The 'We're saving for a deposit' thread

GoingOn30

How's everyone's savings going this month? I actually find it easier to save when the weather is good since I can keep myself amused sitting outside reading a book rather than spending money, I also seem to eat less in general!
And less on transport too, lots of walking.
Have to remember to take drinks out with me though, my water bottle is my friend!
Anybody getting close to their house deposit goal?

lildoonbuggy

Hi GoingOn30! I started using Yolt this month and it is going so well being able to see a live update on spend against budgets. I have set myself a budget of £420 a month which includes all food, shopping, incidentals and holidays but not including bills, commuting and rent. Going well so far and have £200 left to last me through to pay day - happy days! That said, off to Nice for a long weekend next week so hopefully the food and travel allowance doesn't blow out! We're probably a year off having our deposit and stamp duty together, but that's not long in house buying terms right? :-)

AlisonResearch

Hope you don't mind me posting in this thread too, but if you're looking to buy in the near future maybe you could help me with my research?

I'm looking to speak with people in West Yorkshire, West Midlands or Bristol/Bath/North Somerset/Gloucester area who are looking to buy or have recently bought, say in the last two years. Want to talk about how, what, where and when you bought and the decisions made and if shared ownership housing could help. It won't take long.

Thank you. Looking forward to hearing from you! :T

[I have permission to post on this site.]

List_Maker

Just checked my LISA and the gov bonus has arrived!! Amazing to see it there, and given a boost to the deposit!

diggingdude

Well April turned into a great month saving's wise compared to what I was expecting considering I booked a holiday for November. Had a 2% pay rise and went up an increment which I wasn't expecting having been off for the best part of 6 months. Had an unexpected windfall of £1500 too which I am kind of saving but wont count and instead leaving in my current account as i like to have a decent balance there and this will set me up to pre-accident reserves of about £3000. It's in a club Lloyds account so any interest earned on that goes into the beer fund

Also, my LISA bonus was paid which has given me a big Brucey bonus. By next month I will have this years LISA money saved and be onto the next years savings.

Last month's total £10225. Savings this month £2893.78 of which £900 was new money and the rest an LISA bonus

Current Savings

Club Lloyds Regular 3% - £2725
Lloyds Regular 2.5% - £250 (opened this month)
Halifax Regular 2.5% - £250 (opened this month)
LISA Account 0.75% - £9,896.22 (Got to love free money)

Target - £20000 April 2019 Total so far £13121.22

On a side note, I am totally getting into cashback/free things. I remembered I have cinema tickets with Club Lloyds so seeing Avengers was free as will the next few movies. I am also up to £51 pending cashback on Topcashback since March for doing things I would normally do anyway

MrsLalore

Hi all,
I would love to join.
Me and my husband are saving for a 20% deposit of property prices up to £350k. Hoping to be saved by the end of the year to start looking early 2019.
Our current savings are:
Bank Account Amount
Mrs Current £2,500.00
Mr Current £2,500.00
Mr ISA £18,646.25
Joint Savings £13,311.33
Mrs LISA £5,350.00
Mr LISA £5,350.00
Total £47,657.58
Aim £70,000.00
Remaining £22,342.42

Luckily we have almost no outgoings. Living with in laws and don't pay any rent or bills. We have no debt or car loans so basically all our wages go on savings.

Will update as much as possible to keep myself on track.

Mrs L

DeeDee87

Newbie Alert! long time lurking in the background


So me and the BF are both first time buyers in the south east, we have been saving for the past couple of years, first in a Help to buy and now the LISA .


We opened the LISA as soon as they came out and were able to transfer our existing savings from the H2B in March this year.
Yay free bonus money!


Savings so far are as follows...
Joint account: £6302.00
Gifted sum: (from BF parents) £5000.00
His LISA (inc £1900 for transfer 16/17 and tax year 17/18 contributions): £15755.44
My LISA (inc £1700 for transfer 16/17 and tax year 17/18 contributions): £14759.58


Total saved: £41,817.02


Deposit total (tot -£7,500.00 for fees and spare) = £34,317.02

(Still have £2000.00 tot bonus to come from this tax years LISA contributions due some time this month or early June)


We have been in contact with our mortgage broker and he's given us the go ahead to start looking!


We are still saving a min of £1200 a month so hopefully by the time we find somewhere we will have a better deposit too

diggingdude

DeeDee87 wrote: »

Newbie Alert! long time lurking in the background


So me and the BF are both first time buyers in the south east, we have been saving for the past couple of years, first in a Help to buy and now the LISA .


We opened the LISA as soon as they came out and were able to transfer our existing savings from the H2B in March this year.
Yay free bonus money!


Savings so far are as follows...
Joint account: £6302.00
Gifted sum: (from BF parents) £5000.00
His LISA (inc £1900 for transfer 16/17 and tax year 17/18 contributions): £15755.44
My LISA (inc £1700 for transfer 16/17 and tax year 17/18 contributions): £14759.58


Total saved: £41,817.02


Deposit total (tot -£7,500.00 for fees and spare) = £34,317.02

(Still have £2000.00 tot bonus to come from this tax years LISA contributions due some time this month or early June)


We have been in contact with our mortgage broker and he's given us the go ahead to start looking!


We are still saving a min of £1200 a month so hopefully by the time we find somewhere we will have a better deposit too

Welcome. I am assuming you have paid this years contributions for LISA, otherwise I am wondering how you have got so much into them with the limits on H2B and LISA contributions. Best of luck with the house search

Edit - Ignore that I just read again and can see you have contributed this year

DeeDee87

Hi


We added the 4k max as soon as we could for this year as we really didn't know how long they would take to pay out and they say 4 to 9 weeks after each subscription so just took it out of our cash savings to not have that issue if we found anywhere we liked enough to offer on. We were originally looking at a starting looking at the end of August but figured if we can find somewhere earlier then we might as well.


I was a bit confused at how the H2B transfer would work as there was almost no details about it on the internet. But we each had over 5k in our H2B accounts and on the transfer forms there was a 'Transfer whole account amount' (or similar wording) check box which allowed us to transfer it all to the LISA even though our 17/18 contributions were complete!


We only got the bonus for the contributions from the H2B from the 16/17 tax year and not all that we had put in the H2B in 17/18, which we knew about before opening the LISA.


So all in all a pleasant surprise that we didn't have to faff about with more transfers

excelwizard

I've not posted here since July 2017 - my personal savings was around £12,000 and my partner's was around £7000 at the time.

My current saving totals:
Current account - £1050
Joint account - £750 (my half)
Flex Saver - £6150
Credit card - -£720
LISA - £10300 (including last years bonus)
total - around £17650

My partner has around £11500 so our combined total is around £29,000 We're saving until a date rather than having a specific target - our tenancy on the rented house we live in expires in February 2019 (was fixed for 12 months) so our motivation is not to spend more than a penny than we have to on rent

Everyone's doing amazingly well and it always inspires me to read such like-minded stories!