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The 'We're saving for a deposit' thread

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  • compbren
    compbren Posts: 140 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 31 May 2016 at 7:50PM
    May Update

    Current total £28,920.
    House Deposit: £28,000 and still saving!
  • FlacosFloozie
    FlacosFloozie Posts: 830 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Savings now £13,194.46 hopefully up to 13.5k this month.
    MFW 2024 £27500/7500 Mortgage £129,500 Jan 22 Final payment June 38 Now £68489.08 FP May 36 Emergency Fund £20,000 100% Added to ISA 24 £8,060 Save 12k in 24 #31 £20,034.76/20,000 Debt Free 31.07.14
  • FlacosFloozie
    FlacosFloozie Posts: 830 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Hi guys, savings now stand at just over 14k, but 17.5 if I add Mr Fs so we've an appointment with a mortgage broker soon :)
    MFW 2024 £27500/7500 Mortgage £129,500 Jan 22 Final payment June 38 Now £68489.08 FP May 36 Emergency Fund £20,000 100% Added to ISA 24 £8,060 Save 12k in 24 #31 £20,034.76/20,000 Debt Free 31.07.14
  • Sanne
    Sanne Posts: 523 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    edited 3 July 2016 at 12:07AM
    Only just seen this thread! Have been saving for a while now and have just reached £40k. We literally had just spoken to a mortgage advisor and the next day the country decided to vote for Brexit so not quite sure what to do at the moment.

    The problem we have is that my husband is older than me (45 next year) so mortgage term is becoming an issue; we'd have to buy before May to get 30 years which would be what we are looking for as house prices are horrendous down here. (Not worried about paying the mortgage beyond his retirement age as I'm earning more than twice as much as him already and still have potential to increase this further).

    On the other hand I'm an EU national so lender's rules might change - who knows.

    Bottom line I guess - we will continue to save for a couple more months and see what the market is like at the end of this year when I should have somewhere between £48 and £49k. (Target was £50k but going for British citizenship ASAP which will cost me £1.5k!)
  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
    Sanne wrote: »
    Only just seen this thread! Have been saving for a while now and have just reached £40k. We literally had just spoken to a mortgage advisor and the next day the country decided to vote for Brexit so not quite sure what to do at the moment.

    The problem we have is that my husband is older than me (45 next year) so mortgage term is becoming an issue; we'd have to buy before May to get 30 years which would be what we are looking for as house prices are horrendous down here. (Not worried about paying the mortgage behind his retirement age as I'm earning more than twice as much as him already and still have potential to increase this further).

    On the other hand I'm an EU national so lender's rules might change - who knows.

    Bottom line I guess - we will continue to save for a couple more months and see what the market is like at the end of this year when I should have somewhere between £48 and £49k. (Target was £50k but going for British citizenship ASAP which will cost me £1.5k!)

    haha he has done well to land you then. why did you not aim for someone with higher income.. i would never get with a girl who earn't more than me
  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
    OK to share my effort, i am aiming for 110k deposit due to buying in London. I currently have 42k and will get 60k from parents. So still about 15k short taking into account stamp duty/fees etc.

    I waste a lot of money on things like food etc :( But am otherwise good.
  • lol_omg_wtf
    lol_omg_wtf Posts: 44 Forumite
    House saving stand at £51,400 + £2600 HTB so a bonus of £650.
    total is £54,650.
    I have worked like mad to this point. Its nice to take my foot off the gas a bit now.

    Was looking for houses like mad before the dreaded uncertainty of brexit!
    Now it's put a bit of a brake on things as i would rather sit on my hands for a bit and see what happens.
    Im not hoping for a crash. But if prices drop 10% then i would kick myself for not waiting.
    :www: Saving for first house - £67,000/£50K :www: :cool: smashed it!
    :starmod: Save 12k in 2016 - No#129 - £0/£6000 :starmod: too greedy with house pot...
  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
    lol_omg_!!!!!! wrote: »
    House saving stand at £51,400 + £2600 HTB so a bonus of £650.
    total is £54,650.
    I have worked like mad to this point. Its nice to take my foot off the gas a bit now.

    Was looking for houses like mad before the dreaded uncertainty of brexit!
    Now it's put a bit of a brake on things as i would rather sit on my hands for a bit and see what happens.
    Im not hoping for a crash. But if prices drop 10% then i would kick myself for not waiting.

    For us FTB's it is a blessing in disguise, prices won't crash but expected to come down significantly over time. My partner is an EA and just the last week has had so many dramas of people pulling out, offering less, chains breaking etc.

    I would factor this is when making an offers
  • Sanne
    Sanne Posts: 523 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    cashbackproblems wrote: »
    haha he has done well to land you then. why did you not aim for someone with higher income.. i would never get with a girl who earn't more than me

    Love and marriage is about a bit more than just money ;-)
  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
    Sanne wrote: »
    Love and marriage is about a bit more than just money ;-)

    hopefully you don't get divorced then it will be about 50-50… :eek: whats yours is his etc.
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