2011 so I will then have an extra £300 a month. Trying atm to put away £200 p/m then anything extra from mystery shopping etc. I will have a pretty house and be paying my OWN mortgage by the time I'm 25!!!

tara747

Copied from my post on the 'how much can you save?' thread:

Hi all, I've been away for a few weeks but thought I should update my total. I'm now on £37,006 so have saved pretty much £1,000 in June wayhey!!!

I'm well on track to get to perhaps £43,000 by the end of 2010 - my original goal was £40,000 but I have some back pay coming next month and have been super good with money so I am feeling very happy.

Still on the lookout for a house but nothing suitable in our price range...

Good luck everyone! You are all doing so well. :T:T:T