The 'We're saving for a deposit' thread

tara747

AcidHouse wrote: »

I've now saved £6,500 for the deposit (25% of my target) and I have enough set aside for my purchase fees.

Going forward from here I will split my monthly savings into the deposit pot and furniture/contents pot.

Oh and if you have the HTB ISA - don't forget to tally up your savings including the bonus, it keeps you motivated!!

Well done Tara BTW.... Amazing, you deserve the house of your dreams after all the efforts to reach £100k :T

Thanks very much, AcidHouse! You're doing well too, I like the idea of different pots for each part of the budget

Swash

Hi all,
Not posted for a long time. I now have £17000 for my deposit. Still a little way to go but I'm currently looking at houses, hoping to buy this year.

compbren

August Update: £30,830, so close to £31k, actually I've got loads of loose change to cash up so I've probably already hit that target!

Still going strong. August will be a busy month, holidays, days out etc which all cost money. But you only get one life, right!

Well done everyone else!

not_so_witty

Can I join? I've found the houses that I want and they normally go for between £90 - £110k and this month we've hit just over £6500 savings which means we have our 5% plus fees. :j
We saw a mortgage advisor on Saturday and she didn't think we'd have any problems with getting a 95% mortgage, although didn't give us a decision in principle as I'm very set on which houses we want, none of which are on sale yet. She did say she would be able to get one within 15 minutes or so once we need one though. Is that normal?
We're still saving hard, the ideal situation would be for us to hit the 10% just as a house on the lower end of the spectrum comes on sale. But it feels a long way from hanging onto the hope that we'd win the lotto!

I'm amazed at all of you who are able to put away so much each month and who save £100k! Well done you!

smile88egc

Hi not-so, welcome to the thread. I'm interested in your situation and your waiting for a house that's not even for sale yet? What kind of house is it that you're after specifically and how do you know one will come up for sale soon? Intrigued!
Congratulations on your savings so far. I'd definitely recommend trying for 10% if you can get there, better interest rates and much less risky. Keep going!

not_so_witty

Thanks Smile, there are four streets that I want to be on. They are Victorian and built as a block, so all of the same layout and all on pedestrianised streets. There were three for sale at around Easter time, so I'm hoping there will be more that come up in the not too distant future. Although the ones that did come up went within a week of being advertised which is why we're trying to get all our 't's dotted beforehand! I didn't think it was strange to have honed in on a specific area, but this is all new to me!
We're renting at the moment so in a good position to be able to wait.

tara747

August payday update!


I only saved £290 in August (holiday spend took a chunk out of my money this month). That's £6,446 so far in 2016, and £101,656 overall.


Hoping for a better performance in the last four months of the year

smile88egc

Managed about £550 this month but losing the will a little, the interest rate on my student loan's gone up whilst base rate's gone down. Such a difficult time to save!

Am going to see if there is any news for first time buyers in the Autumn statement and then start looking at houses in earnest I think. Not sure I can save this hard for much longer!

Gibberish94

Hi all, I'm new to this thread. Little bit about myself - I graduated from uni in July 2015 and have since been working in the job I wanted as a trainee accountant. I have started from scratch with savings as obviously university was very expensive and then upon graduation I bought a car and moved into a flat with my boyfriend so lots of furniture purchases and bills etc!
We're saving for a deposit slowly but surely, we're currently renting in the south east and looking to buy in this area also and so house prices are crazy!
I think we're going to be aiming to save around 50k to cover deposit and all others fees + extra furniture needed!

Savings so far:
My HTB ISA: £1150
OH HTB ISA: £2800
Total so far: £3950 / 50,000 (7.9% of the way there :P)

Long way to go, but its a start!

Swash

£19000 now saved. Nearly there!