The 'We're saving for a deposit' thread

BACKFRMTHEEDGE

Just wanted to wish you all GOOD LUCK:D:j:T

jamtart6

'ello ello ello how are you doin? we have seen 5 houses this week...and soooooooo want to buy one...but we're gonna hold out until next year when im on a bigger wage and hopefully money wont be as tight! just added another £700 between us to the fund and broken another thousand pound barrier yay!

LittleMissAspie

My boyfriend and I are saving for a deposit too. Progress in sig. We are saving into cash ISAs each month and then topping up where we can in our personal savings accounts.

justme111

LittleMissAspie wrote: »

My boyfriend and I are saving for a deposit too. Progress in sig. We are saving into cash ISAs each month and then topping up where we can in our personal savings accounts.

just wanted to check, do you count the money you put into ISA as the money that goes into a deposit pot? Will you shed them when buying a house or will you keep your ISA?

Cemetery

Got a promotion finally so saving should be heading up a bit quicker now. Still aiming for the £10k a year so looking by the end of 2009 to have around a £40k deposit.

jamtart6

justme111 wrote: »

just wanted to check, do you count the money you put into ISA as the money that goes into a deposit pot? Will you shed them when buying a house or will you keep your ISA?

were putting ours in an isa too, but will have to take it all out and start from scratch when we buy a house

oldMcDonald

jamtart6 wrote: »

were putting ours in an isa too, but will have to take it all out and start from scratch when we buy a house

Same here. ISA tax free savings the first point to stash money, then high interest account

Will update our savings info later as don't have it to hand at the moment - hope everyone else did well with their savings plans during April

MrDT

LittleMissAspie wrote: »

My boyfriend and I are saving for a deposit too. Progress in sig. We are saving into cash ISAs each month and then topping up where we can in our personal savings accounts.

I'm filling up my ISA first, then when that's maxed 'deposit savings' will go into a high interest account. When I come to buy a house I'll wipe out my ISAs and start again.

Quite pleased with progress so far; aiming to save 5.5k in 2008 - I'm half way there and we're only 4.5 months in

I've copied your 'percentage of cheapest house within reasonable distance' sig idea LittleMissAspie

Well done everyone, keep at it :T

lostinrates

jamtart6 wrote: »

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? .

LOL, its ok to joke, I've lived in France and Italy....its a joke I've lived . She's black and she is beautiful. This has been short term resolved. After MUCH frustration we have agreed to do much as you suggest for summer and are sharing a field in our village with a retired horse. This will be halving what we spend through the summer! Yippee! I'm looking now for plans for autumn onwards so we dont have to make last minute expensive decisions. Re letting out, hmm, too many liabilty risks I think. DH has sugested I take out some instructor's insurance and o just this though (then we could ride at the same time instead of one of us walking/cycling or jogging at the weekends!). I think I want to be more certain about where we are living first though. Expensive as it might be to find emergency accomadation for one horse, well, its obviously double that for two horses!

Any way, its great nes about summer saving increase, but its tempered by the fact DH has confirmed he's taking an overseas post for 6 months. So I guess we will be spening more on travel again. :rolleyes:

re ISAa : I think we are going to have to use these more effectively. we have a small amount in ISAs but didn't really understand them, so we opted for by far the majority in high interest savings accounts (one in his name, one in my maiden ame to keep us under the £35k figure). I'm PROMISING myself that this month I will find some one who can help advise us more anbout being more 'tax effective' and help our pot grow faster.

lostinrates

Well, I've kept my promise and last week of this month I've arrange to meet three different financial advisers to see if one of them seems to be the right person for us. i used Martin's guide to choosing one and so far it has not been easy. My guess is at the meetings it will be an evaluation if we have 'enough' to be worthwhile clients for them and then if so a bit of hard sell from each. None were keen on sending the keyfacts documents and only one was very straightforward about fees..the others want to see 'what would be the best arrangement for our circumstances'...well, yes, but based on what!?

Also moved from terrifying Bradford and Bingley savings account (the mse top when we opened them)to Martin's new top instant access savings .

We will certainly put at least our target grand account away this month (even paying the fee quoted for the financial advice from the one whose been open).

So maths wise its going well. BUT I was out today and heard a song on he music ina shop and started to get really grumpy about the fact that I own that cd but can't hear it because like the rest of our stuff its either in a storage container or my parents loft. I wish I did already own dispite all the dramas, because the cost psychologically of all the lack o stabilty has been high. I'm not REALLY winging about a cd you understand, but the frustration
and instability and nights of sleepless dread about still being of no real fixed abode! The slow crescendo buildig in the media and financial press with price fall predictions, mortgage defaults etc and the plethora of bad news for home owners/BTLers does NOT set my heart alight with glee (I know that a lot of people think that FTBs or STRs are mawkishly waiting for the downfall of others) its just horrid, and I truely hate that our buying in a sensible and responsible way really seems to depend on this.