The 'We're saving for a deposit' thread

lostinrates

Bone Idle, yes, not fair. One of my gripes actually....I wish they'd stop taxing people to hand it back to them.

woody 123, I would put it all in the property, not the kitchen and bathroom. Enjoy owning the home and spending time looking at how you'll do it, maybe even wait for sales on the fittings you like.I think that the ability to change things in the property we buy will be part of the whole thing, and want to do it well, but not necessarily quickly. If you hold it back from the house fund you are going to be paying more on the interest. If you save for it you'll appreciate it more

MrDT

I had just over £100 left over in my current account earlier, and get paid in a couple of days, so that's been swept into my savings account where I can't get my grubby mitts on it. Every little helps!

Looking forward to the 1st, that's when my interest payments appear

The 2nd is pretty good too, that's when my savings standing orders are shifted in. The standing order figures are far bigger sums than the interest payments, but not (as someone else here put it) 'free money', so not quite so satisfying!

I've finished drip feeding my cash ISA now (hit the annual limit), so need to find another decent account. I have a Barclays regular saver that I already pay the maximum monthly amount into, but I need somewhere else for my extra savings. Any suggestions? I think the standard Barclays eSaver account I'm using pays ~4% aer gross (20% tax) which is far from being a best buy. House prices are dropping so inflationary losses don't bother me much, but I may as well try to maximise my return right?

I expect to have a regular £250pm to pay into this new account, though I'd like the flexibility to sweep in my end of month current account balance in too (nice, but not too important, high interest on the £250pm and then middling eSaver interest on the excess 'sweep' money would be better than all of it being in the eSaver) - if anyone has decent (and safe) suggestions let me know Maybe I should venture into the savings board...

before_hollywood

MrDT wrote: »

Don't want to put a downer on your happy mood, but the mortgage terms won't necessarily be the same in a years time...

Prices are definitely heading in the right direction though! Without a doubt I would rather have a small loan at high rates (ok, within reason) than a large loan at low rates

Why would you consider going interest only by the way? I've never understood people that go interest only from day one, I'd see it as more of a last resort thing if you can't meet repayments.

its all figures at the moment mate, i for example was looking at full term fixed rate, where some would say thats a bad idea, obviously the route to go is whole of market mortgage broker etc.

only problem i have now is that the majority of houses i am looking at are in the town i used to work in, and cos i dont work there anymore i dont know where the best areas are

it keeps my mind off things, i'm skint from putting my money in the isa and cant go out much (am on holiday from work and in hospital tomorrow for a kindney ultrasound), my friend is dragging me to the pictures tomorrow to see the new simon pegg film (i'm a massive simon pegg film and got most of his old ones on dvd

MrDT

before_hollywood wrote: »

its all figures at the moment mate, i for example was looking at full term fixed rate, where some would say thats a bad idea, obviously the route to go is whole of market mortgage broker etc.

only problem i have now is that the majority of houses i am looking at are in the town i used to work in, and cos i dont work there anymore i dont know where the best areas are

it keeps my mind off things, i'm skint from putting my money in the isa and cant go out much (am on holiday from work and in hospital tomorrow for a kindney ultrasound), my friend is dragging me to the pictures tomorrow to see the new simon pegg film (i'm a massive simon pegg film and got most of his old ones on dvd

How to lose friends and influence people? Pretty good film I thought - enjoy!

I'm a big Spaced fan. You got Big Train on DVD? It's pretty cheap in hmv at the moment

Kidney ultrasound, sounds ominous. Good luck, hope it's not kidneystones :eek:

I'm guilty of running 'what if' mortgage searches on moneysupermarket myself I'm well aware that a lot can change in next couple of years, but it's still fun

before_hollywood

MrDT wrote: »

How to lose friends and influence people? Pretty good film I thought - enjoy!

I'm a big Spaced fan. You got Big Train on DVD? It's pretty cheap in hmv at the moment

Kidney ultrasound, sounds ominous. Good luck, hope it's not kidneystones :eek:

I'm guilty of running 'what if' mortgage searches on moneysupermarket myself I'm well aware that a lot can change in next couple of years, but it's still fun

my friend has been called in for a training session for work, so no cinema for me

i looooved big train- it was out when i was a teenager, my favourite sketch was jockies being hunted by the artist formelly known as prince
http://uk.youtube.com/watch?v=wcMuTsBFQTE

they think it might be kidneystones or a kidney cyst, if it is then at least it explains the majority of my illnesses for the past 10 years or so

its awful mate i have spent way too long on rightmove

lostinrates

Yippeee, I got some work,:) only today though, a one off to help out somone with whom I used to work occasionally, but it was HUGE fun, (so much so that I forgot the idea was to earn money) and he's asked if I'm up to do more in the future. Its all going in the savings pot! (although with such low interest rates I'm tempted to say the drinks are on me instead and spend it!) I feel really happy about it all.

Also, have transfered full saving minimum from DH's pay cheque to the savings account, feels like w haven't acheived that in a while, and am about to open anothr savings account ...goodness, I wonder what rates will be on offer by the weekend

Nichelette

Can I join too? I graduated in July so I haven't been saving long, but I'm aiming for £20,000 at the moment. I guess what I'm looking for will depend on how things pan out with OH, and it will be a long time before I'll have enough saved to think about that anyway.

Muhren

Hi everyone,

Been reading the thread and thought I'd chip in with my target.

I'm 25 and finished uni 3 years ago and currently on my 2nd proper job training to be an electrical engineer. My salary isn't that great at the moment but I'm living at home so not lining someone elses pocket with rent money.

So far I've managed to save £12,500 and looking to get to £20,000 in 2 years time. In this time as well i should have finished my training so should be on better money (although I'm not sure I actually want to stay in this line of work).

butterfly72

Well, it been a financially busy month for me so far. Managed to move most of my spare cash into fixed rates saving accounts on the day of the interest rate fall. I got the Halifax 3 month 7% account and the Halifax guaranteed saver reward account at 6%. My A&L current account is now also up and running. My 0% purchases on my credit card runs out soon and so my stooze pot cash will need moving. don't think I'll carry on with the stoozing anymore, I need to start thinking about my credit rating as I'll be wanting a mortgage at some point in the not to distant future.

The deposit doesn't seem to be increasing much. Its seems to have ground to a halt and its not going up very fast. We are not going to reach our goal of 100K by the end of this December.

Its going to be an expensive month for me.. . I've had ANOTHER car tyre puncture! This time I need a new tyre and the tread on the drivers side is very low so need a new one there two. Had a quote of £160ish pounds.

On the positive side, have sold a couple of CDs on amazon. In fact I'm going to list a few more items on there today in time for xmas and of course the January sales (was my best month for selling last year ) We've also got some music equipment to sell and OH has won a digital camera in a competition so I'll be able to flog that too!

Got a few xmas pressies sorted too. A patient gave us some posh choccies so I've put my box aside to give to my mum. . I'm also using free gifts I got from Boots to use as pressies. Have 4 of those!

Hows everyone else doing this month? Are you nearing your end of year targets?

Bone_Idle

butterfly72 wrote: »

Hows everyone else doing this month? Are you nearing your end of year targets?

I don't think we're going to hit our target any time soon - can't seem to add more than about £50 a month at the moment! It all adds up, I guess... But I should get a backdated payrise either this month or next, and will be adding that to the pile (well, most of it ) - we always have these protracted pay negotiations which end up with us getting the payrise but 7 or 8 months down the line. Most people seem annoyed by this, but I actually prefer it - if I got a few quid more each month it'd be so simple just to spend it; the lump sum is much easier to save somehow!