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The 'We're saving for a deposit' thread

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Comments

  • lumpyspaceprincess
    lumpyspaceprincess Posts: 185 Forumite
    Debt-free and Proud!


    I’m going to jump in and join this thread – as you can see from my signature my savings are HUGE so far ;)


    I’ve just paid off a DMP, and will begin to funnel that money into the deposit fund soon – also my credit file should start to look much better! Mr is a FTB and can qualify for HTBIsa, despite renting for the last 8 years I had a house before years ago (profit was just over £100!) so can’t get one myself. I’ve opened a 5% regular saver with santander, and am thinking I’ll use my 123 current to save the extra.


    We’re hoping to be in a position to buy a house by November 2018, aiming for a 12 -15k deposit (will be looking at house between 80 and 120k)
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £20,000 ¤


  • Rusty89
    Rusty89 Posts: 1 Newbie
    edited 14 September 2017 at 8:26AM
    Good afternoon all,

    I am a long-time stalker on these forums but I have decided to take the plunge and get involved.

    Current savings: £6,400 - this include H2B ISA and 5% Regular Saving Account, I did open a LISA on Monday.

    I have saved this since January 2016. I would have more but a purchase fell through earlier on this year so lost some money and I paid a credit card off too. This month is the first I am able to commit fully to my savings again - car insurance and a short break away got in the way. I am still at home with mum by the way.

    Looking to buy within the next 12-18 months with my partner who is shortly about to start saving herself. I've never really been the saving type so I do struggle sometimes but it's all about the light at the end of the tunnel.
  • tara747
    tara747 Posts: 10,238 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Belated August update from me!


    I managed to save £1,225 in August. That's £8,295 so far in 2017, and £117,417 overall.


    Still on track to hit the £12,000 target this year! :beer:
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • tara747
    tara747 Posts: 10,238 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Welcome all!!! :)



    lumpyspaceprincess wrote: »


    I’m going to jump in and join this thread – as you can see from my signature my savings are HUGE so far ;)


    I’ve just paid off a DMP, and will begin to funnel that money into the deposit fund soon – also my credit file should start to look much better! Mr is a FTB and can qualify for HTBIsa, despite renting for the last 8 years I had a house before years ago (profit was just over £100!) so can’t get one myself. I’ve opened a 5% regular saver with santander, and am thinking I’ll use my 123 current to save the extra.


    We’re hoping to be in a position to buy a house by November 2018, aiming for a 12 -15k deposit (will be looking at house between 80 and 120k)



    Do you intend to buy together? I may be wrong, but I think the HTB ISA bonus is only payable if both of you are FTBs. But in the meantime, your OH will get a nice 4% on his account.
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • Lolly88
    Lolly88 Posts: 322 Forumite
    First Anniversary Combo Breaker
    tara747 wrote: »
    Welcome all!!! :)







    Do you intend to buy together? I may be wrong, but I think the HTB ISA bonus is only payable if both of you are FTBs. But in the meantime, your OH will get a nice 4% on his account.

    No, the HTB ISA can be used for any first time buyer even if they are buying with someone who is not.
    Homeowner
    :j
  • archersluck
    archersluck Posts: 624 Forumite
    I first posted on this thread in January 2014, at that time my boyfriend and I had about £11k.

    He's now my husband and today we've been accepted for a mortgage (initial criteria and credit check at this stage so trying not to get too excited), with a 15% deposit of £36,750

    OMG!! I feel like my mission since uni is finally being achieved. Also the idea of having no savings in the near future is a little terrifying. We now need to live like hermits for the next few months as the money for stamp duty etc is technically also needed to buy me a car as new house isn't near a station...

    Saving for a deposit: £11,621.15
    20/25lbs
  • tara747
    tara747 Posts: 10,238 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    archersluck wrote: »
    I first posted on this thread in January 2014, at that time my boyfriend and I had about £11k.

    He's now my husband and today we've been accepted for a mortgage (initial criteria and credit check at this stage so trying not to get too excited), with a 15% deposit of £36,750

    OMG!! I feel like my mission since uni is finally being achieved. Also the idea of having no savings in the near future is a little terrifying. We now need to live like hermits for the next few months as the money for stamp duty etc is technically also needed to buy me a car as new house isn't near a station...


    Hurrah, congrats on the wedding and the deposit! Exciting times ahead for you both :D
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • tara747
    tara747 Posts: 10,238 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    September payday update!


    I saved £1,127 this month... that's £9,422 so far this year and brings my grand total to £118,544.


    Would love to hit £120,000 next month! Can I do it...?


    :beer:
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • AcidHouse
    AcidHouse Posts: 124 Forumite
    First Anniversary Combo Breaker
    Wow it’s been a while since I’ve been here, but it’s great to read through how everyone has made progress!

    I’ve now saved my full deposit of £14,000 which is such a relief. Buying on my own, so it’s been difficult to stay motivated at times but the vision of owning my own space and what that will feel like, and the level of independence it will give me has kept me going :)

    I’m almost halfway to saving all of the purchase fees and money for surveys

    After that I will be saving for the actual things I need in the home, which is more difficult to figure out

    I’ve spent the last few months deciding where to buy, the max I am prepared to borrow and generally being a hermit to save the extra money!

    Keep going savers :A
    :www: House Deposit = 100% Purchase Fees = 44% :)
  • Lolly88
    Lolly88 Posts: 322 Forumite
    First Anniversary Combo Breaker
    Congrats AcidHouse! That's such an achievement. I'm very excited for you, what part of the country are you planning to buy in?
    Homeowner
    :j
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