The 'We're saving for a deposit' thread

JacJac1

[Deleted User] said:

JacJac1 said:

I had my 10% deposit saved a couple of years ago, but then the pandemic hit and with so much uncertainty in the world I put my buying plans on hold. I do want to buy at some point, and my family nags me about renting and 'paying someone elses mortgage' but to be honest I'm fine with that. I rent from a big company who are very efficient in maintaining and fixing things, and my rent is just over a quarter of my income. A mortgage is going to be considerably more expensive, and more stressful. But I'm in my mid-forties and am running out of time. Decisons decisions!

The worry is that you reach retirement and are basically stuck because moving would mean a much higher, unaffordable rent. The government keeps talking about ending no-fault evictions, but if it ever happens it can always be undone.

I'm in a similar position, but with disability on top. Insane house prices rises mean that every time we get close, things seem to slip from our grasp. Now prices are falling a bit but mortgage rates are still relatively high. Ridiculous prices were just about achievable when rates were low.

Wondering if we can emigrate to a better country, but that's not exactly easy, especially with health issues and post-brexit.

Yes, I'm sure there are so many in a similar boat. Prices have dipped slightly in my search area too, maybe 3%, but that reduction doesn't nearly cover the mortgage rate rises we've seen since last summer. My retirement plan is to move away fron London back up to the (much cheaper) area I grew up in, but I'm not ready to leave the capital yet.

MissNinja

Same here, except we can't move to a cheaper area due to my partner having young kids and no driving license. Food, bills, council tax keep rising and my landlords are clearly enjoying their brand new lexus with leather seats.

I am incredibly salty as the kids would say...

Littlebigmoose

Is this thread still running or there’s a new one?

1stTimer

Admin please tell me off if I am doing wrong bumping this thread but after years of reading on here I’m finally trying to save for a deposit and it would be nice to have some company along the way.

With the way everything has increased over the last few years it’s going to be a while