The 'We're saving for a deposit' thread

J_i_m

Well done eviekins, your deposit is as much as my entire budget.... Would you care to swap

sunshine81

Wow some fab saving going on here! Going to join in and subscribe. x

tara747

sunshine81 wrote: »

Wow some fab saving going on here! Going to join in and subscribe. x

Hello and welcome, sunshine81! :A

eviekins wrote: »

Probably my last update on this thread now and I've also finally surpassed the 100k mark!
It's taken many years of 'work hard - save hard', but I will be picking up the keys to my very own home in the next few weeks!!
Best of luck to everyone with saving their deposits, keep up all the good work!
Catch up with you again soon on the mortgage free wannabe board!
Evie x

Wow, well done eviekins!!!! How long has that taken you? I hope to reach the magic £100k in the next few months.

TheRed

Think it's about time I joined in with this thread.

Deposit fund currently just under 26k, aiming for 30k before I start looking to talk to brokers really. I'm self employed so hoping a bigger deposit will help ease the path to a mortgage.

Hoping to reach my target by April. Need a new van for work though

smile88egc

TheRed wrote: »

Think it's about time I joined in with this thread.
Hoping to reach my target by April. Need a new van for work though

Hi there, I'm looking to reach my target about the same time as you. Its tricky this time of year with extra expenses and Christmas, but I'm hoping to secure a mortgage before interest rates rise!
Have you thought about getting a help to buy ISA to help you reach your target? I haven't heard much about the details since the idea was first released though...

alja

Hello I think I may join you on this. I already have a property (in the process of trying to secure the final 25% so I own 100%). Once that's sorted my next goal is to save up money for the next home.


Looking at what I'd like to buy next home-wise, I'd need about £90k, so as silly as it is, that's my goal. I know it's very very unlikely that I'd reach it any time soon. But it'll drive me to get somewhere at least! Haha

AcidHouse

Hi everyone!
It's that golden time of the month when I get paid so after this months pay I've added an extra £570 to the main deposit pot, and £200 to the pots for purchase fees, furniture/contents and the emergency funds. Total savings now are just over £2830.

Will be great to pass the £3k mark before the year is out!

If anyone is struggling with putting money away for a deposit I'd recommend splitting your savings out as above like I've done instead of chucking it all into a deposit pot. It just makes you more aware of what you'll really need when you're ready to buy :eek:

This web page was my starting point for establishing buying costs http://www.which.co.uk/money/mortgages-and-property/guides/buying-a-house/the-cost-of-buying-a-house/

Happy saving all

Swash

AcidHouse wrote: »

Hi everyone!
It's that golden time of the month when I get paid so after this months pay I've added an extra £570 to the main deposit pot, and £200 to the pots for purchase fees, furniture/contents and the emergency funds. Total savings now are just over £2830.

Will be great to pass the £3k mark before the year is out!

If anyone is struggling with putting money away for a deposit I'd recommend splitting your savings out as above like I've done instead of chucking it all into a deposit pot. It just makes you more aware of what you'll really need when you're ready to buy :eek:

This web page was my starting point for establishing buying costs http://www.which.co.uk/money/mortgages-and-property/guides/buying-a-house/the-cost-of-buying-a-house/

Happy saving all

Thanks for the link

J_i_m

I've started viewing places now, but haven't bought yet.

So I'm still saving... Due to crazy short staffing at work I've raked in a bit extra on the ol pay packet... Enough to be both cheeky on the overdraft and more generous on the savings.

So I expect to have put away £825 + whatever interest earned on the ISA this month.

There's not much on the market at the moment or at least anything with a sensible asking price. So it wouldn't surprise me if I'm still saving come spring time.

In that case I'd expect to have 30k put away by April. Which would either be useful for an extra 5k on the deposit or some funds for kitchen/bathroom/white goods improvements.

wannaberich84

Hello to all, I've been stalking this thread for sooooo long, I think its time I posted something.

so far we have saved £43,365.09. We moved area a year ago so we could get more for our money when the time is right, I feel this time will never come!!!! We are looking around the £162,500 mark and putting down £32,500, so that's 20% deposit. We are budgeting £5,000 for all our fees and leaving us with around £5,00 left as we have rented for years and have no white goods and have a little left in the pot for a just in case moment.

If you have added all this up you will see we have hit the target but I'm pretty gutted to say my car has broken and next week I need to get a new one so that's 5k ish gone. We have multi car insurance which also runs out the end of next month and with a newer car it will be more expensive then first thought. :mad: I could really scream. Once I have a new car and paid our insurance we shall see where we are and how much we need to save again. We are thinking we will be ready by February.