The 'We're saving for a deposit' thread

Jaybo10

Slightly late sig update from me.

Roll on Feb pay day!!

beckythemadcow

Just booked a skiing holiday for 11 days time.

We are estimating it will cost us about 45 days of savings, but since our honeymoon we have only had one budget holiday abroad each year and due to work, we are both in need of a break.

I actually feel proud of myself being able to spend money - I've become so tightfisted! lol!

ccbrowning

Up to £17,000 now with a target of £37,500. However, I don't see the point in saving 15% down so might just go for a much smaller deposit - over 5 years there isn't a huge difference as far as I can see, especially if I'm overpaying.

pop_gun

The bad news is I've lost the job that allowed me to save my current total.
The ok news is that my company has moved me elsewhere, on a much reduce wage.
The good news is that I'm now part of the 20k club.


Savings £20,075

SG27

We have just exchanged contracts!! Get the keys next week.

Keep up the savings everyone it may seem a long way off but it's worth the wait, hard work and sacrifice to finally get there!

Also because we saved so much and was so strict with ourselves we will actually have more money spare after buying than we allowed ourselves when we were saving.

bodmil

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candylucy

Hi All! Just been pointed towards this thread by Domino9 and I'd love to join in if you'll have me!

DH and I are currently saving up for our first house. I've already been saving £750 per month towards this in a normal regular savings account with my bank and currently have £3707 saved.

I also have an 18m ISA which runs until October 2013 which has £8798 in it. This is money from an inheritance and also some money we were lucky enough to get for our wedding gifts. I'd like to save £30,000 minimum for our deposit. We recently opened a joint Save to Buy account with Nationwide.

So here goes - the plan for the rest of the year...

1) Continue to save £750pm in my regular savings account until April when the new ISA allowance starts.

2) In April open a new ISA and transfer all of the money in the regular savings account (approx. £5000) into the ISA as new funds.

3) From April onwards pay £750 a month into the Save to Buy account.

4) Once DH has paid off his car in the summer, he will start to save
£750pm into the Save to Buy account

5) Make as much extra money as possible by eBaying, using Music Magpie, Amazon, car boots etc. This will be kept in a separate account so I can keep track of what extra is coming in.

Good luck everyone - looking forward to cheering you all on! x

superscrimper782

Well double blow for me this weekend. We were saving to buy a new build in a local development. They released the first phase today and the house we want is not part of it With new builds selling at a slow rate it could be another year before it is released!

If that wasn't bad enough we went to see the mortgage advisor on Saturday - no one told us we need at least 20% deposit for a new build! So our goal of 37,500 is now 65,550 so we can cover the stamp duty.

I suppose it works out so that we can still reach for 'the dream house' but being apart for another year or so is not going to be fun, esp since we expected to be in by Christmas.

Good news is, I started a new job with a better salary so we can save a good bit more each month.

jibjab

Hi everyone

I'm currently saving up a deposit to buy - the area I live in is pretty expensive so a decent 2 bed house costs £220,000 - £250,000 so I am looking at a hefty deposit. My other half is not in a position to save much at the moment due to recently taking the leap to being self-employed - something which will make borrowing more tricky but hopefully it will pay off in the future if successful. I'm saving £700 a month at the moment in 3 regular savers and the rest is in ISAs or savings accounts - total is currently just under £25,000. I should have saved nearly £30,000 by September but the £60,000 or so I think I'll need to buy seems a long way off right now! Am trying to stash a little extra away of what I have left every month on top of the regular savings - trying to stay motivated, which is hard when I am so desperate to buy! I'm lucky that I live with parents and only pay a small rent to them, so I don't have too many outgoings.

Hoping to get some tips and motivation from joining here!

[Deleted User]

Hi everyone
Well Friday is D Day for me! I finally get the keys to my 1st home on my own!!
I would just like to thank everyone for the support and motivation to save for the deposit this thread has helped me keep on track towards my deposit goal.
My one piece of advice to anyone moving for the first time - make sure you have money in your deposit fund to furnish your place! I have had money put aside BUT I never realised how all the little bits add up so far for me £3.5K and counting!! :eek:
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