The 'We're saving for a deposit' thread

ccbrowning

morganedge wrote: »

Stupid question, but how does one check how house prices compare to the past. Are there sites with that information on them?
I didn't know that house prices are at their lowest in years for example, and i'd like to be aware from now on.

Zoopla or Property Bee can help (not sure if this forum allows posting links - but if you google either you'll find the links at the top.).

SG27

ccbrowning wrote: »

Zoopla or Property Bee can help (not sure if this forum allows posting links - but if you google either you'll find the links at the top.).

Zoopla and property bee are not good for seeing how prices have fallen overall. They are good for individual properties though.

To see how the market has fallen since 2007 you can look at one of the various house price indicies. Nationwide, Halifax and land registry are the main ones. The land registry site is good as you can look at your specific area. Depending on where you are I think prices are between the 2004 and 2006 levels or lower for NI.

SG27

Looks like I could be leaving this thread soon as we have finally had an offer accepted!! It's a lovely cottage with nice garden and affordable for us. No chain so all should be quick and easy (I hope!!) I'm
Just terrified of getting gazumped! It's going to be hard parting with our hard on deposit but it's making the last 7 or so years of saving worth it as its a beautiful house and we will have a relatively small mortgage

[Deleted User]

Congrats SG27, fingers crossed it all goes well.

scumboss

Hi All

I've been closely watching this thread for a while now and thought I would give you an update. Currently have £49,000 saved. My target is £50,000 which I'll get the end of November. Looking at a house worth around £120,000. As I'm buying on my own I thought I would get a decent deposit together. When I do buy my father is going to give me 6k for fees, etc.

misscoupon

Starbrite wrote: »

Woo Hoo I got a job today so can carry on saving from next mth so 30th Nov ish depending what date pay day is

That's great news :T

superscrimper782

I have been reading this thread for a while now and thought it was time to join.
I have been saving for over a year now to buy with my OH, we are looking at properties around the 250k mark. It is so frustrating as we can afford the house but it is taking ages to save the deposit :mad:.
Main reason is that I am the only one saving! My OH has a tiny flat in neg equity and so he is still living there and paying all the bills leaving no spare cash. It is far too small for me to move in and help. I moved back with my parents to save more pennies and he is refusing to do the same.
Thought I would join now as it is coming up to christmas and I need all the motivation and support not to overspend as I can get!

Added to my savings today and so far have 14.5k - still a long way to go

flybynight

in for a penny in for a pound.
have just had a rough work out and we currently have a save to buy savings thingy. looks like we could have £7k by june next year. whihc is a 5% of 120K mortgage and £1k for fess and stuff, whihc is what the save to buy mortgage would let us move with. i presume theres no real point in looking at stuff over £125k coz of stamp duty, so i guess its worth jsut keep upping the deposit.

misscoupon

Pay day sig update - October seemed to drag forever.
It's good to see everyione motivated to save!

mandatory

I'd like to join in! I'm not sure what amount I'm saving, my target is £15,000 and I'm looking to move into a one bedroom apartment (maybe a two but I'm moving on my own and I can live without a study). Hoping for a payrise in February as I am to take my manager's job when he leaves, and that will boost my savings. I currently have £4,000 saved in an ISA - are save to buy savings a good idea? I've been having a look at the Nationwide Save to Buy savings and mortgage, are there any others I should look at (or alternatives?)?