The 'We're saving for a deposit' thread

bodmil

Yeah I'm keeping £14k aside for costs/fees and emergency savings. Which I'm almost uncomfortable with, for many people £14k is a deposit in itself so part of me thinks I should be adding this to the pot!

nat21luv

Finally after a year of lurkdom I can finally contribute

CC upto date, dont owe a penny to anyone, £1k emergency savings, £300 christmas pot, aiming gradually for a £2k car fund(mines ok for now but may need replacing soon so adding £100 a month to this) so I can finally start putting money into my ISA for a deposit

Im a single mum saving on my own too and theres no specific figure im aiming for. Just seperated from my partner (8 months ago) so im just going to save until I meet the right one and then buy. This could be a very long time! Ideally I'd like to put away £400 from income alone, then make £400+ extra each month from various other things. Im not being to strict, allowing £20 a week to take my children out/cubs/clothes ect and if I dont spend it then I'll transfer that over. Iv saved before and became too OCD about it, it really brought me down and I even stopped washing my hair so often just to save a few pennies. I know im in this for the long haul so slow and steady wins the race.

Id be chuffed if I bought a house and put down £75k...maybe I should join the daydreamer fund too?!!

vl2588

When you walk into YOUR OWN house for the first time I imagine it will all be worth it

Simon11

Well I've decided on my dream property in Birmingham

£125k for a 1 bed Flat on the 11th Floor of a new build flat 5minutes walk from work and 5 minutes from train station to see family in London It's a bargin and I can easily put in 50% cash

Only a few properties left in the block, so hopefully I can grab the place I really want

dory22

Blue_Elephant wrote: »

Apologies if this is a daft question, or if it's in the wrong place, but what percentage of a house price is an adequate deposit these days? My brother bought in the days where it was perfectly possible to get 100% mortgages and that wasn't that long ago, my parents bought their house for something mad like £30k and did it off only dad's income.

My friends who have bought houses have had help from Bank of Mum and Dad, have partners who they have bought with so two incomes, or both. My parents don't have that kind of cash, and I don't have a partner.

I'm on a low income, I'm 28 and I'm getting a bit depressed. As of this year I am servicing no debt though And my bank told me that due to the way I have handled my account that they'll give me a good deal on a mortgage when I get one. (I didn't tell them that my less "beautiful" days were with another bank :P)

Thing is I can't get a mortgage without a deposit and it's just looking so far away

im right there with you hun, im 25 and only started working full time in may last year as i was working 3 part time jobs, i work 9-5 in my main boring job but also have a casual job at the bristol hippodrome which is good money when theres work on i was working both front of house and backstage (which is more money and home departmement) iv had to take some time off though as things were getting on top of me, im hoping to go back soon though i can normally work it around my day job for the 2 show days, this is good because i can get between £200 - £250 per week before tax plus extra if i have to do the get in and get outs, dress rehearsals etc.
im also signed upto a local casting agent which i try to get work for on the weekends, my lui days, bank holidays etc youc an earn good money on them and its fun, i did a job on a sunday after they took the fee because it was my first job i ended up £85 better off.
my parents dont have the money to help me out either i live at home and since may iv only manged to save just short of £5000, we have foriegn students stay here for short periods which my folks get £280 (a month i think) per student, my sister takes home £900 extra a month as she as 3 students, they students have to pay £5 a week for internet and as i pay the internet i get that money i also get a bit of extra cash here and there when im not hippo by giving people lifts, saving my change and selling whats crafts i can, its hard i want to move out asap but i cant afford too.
i dont have a partner to help me out either.

gazfocus

We've had most of the money from our ebaying efforts now so are able to increase our deposit and now we only need about £800 for the house we are buying. Can't wait

bodmil

Well done dorry, it sounds like you've made the most of every opportunity available to you and then some! I'm also single, it does make it harder with things like bills and food shopping, but I'm not sure how I could cope living with someone who's not as MSE as me! I struggle enough with my housemate that can't clean up or recycle, but at the moment I'm on the brink of saving £64,000 for the end of this month so I've got about £10 to last me until then. I'm going to raid the copper jar tonight to see if I can raise some extra fuel money! I realise it's pretty pointless as the money is there and as soon as May starts I will start spending as normal but these nice round figures are too tempting!

lou_mango

Hi all

A monthly pay day update from me. Some how (I don’t knowhow!) I managed to put away £1300 this month and I received an additional£312.65 interest on my ISA – pleased as punch!! JSo my grand total now is £18511.15 HOORAY Good news as well for me – had a tiny5% payrise better than nothing I suppose and am supposed to be getting a £500bonus hopefully next month so should be able to put a fair bit away then too.

bodmil

Blimey lou-mango, you have high standards, a 5% pay rise is tiny these days is it? I had to make do with 2% this year but like you, bump it up with interest from savings now and then. Could only dream of a bonus from work though! Well done!

lou_mango

@bodmil if it was 5% for this year alone I'd be over the moon but haven't had a pay rise in nearly 5 years! So it was more than deserved :-)