The 'We're saving for a deposit' thread

tara747

Wow, well done Jim!

tara747

sofarbehind wrote: »

Hello :wave:
It's lovely to hear from other single buyers. You can definitely do it and it gets easier as you start to make more progress and get closer to your goal. I found the first 10k the hardest. I remember wondering how people with 25k had managed it.:o


I find Tara really inspiring, other people's success makes you remember you can do it on the down days. We just need to keep going.:T

Aw, thanks for the kind words, sofarbehind You're doing amazingly well too!

Madglover

Looks like santander really missed the boat with the H2B I know they have increased it to 4% but surely everybody who wanted one went with Halifax

I'd love stats to be shown over how many went with each bank

Small update on mine

We both have £1800 in our H2B ISA's and I have another 5 elsewhere.

So we sit with around £8500, plus the £900 of invisible money from the Government.

With the new Lifetime ISA released we are tempted to save more for longer

bobobski

Madglover wrote: »

Looks like santander really missed the boat with the H2B I know they have increased it to 4% but surely everybody who wanted one went with Halifax

I'd love stats to be shown over how many went with each bank

Small update on mine

We both have £1800 in our H2B ISA's and I have another 5 elsewhere.

So we sit with around £8500, plus the £900 of invisible money from the Government.

With the new Lifetime ISA released we are tempted to save more for longer

I just raced Halifax and Santander against each other. I was on hold with Santander for 10 minutes, during which time I'd completed the Halifax application. Halifax it is. If Santander allowed you to apply online, I would have gone with them.

Probably obvious that I disagree with your sentiment that "anyone who was going to get one already has one", but I think Santander are just lucky rather than clever. The HtB ISA is a useless product for me with its low limit of £250,000 so I didn't get one. The LISA will be much more on the money with the higher limit. So today I got the HtB, will fill it up over the next year, then convert it into a LISA.

I know someone who went with Virgin because, and I quote, "Halifax can suck my ****s". Probably the only reason you wouldn't go with Halifax really, until Santander finally woke up.

AcidHouse

Just shy of 20% now towards my deposit savings, with money for purchase fees and furniture etc at 12% of what I need to save. Comforting to see others on here who are going it alone as well

tara747

March update from me:


I saved £1,454 in March - that's £2,557 so far in 2016, and brings my overall total to £97,764.

compbren

March Update

My house deposit total is now at £27,200 :j

Yet again March was another tough month, there just seems to be so many birthdays at the start of the year for me which is costing a fortune. Also upgraded my phone which cost a bit for a new handset.

For April, I have another birthday to sort out, need to take my car in to the garage.

I'm hoping to hit £28k by the end of April.

Nikadi

I've probably come onto this thread before and introduced myself but it's time for my DH and I to save properly for a home!

He finishes uni very soon, has a job lined up for September and we're relocating back to the area we're from originally for cheaper living costs. I won't be working from September/October as I'll be on maternity leave and we're hoping I can use any free time to find a harebrained scheme to earn money once the maternity payments stop as my career will be redundant in the new area I can only work part time as well which hinders things thanks to health issues, but I can probably get a bit more work from my employer until September.

We're currently at £1800 in Husband's H2B ISA, we've not bothered opening mine until today as we didn't have the money to put in until now. I'm aiming for anything about £20k by the end of next year, not sure how we'll do it yet though! Our budget tells us that we'll have just over £11k in our savings which with the Government bonus will bring it just above £14k, so we need to get another £6k from somewhere.

Monkey2801

We're in the same position as you, two HTB ISA's and a goal of £20k by the end of next year!

Have already picked out the New Build area we want to live in and they've said they'll still be releasing houses then!

Good Luck!

Naynay135

Hi long time lurker, first time poster here! I've been reading through this thread and have been SO inspired by everyone's commitments to saving for a house deposit. I have decided it's time I join, been renting for years and I'm fed up with having nothing to show for it and essentially no security as landlord could take back the property at any time, or want to increase the rent by 20% as has just happened

Anyway I currently have a five year savings plan, although this could be shorter if Help to Buy is still available in 3 years or so. I currently earn £35k a year as a trainee solicitor and when I qualify next year, I anticipate my salary increasing to around £55k and then a bit each year after that.

My stumbling blocks are that I will be buying alone (I'm a single parent) and in London which as everyone knows is stupidly expensive. I already have two areas in mind though of where to buy, both in zone 4 and going through extensive regeneration over the next 10 years so there should be plenty of new builds available at the time I am ready (I'm already dead set on a new build). Realistically I'm looking at a budget of £300k with 10% deposit if there is no Help to Buy.

I've opened my Help to Buy ISA with Halifax and now I'm currently waiting for payday on the 18th to fund it and start this journey properly! I've made a chart and explained to my daughter what I'm doing (and why we won't be having so many takeaways/eating out now!), she's going to tick it off each month and show us how close we are at getting to our goal. I'm really excited and looking forward to the future, but I'm also very impatient and just want it now! But it'll be a massive achievement once I've brought and I'll have something to leave my daughter when the time comes.

Thanks for reading :-)