The 'We're saving for a deposit' thread

KScarlet

Hello Tara thanks for the welcome!
Wow your savings total is amazing!!

I'm hoping over next few months me and the hubby will save 200 each into H2B, it's our max we can save really as we just have such high outgoings/ low income. Desperately need to buy a house!

tara747

KScarlet wrote: »

Hello Tara thanks for the welcome!
Wow your savings total is amazing!!

I'm hoping over next few months me and the hubby will save 200 each into H2B, it's our max we can save really as we just have such high outgoings/ low income. Desperately need to buy a house!

Well done for saving £200pm - so many people save nothing, or (worse) live on overdrafts and credit cards each month. You will get there!


The interest rates on HTB ISAs are good, and the 25% bonus is excellent. I save £200pm in mine as well.


Whereabouts are you?

clairesilverspar

Hi,

Do you mind if I join?
We started saving last spring with a view to buying our own place. We're both pretty tired of private landlords and not being able to make a rented house feel like ours.
I could probably save more than I do currently, but our savings got put on the back burner since we're also paying for our wedding in March. It's going to be close, but we should be ok.

So far, we both have H2B ISAs, and I have a Regular Savings Account.
We both but in the £200 maximum into our ISAs on payday so we don't miss the money, so now I have £2.9k in there, and my regular saver is at £1.8k with a small addition each month - to be hiked back up after the wedding.

In April my regular saver will close, giving me a 5% interest rate. I'll need to decide where I'll be saving that from April.

I have a sweep set up to move any leftover money each month into a basic savings account with a negligible interest, but instant access. This sweep hasn't gone ahead the past few months, with the additional expenditure, but afterwards I expect it to pick up again.

So far I have £4700, and OH is at around £3000. We're hoping for a 10% deposit, plus a few thousand available for fees etc. We're looking at houses around here between £90k and £100k.

KScarlet

tara747 wrote: »

Well done for saving £200pm - so many people save nothing, or (worse) live on overdrafts and credit cards each month. You will get there!


The interest rates on HTB ISAs are good, and the 25% bonus is excellent. I save £200pm in mine as well.


Whereabouts are you?

Thankyou we live in Wales, we are both English so happy to live in either Wales/ England but trying to find something close to work/ schools etc.

It's so frustrating our rent is about doubt what a mortgage would be saving 400 pm is a start but I do wish we could save more. Hopefully we can find a cheaper rental to enable us to save.

Hello Clairesilverspar

tara747

February update!


I had a low spend month and have been paid interest on a regular saver, so managed to save £2,053. So far in 2017 I've saved £2,246 and my new overall total is £111,368.


:beer:

AcidHouse

Right peeps not been here for a while - finally got the savings over £11,000. It was a big relief to get over £10k, it feels like a milestone and it's much easier to save now than it was in the first year. Always focussed on the long term goal!! I've bought a few things for the property already and that's really helped spur me on to save even more, as I know exactly what kind of place I want now

tara747

March payday update!


I saved £1,058 in March - that's £3,304 so far in 2017 and £112,426 overall.



:beer:

CocoD

Wow I haven't been on here in ages and I am so impressed at everyone's progress since then with savings and house purchases!! Particular well done to tara747 and J i m because yours are names/stories that I remember from when I was saving for my home. Mega amazed at the amount tara747 x

tara747

April payday update!


I saved £1,141 in April - that's £4,445 so far in 2017 and £113,567 overall. Sometimes I imagine how much higher that figure would be if interest rates hadn't been at rock bottom for the last 8 years, but I feel proud that I'm still able to save at a good rate.



:beer: :beer:

tara747

CocoD wrote: »

Wow I haven't been on here in ages and I am so impressed at everyone's progress since then with savings and house purchases!! Particular well done to tara747 and J i m because yours are names/stories that I remember from when I was saving for my home. Mega amazed at the amount tara747 x

Awww, thank you so much CocoD, that really means a lot to me. And congrats to you, two years since you bought your own place How are you enjoying it?