The 'We're saving for a deposit' thread

redbull5

Sorted out a few Standing orders and some account, should be able to save more. Have a look at my sig i updated it. My target for Xmas is £7500. Keep saving guys.

Riq

I know I dip in and out of this thread but I've finally bitten the bullet and will be spending my deposit on a house and not an Audi RS6 which is what I really want :rotfl:

So now I'll have to join the "We're saving for home improvemets thread" if there is such a thing.

Svenena

Well done Riq! :beer: How much did you manage to save?

tara747

quintwins wrote: »

i don't work at the mo, with 3 kids under 5 it wouldn't pay me to work, my twins start proper school in sep tho, as soon as it's an option i will be getting a job

no mobile homes aren't too bad in the winter really, also we would be installing a multifuel stove and since my hubbys a printer we could burn paper brickettes for free, then we'd be moving the stove with us to the new house aswell

no matter what we do we will def be building our own house it just depends on how we get there

i know 4 years is along time but i also think going into it knowing it will be 4-5 years will help because rather than feeling like were stuck there forever we'd see it as getting closer to the finish line, aslong as we go into it with our eyes open

Good for you. Nothing like a forward plan!!! :T

Riq wrote: »

I know I dip in and out of this thread but I've finally bitten the bullet and will be spending my deposit on a house and not an Audi RS6 which is what I really want :rotfl:

So now I'll have to join the "We're saving for home improvemets thread" if there is such a thing.

Well done Riq!!! :j I'm chuffed for you. How much did you save?

J_i_m

Nice thread, bit too long to read through it all though!

I've put a mortgage saving plan together, which is set to start from September 2011. The plan is of flexible length (mainly due to income uncertainty) but I hope between 2-3 years.

In August I'll be moving back in with the parents, and "should" be able to immediately start saving £500 a month. 2-3 years of that is £12-18k, I guess a sensible target amount for a deposit is £20K.

Over stretching my means on paper then, however a couple of debts I have will have some bearing on this, for example car finance that is currently costing me £120 a month will be settled by next April/May, so that immediately ups my monthly saving to £620. In addition a favourable conclusion to a PPI dispute "may" help in clearing a loan earlier than it would have otherwise been probable for me, that would free up another £95 a month to be pushed towards the mortgage plan, so £715 a month would be possible after that.

Other than that it depends on overtime at work, which is supposed to be less available now, and also how much my share of the house hold bills will be at home.

To sum up though a target of £20k put down as deposit on a property of £130k.

vl2588

Riq wrote: »

I know I dip in and out of this thread but I've finally bitten the bullet and will be spending my deposit on a house and not an Audi RS6 which is what I really want :rotfl:

So now I'll have to join the "We're saving for home improvemets thread" if there is such a thing.

Haha I have already 'decided' to spend my deposit on a car with RS4 on the short list...

Beckyy

Domino9 wrote: »

And as a result think I'll need a lower deposit than origionally thought. So I've lowerd my target

If you can save more, do. A lower deposit will just mean a higher mortgage. You're better off saving as much as you really can, and then enjoying the extra money that you're not pouring into a mortgage later down the line.

vl2588

Added 0.1% due to interest :T

Riq

Managed to save £27k.

It's going to make me sick seeing it all go, it's taken years to save that lot!!

Thanks for the congratulations.

quintwins

wow £27k so an impressive figure, handing it over might make you feel sick, but you'll feel brilliant when you move into your new house, congratulations you've done very well

no more adds here, won't be til the 9th until everythings paid my banks looking pretty healthy so far fingers crossed it stays that way

keep saving those pennies guys it will be worth it in the end