The 'We're saving for a deposit' thread

Eskimo12345

Been a while since I've posted on MSE!

Nice to see there's lots of us in the same boat

I started saving from scratch last January, have £12k now, saving £8-900 a month. Moved back with the folks two months ago, driving me mad having no space and no place of my own, and only saving £100 a month more than when I was living with my mates!

But by the end of the year I'll have £20k, £15k deposit and £5k for fees. At that point, dependant on the market, I'll either buy or move out and rent, only saving a little but having my space back!

I want a two bed apartment in the town nearby where all my mates live, nice ones at the mo are listed at £150k, hopefully less in a year.

My Nan said she'll help me out when I come to buy, although my old man told me she means with net curtains and doylees lol, I might sell em and buy a Jason Brooks print with the proceeds

Eskimo12345

I guess I might as well pop my budget here as well, I don't put any identifyable info on the site so it's nice and anonymous

Salary per month after tax: £1650
Rent to the folks: £200
Bills: £150
Petrol: £140
Food & social: £280 (£70p/w)
Save: £880

I barely drink which saves me a fortune, smoke roilies (cheap as!) and most of my weekly money (£50-£60) goes on food as I'm a bit of a gym junkie - on 3,500 clean calories a day :eek:

jamtart6

lostinrates wrote: »

Swings an rounabouts to our future saving. DH, after first month in new role, has been given a rise of £5000 per year! But, our real luury, the horse, is being made homeless. We've been paying £22 a week for her stabling, (chosen on the basis she can play with other horses, which is not common in the area we are living in.) The only yard I can find that will offer her turnout with other horses will charge, gulp, £122 pw (but will pay some of her food and other costs) and cost more in petrol. And I still haven't got a job. Which is depressing an infuriating. I'm not sure what to do, because while with the DH's payrise we CAN afford it, I'd rather be putting it in the house fund!

How attached are you to the horse? it sounds expensive! :eek: can you not part-own one or something? im not that up on my horses, but are there no rent-a-horse type schemes?

lostinrates

jamtart6 wrote: »

How attached are you to the horse? it sounds expensive! :eek: can you not part-own one or something? im not that up on my horses, but are there no rent-a-horse type schemes?

REALLY attached to her.:o I'v had her since we were both kids. And, while there are some horses or ponies that can be kept more cheaply she is, unfortunately, not one of them having the metabolism I wish I had, she eats phenominal amounts of food. She's a repsonsibilty and a friend (and my exercise and incentive for more exercise!). You can part own horses, or share them, but she's not ideally suited, but if I found the right person I would.

I've started putting out feelers to rent land, which might me an option, but means getting a second horse (whih will be rent a horse scheme :rotfl: ), but likely to cost less than the £122 a week option.

donkeyshorn

Hi everyone. Been reading this thread and it has inspired me to join if that's ok?

I'm 29 and still live at home. But hope to save for my own home. For the last ten years I’ve been enjoying myself too much and it's now time I grew up I suppose.

This is what my money does every month;

Wage after tax: 1300
Bills inc. car tax etc: 150
Rent to folks: 150
Petrol: 120
Mobile: 35
Social and General: 200
Personal Pension: 42
Holiday fund: 20

HOUSE SAVING
ISA: 300
High Savings account: 150

Only have £6k so far but aiming for added an extra 7200 a year. Should I be saving more?
And one question I have wanted to know is: if I save into an ISA that is not with my bank, it takes a few working days to transfer every month. Over a year I'm guessing I'm losing a bit of interested every year! Is observation correct or I am talking rubbish?

chelseablue

finally made it to £50K!!!!

MrDT

chelseablue wrote: »

finally made it to £50K!!!!

holy crap well done :T

that's 5k+ added in one month... about what i'm looking to manage in a whole year

chelseablue

MrDT wrote: »

holy crap well done :T

that's 5k+ added in one month... about what i'm looking to manage in a whole year

ha ha i wish

should explain I didnt update my sig for a while!

oldMcDonald

chelseablue wrote: »

finally made it to £50K!!!!

Well done!!!!

jamtart6

lostinrates - she may be quite tasty the girls on the OS board will whip up a menu for you. only joking OF COURSE (very poor taste in humour!) She sounds like a lovely horsey, what colour is she? Can you get someone to share the land with you and have their horse on it too? Or buy another horse and you can let that out and make some money on the 2nd horse?

chelsea blue - way to go you!!!!!!!!!!!!!! fab news!!!


To all - Gonna repost this on the board, but as you are all technically FTB's thought would be useful for you. My friend Reg (!) at Beresford Adams (friend is a loose term, though I feel I know him well as he rings me at least twice a week, a VERY tenacious estate agents beware!) rang me today (as per) and said all the Beresford Adams are trying to get vendors to pay a 5% of what their house is worth IF a FTB buys their house e.g.:

House is £150'000
You put your deposit in eg. 10%... £15'000
Vendor (person selling the house - a new term I learnt today!!ha!) pays 5% e.g. £7500 for you.

You either keep the money for renovation OR put it down as your deposit. It is to help FTB's who have less than 10% deposits to get mortgages, and to help 'vendors' sell their houses.

Whats the catch? Well yes there always is one, you have to have your mortgage with Beresford Adams (Countrywide I believe) BUT if they are offering the best rates (although they arent whole of the market I dont think) then its quite a good deal.