The 'We're saving for a deposit' thread

lostinrates

jak wrote: »

I find it hard to work out what to do for the best too. As we are saving for a major holiday I have to try to keep that money seperate if I can. I'm now trying to do this via a spread sheet so I can max out my 10% halifax reg saver.
I can get a bit confused so....

LOL, I'm not called lost -in-rates for no reason!

We have made a very sad decision not to go to a friend's weding overseas this summer. He's very understanding about it (he knows why and he is very supportive and he knows he is loved). We feel very bad as this is a decision of luxury, not a decision of necessity. I was in Milan for business combined with peasure in January and I'm back in Italy for the same combination in June, so we are considering those our holidays.

MrDT

Me too. We've just agreed to a new 12 month rental and looking to lock up savings for 12 months now in the hope of getting a half decent return. Just need to get round to sorting it!

VKay

Hello! I'd like to join too- how do I do a signature then?

I'm in my early 30s looknig to buy with boyf. We have just pulled out of buying a house as there were probs with the build/construction. Now I'm yhinking maybe we shouldn't rush. I have good deposit and my boyf has almost nothing but i earn a lot more than him and lived with my parents for several years in my late 20s which allowed me to save a lot and pay back all my student loans. Anyway will do a sig when i know how!

lostinrates

VKay wrote: »

Hello! I'd like to join too- how do I do a signature then?

I'm in my early 30s looknig to buy with boyf. We have just pulled out of buying a house as there were probs with the build/construction. Now I'm yhinking maybe we shouldn't rush. I have good deposit and my boyf has almost nothing but i earn a lot more than him and lived with my parents for several years in my late 20s which allowed me to save a lot and pay back all my student loans. Anyway will do a sig when i know how!

Um, sigs are somewhere somewhere under user cp I think? Have an explore...:o

welcome!

ricll

Hi all, I've discovered this website recently and have been reading quite a lot of your posts. Any comments on my situation would be appreciated. I'm 29 and I've got roughly
£12,500 - A&L savings acc
£3,650 - HSBC ISA (started 2008)
£2000 - HSBC current account (part will be transfered to ISA or saver)
£500 - Halifax
£250 - HSBC 8% regular saver (just started)
total = £18,900

I'm putting £250/month into the regular saver and about £400/month towards a mortgage I have in my home country (paid 25% already, no deposit). Besides that, whenever I have some spare cash I save. I'm single at the moment, so am not spending much apart from the sacred beer at weekends . I'm guessing I should have around £30k for a deposit in a £180k two-bedroom flat, but ideally it would have to be at least 20%, which would mean £36,000. Am I guessing right?
Regards
Ricardo

VKay

user cp? Sorry to be thick... no idea what that means!

mbynwa

user cp = user control panel

here http://forums.moneysavingexpert.com/usercp.html

VKay

Ok I'm back with a signature I hope! Thanks for your help. let's see....

lostinrates

ricll wrote: »

Hi all, I've discovered this website recently and have been reading quite a lot of your posts. Any comments on my situation would be appreciated. I'm 29 and I've got roughly
£12,500 - A&L savings acc
£3,650 - HSBC ISA (started 2008)
£2000 - HSBC current account (part will be transfered to ISA or saver)
£500 - Halifax
£250 - HSBC 8% regular saver (just started)
total = £18,900

I'm putting £250/month into the regular saver and about £400/month towards a mortgage I have in my home country (paid 25% already, no deposit). Besides that, whenever I have some spare cash I save. I'm single at the moment, so am not spending much apart from the sacred beer at weekends . I'm guessing I should have around £30k for a deposit in a £180k two-bedroom flat, but ideally it would have to be at least 20%, which would mean £36,000. Am I guessing right?
Regards
Ricardo

I think the simple answer is the bigger the deposit the better the deal. there are some 10% mortgage deals around I think, but inevitably if you can get 20%/25% you'll get a better deal.

Other things to consider would be interest only part of mortgage v rent.

Particularly relevant to you might be how long you plan on staying in UK.

lostinrates

VKay wrote: »

Ok I'm back with a signature I hope! Thanks for your help. let's see....

Hurrah....sorry I wasn't clearer before:o