The 'We're saving for a deposit' thread

lostinrates

How's everyone doing?

jamtart6

Hiya!
Hopefully by the end of the month we can fill this years ISA allowance too thats 2 years worth now!

I have opened an alliance and leicester regular saver (8.1% interest) and amgoing to open a halifax 10% one for the rest of the years money

We probably have 4% of the price of the property we are looking at saved, we should be at about 7% by the end of the year. Aiming for 10-15%, house hunting on hold, and both of us looking for new jobs (when Im qualified my starting wgae should at least double .)

So while things are going slowly, we're really proud of ourselves are we're on low wages

lostinrates

Well done! Very impressive on the isa front, thanks for the reminder I'll kick DH about that. We didn't get to the IFA because DH had to cancel for work. Reluctantly I'm now looking for someone we can speak to in London, near his office so there is no excuse. Unfortunaterly in the City they expect millionaires, not FTB' scraping together deposits and I'm struggling to find somewhere suitable for modest us!

jamtart6

good luck with it!!! can you just go to a bank to get a rough idea of how much you can get?

lostinrates

jamtart6 wrote: »

good luck with it!!! can you just go to a bank to get a rough idea of how much you can get?

We have a rough idea of a simple personal mortgage its how to best maximise our savings in the short term thats my initial concern, and then perhaps some reasoned focus on what our steps from here towards end goal (including property, savings, etc etc). I think also we need some tax advice because I tink we are not doing as we could be there but who knows?:o

jamtart6

ah sorry didnt read your first post properly about this

im just sticking to high interest savigs accounts for us

lostinrates

jamtart6 wrote: »

ah sorry didnt read your first post properly about this

im just sticking to high interest savigs accounts for us

and your ISAs!

babylonfree

Got a nice hefty deposit now, i'm getting to the point where i'm considering on trying to buy somewhere without a mortgage, or a tiny one at least.

I'm 28 and my mrs is 26... I have £55k saved and she has £15k. Between us we can save about £1700 a month.

I think one more year at home (gotta get out before the big 30), by then we should have £94,610.15 according to martins savings calculator. :T

lostinrates

Very Impressive!

PasturesNew

I've got my cash in ISAs and various different instant access accounts.
Keep meaning to look into NS&I something to do with following the CPI, but it's all confusing and long-winded. So I've started that 3-4 times in the last 6 months and lost the will to live.

I don't "save", I just log onto my main bank account every now and again and shovel spare cash (anything over £1000) into whichever is the highest paying account at that time (that I can remember the passwords etc to) and leave it at that. I know with £1000 in there it'll never run out and I don't want to be checking/moving money weekly.

I guess I've got about £500/month that I don't spend. So on average it's probably that much that gets shovelled out of my current account into the savings accounts.

Whatever's in the savings accounts I've no idea. Once it's been shovelled it effectively ceases to exist in my mind.

I'm not a high earner and I live alone, so that makes for high %age overheads.