The 'We're saving for a deposit' thread

RobMoz

Brilliant thread Roxie!

*SO* nice that everyone can focus together on saving.

I'm aiming to have £20k by the end of the year. Essentially for a house deposit depending on where the market's at. Have moved back in with my parents (age 28) in order to help achieve this, tho I work short contracts in the media and work can be sporadic.

Current set up:

£5,100 in ISA
£600 in savings account waiting to transfer over at beginning of next month.

Good luck to all.

skap7309

skap7309 wrote: »

Count me in.......i'll be member number 2.

See sig below.

OK here is my portfolio as they say;

Currently 25 and looking as a FTB to get hold of a 2 bed house on my own (need 2nd bedroom as an office). Here is the breakdown of my savings;

£9242 in Halifax ISA
£2000 in Yorkshire BS high interest regular saver
£2500 in Halifax high interest regular saver
£7500 in Saisburys savings account
£2500 in Halifax high interest current account

So around £24000 and aiming to save £2000 per month until Dec 2009 - i spent alot of time working this out and making sure it was feasible so by then i should have £65000 saved plus a little left over for fees etc.

izzybusy23

My name is Eve, and currently privately renting with my DH and 3 year old daughter.

Don't have much saved in the way of a deposit yet, but next year will be able to put much more away as daughter starts proper school so will save £400 a month on nursery fee's as from next September. Am hoping to have £30k saved up by end of 2011.

RoxieW

Hi all - nice to see lots of people on board!

I'm hoping that this thread will motivate me to think twice before blowing the budget (again) and forfeiting a month or more house savings. have already blown it twice this year - once on the said 'refurb' and another on a trip to prague for hubbys birthday in feb. Glad we went but its time to knuckle down now!

Hi Eve - I know what you mean re the nursery fee's. With 2 children it was financial bad sense for me to work - which is a bit annoying. Good luck with your target!

The savings pots on here make really impressive reading!

Does anyone else worry about waiting thou - like me?? Guess its one of those crystal ball scenarios - it would be nice to have one!

Guy_Montag

Number 6 here:

Smile Savings 20k
Standard Life Bank c. 20k
ISAs (just moved to IceSave) 12k
Various others c. 15k

Regular Saver: 100pcm

At the end of each year I have at least 3k in my current account which goes into my ISA allowance, meaning I really save £350 pcm.

Ok, moving on - can you nag me into moving my money into better performing accounts?

seraphina

We're using a combination of Isas and regular saving accounts - we could max out our ISA allowance at the beginning of every tax year but we choose to drip feed our ISAs so we can take advantage of some of the regular savings accounts for when the tax free allowance runs out.

We don't have kids yet but we want to be able to afford both of us to go part time for a few years when we do have kids - it's a great thought to motivate us with

They say that for every pound you put into a deposit, it saves you two pounds over the life of the mortgage in interest!

oldMcDonald

Guy_M, * clears throat and puts on best nagging voice!* GET THAT MONEY INTO BETTER PERFORMING ACCOUNTS, NOW!

pavlovs_dog

count me in two!

OH and I are living with his parents whilst we save up a good deposit on a house. im due to graduate and qualify in around 18 months, so its a wee while before we can think about moving just yet.

ideally we'd like to have around £30k at our disposal, and would like to buy an old house that needs work doing. our hope is to get a lot more house for our buck this way. we want to buy a family home that we can grow into and do up over time as we can afford it, rather than a poky starter flat, only to then have to move a year or two later when we start a family.

taking both of our savings iinto account, our deposit current stands at around the £20k mark, so we're on target to hit circa £30k by the time we are in a position to move.

oldMcDonald

OK, savings so far:

DH ISA: £9,300
Me ISA: £9,300
Premium Bonds: £1K (I know, I know, but I don't do the lottery and I get my stake back with PBs!)
NS&I: £12K
Halifax: £3,400

Total saved so far= £35,000

Like Guy_M, I really do need to sort out some kind of better savings accounts!

RoxieW

Hi oldmcdonald - I also have premium bonds for the same reason (although far less than you!) - although reading all martin says about them I'm thinking of cashing them in.