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AteMoose

How Much Do You Have Saved For A Deposit?

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How much do you have saved for a deposit? are you a potential first time buyer or a Sell to renter? Are you saving and planning to buy as an individual or as a couple?

Edited by moosetea

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40k deposit on a £214,950 bungalow in North Yorkshire for my recent FTB, and I thought I'd done pretty well to put down that much.

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How much do you have saved for a deposit? are you a potential first time buyer or a Sell to renter? Are you saving and planning to buy as an individual or as a couple?

I'm a FTB and I have about 100K available for a deposit. 50k is tied-up in overseas property which could be accessed after about 1 month, the remainder is instant access savings.

Am I going to buy a house this year? No chance.

If you walked in to a pub and the pints went up from £2.50 to £6.00, you wouldn't buy them, so why would you with a house? What's worse, using borrowed money to finance it. I just don't get it.

My advice is to sit tight, wait and save in the mean time. By renting, you're saving a lot of money. As long as you don't piss it all away, and instead, make an effort to invest/save it all, then you will be doing a sensible thing.

You can come back to the housing market when it all settles down again, hopefully with a nice sum of money behind you.

Pity those who are tied in to 150K+ mortgages for the next 30 years.

Cash is King.

Huzzah!

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I'm in a smiliar situation. I am a potential FTB. I have a deposit of 50K and a reliable job which I like (teacher). Am I buying? Am I bollock$. I didn't work my **** off to do 2 degrees and a professional qualification (followed by a hard but fulfilling job) to live in anything less than a house that I like, in a good place.

I'm taking a few grand out of my deposit, quitting my job, and going travelling for a year. Houses will be affordable one day. All economic cycles are, er.. cyclical. I'm no pro-tennis player, but I know a racket when I see one!

Ciao!

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£35k here, but I quit my job this week so I won't be adding to it for a bit.

I thought about going travelling, but I don't want to use up any of this, so i'm going to get a no-brainer job and have a doss for a year or so.

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£35k here, but I quit my job this week so I won't be adding to it for a bit.

I thought about going travelling, but I don't want to use up any of this, so i'm going to get a no-brainer job and have a doss for a year or so.

The grass CAN be greener working abroad, given some tax regimes. Try it, you might not go back to blighty.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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