The 'We're saving for a deposit' thread

VickyA_2

I've just paid £25.44 into my ISA from TopCashBack! Ok, so it's not much but it all adds up.

Sadly, I've also had to book my car in for a major service and it also needs new front brake discs and pads. Luckily, I've budgetted for it but I thought that I may get away with putting even more money in the pot. That's not to be this month.

redrabbit29

Vicky - I know how you feel.

I serviced my car this month and MOT'd it. It cost £260. It was a full service after 3 years, plus it's 10 years old. Still feel ripped off though!

Ivana_B_Rich

:wave: I've been mostly lurking since my brief apperance on page two

I've been saving plenty but not posting much. Unfortunately my deposit is in an ISA with Icesave and the rest is (was) with KE. :whistle:

It's been a bit of shock but it has made me realise that I'm not saving as much each month as I actually could.

So, new accounts opened (for when the money starts to come back) and from now on more effort is going in to achieving the biggest deposit I can :j

butterfly72

Well, doing so so with the savings this month.

Good bits:Have sold a few amazon items, so a few pounds there. I've opening the A&L current account which has a decent rate and also a couple of fixed rate savings accounts. This locks some of my cash away for a year tho, so no house buying til the accounts mature! Also, have worked an extra sunday so a few quid more there. I got a free £5 m&S voucher from direct line thanks to a link on the freebies board.

Bad bits: OH needed some new glasses and they cost a few hundred quid and the rest. Plus I needed (ok - wanted!) some new jeans and ended up with diesel ones at 100 quid! I did search all day and they were the nicest and fitted the best. Just seen Twiggys frock exchange on TV and fallen in love with the burburry trench coat...can I resist!? Must keep in my mind... house and horse (desperate to get another horse)... house and horse... house and horse!!!!!:rotfl:

neverdespairgirl

butterfly72 wrote: »

Just seen Twiggys frock exchange on TV and fallen in love with the burburry trench coat...can I resist!?

You can indeed resist. Think "chav-dom" not "yummy"

ZoeGirl_3

Feel a bit more safe saving again now as our government has guaranteed all deposits, with no maximum ammount, so hopefully nothing scary will happen here.
Otherwise my dad told me to stick it in a sack lol and bury it :eek:

Anyway, am getting so close to my goal, under 5k to go now, in fact it is almost under 4k as of next pay lol :rolleyes: and that is pretty exciting. Trouble is banks now require at least 20% deposit lol :mad: so guess it is lucky I had counted on saving up next year as well.

And you have to show a good savings record, you can't have been gifted the deposit, so that is lucky lol, I make a payment per day in one of the DFW challenges (never been DFW as never been in debt, but love the board challenges) so the bank will see I am faily obsessed lol

VickyA_2

ZoeGirl wrote: »

Anyway, am getting so close to my goal, under 5k to go now, in fact it is almost under 4k as of next pay lol :rolleyes: and that is pretty exciting. Trouble is banks now require at least 20% deposit lol :mad: so guess it is lucky I had counted on saving up next year as well.

Wow! That's brilliant! :j :j :j

The majority of mortgage rates here seem to require at least a 20% deposit too, with even better rates to be had for a 25% deposit....

redrabbit29

Has anyone thought about what to do with their deposit when buying a house?

E.g. if you have £20'000 saved up. Do you stick every penny towards the house and fees.

Just thinking about if the house needs something done, e.g. a new carpet, some new furniture, a new bed, or a repair, etc...

I could afford to save for these things now, but not so sure if i had a mortgage.

Riq

I am just saving as much as possible so I at least have the option at the time.

I currently live with my parents still so I have no furniture or anything.

I do have a kitchen clock though, expensive one too. I was young.

MrDT

I'd like to save up a 25% deposit (at the moment that's about 20k). On top of that I figure I'll need up to 2k to cover mortgage and solicitors fees. I'd also like the security of having three to six months worth of expenses in an easy access account incase it's needed in an emergency (I mean real emergencies - lost job and need to pay mortgage and feed myself kind of emergencies) call it 3k for basic survival for a short while.

So, ideeally I'll save up a 20k deposit, 2k for fees, and 3k for my emergency fund.

I have the basic furniture I need at my rental that I'll take with me. I expect to buy somewhere that needs modernising a bit, but I don't need nice carpets etc from the start, I can live with horrible flowery carpets etc while I save up for a new carpet. I quite like the idea of transforming a place whilst living in it over time actually I expect my saving power to take a hit when I buy, but I should still manage to save a couple of hundred pounds a month to put towards modernising/decorating. It's not all that long ago I was living in shared student accomodation, I have no problem living with crappy decor and cheap furniture etc for a while

I'm also willing to bet that my parents will 'need' a new sofa etc the same time I buy and I'd be 'saving them a trip to the dump' by taking their current suite, same goes for grandparents etc - doesn't get much cheaper than free! My family can be generous without being out and out 'let us buy you shiny new things' which I'd have difficulty accepting