The 'We're saving for a deposit' thread

[Deleted User]

Well, we offered on another property - one offer and it's the max that we can afford to pay for this place. Above asking price, but not holding out much hope. There were two asking price offers when we made our offer. The vendor will make a final decision on Sat!!

Not getting excited by this one, after the last place (no imagining my furniture in the living room).

Fingers crossed though,

D9

ALM2013

I just opened a new fixed rate ISA fir my house savings so transferred £3000 into it today. Hoping to max it out to the full allowance by April though.
Will be aiming to save near £8000 next year, however 2 massive holidays will make this very hard. And I have a credit card to pay off, but it's interest free at the moment!

My girlfriend is very good at saving but I need to catch up with her as we will be putting in the same amount for a house in a couple of years and any other savings we have is our own!

We're looking for about 20-30k between us!

johannalf88

Pay day. Managed to boost the savings a bit.

LibertyBelle

Hey

I like the Lloyds Saving Goal system for my ISA, however not very impressed with the interest rate - 0.9%. Now that it's looking quite healthy - £2293 and when I add our returned rental deposit (if we get it all back!) it should then get to £3000. I've actually replanned and thought I can try and save £10k by Dec 2014

So I’m having a look around and may move my ISA, tho wondering if it’s worth staying at least until the poor interest pays out, as I suppose poor interest is better than no interest.

Interesting worrying about interest rates paying me than the other way around!

J_i_m

Small pickings for me this month as due to personal circumstances I'm effectively on half pay now, as a result (unless my situation changes for the better) I'm unlikely to make my end of year target and I'll be trailing it by a couple of hundred.

As it is.. I can just about scrape £300 to put away and this will go into my regular saver to maximise it's saving plan. My overall balance is now £14'546.91.

I've maxed out my cash ISA for the year though, so at least I'll be maximising the interest I get on that.

Zoology_Dragon

Hi everyone, this is the thread for me We're looking to buy a house in a very expensive city (more's the pity). We've already made an offer on one place but they had a higher offer (allegedly, I'm not entirely convinced the agents aren't bluffing us) and we aren't willing to go any higher so we've walked away.

In addition to my signature we have a potential £30k extra available towards a deposit but we still need to save as much on top of that as we can.

For various reasons we're vey keen to buy sooner rather later, a big reason being that in the city we live in prices are rising enormously (10% in some areas) and we don't want to be priced out of the market.

We do already own a flat that is let out, we don't plan to sell it if we can avoid it.

[Deleted User]

I just thought I'd update you all. It has taken us a little over 8 years (just over 4 1/2 seriously) to save for our deposit, and the offer we made on a lovely little house has been accepted! :j:j:j

Just sorting everything out now...need to get a survey done, full mortgage app is in (had MIP before) etc etc etc

Assuming all goes well, we're still not really sure how long things will take as our seller has yet to have an offer accepted on a place - but we said we'd be flexible and (excitement aside) we are.

So, fingers crossed, I will be leaving you soon (to start a diary on the MFW board!)

Good luck to everyone continuing to save, I hope this shows you that your hard work will pay off in the end (even if it feel like a very long road to travel until you get there).

I realise it's all still very early in the process for us, and there are many things that could and will go wrong, but it's defiantly a big step in the right direction. I will keep you all posted.

BW,

D9

nicedream_2

Domino9 wrote: »

I just thought I'd update you all. It has taken us a little over 8 years (just over 4 1/2 seriously) to save for our deposit, and the offer we made on a lovely little house has been accepted! :j:j:j

Congratulations!!:j Hope it goes smoothly.

beckythemadcow

Domino9 wrote: »

I just thought I'd update you all. It has taken us a little over 8 years (just over 4 1/2 seriously) to save for our deposit, and the offer we made on a lovely little house has been accepted! :j:j:j

No way!!! :j

Me too! We had our offer accepted on Friday, all very quick. We have gone for a small property so the mortgage is in my name to avoid all the trouble with husband's "unacceptable" earnings.

We have gone for an 8 year mortgage term, but plan to be paying off the maximum 10% overpayments during the 2 year fix. By the end of the 2 year fix we should be able to knock another £10-12k off and only have about £20k left on the mortgage. Mortgage free in 4 years I hope (It would be 5 with just the 10% overpayments).

I'm so chuffed for you Domino! You've been great encouragement on this board, fingers crossed see you on the MFW boards soon!

Please keep us informed of progress - I almost want to race you to completion!

:j

[Deleted User]

beckythemadcow wrote: »

No way!!! :j

Please keep us informed of progress - I almost want to race you to completion!

:j

Congratulations!

I think that would be a race you would win! We are at the bottom of a chain, and still waiting for (even a ballpark) figure of when everyone else will be ready to move!