Gareth T
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Registered: 14th Feb 06
Location: newcastle
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When I asked my bank about getting a mortgage they told me I needed at least 10% deposit, the only way I could get that sort of money is a lottery win to be honest.
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SXI - Matt
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Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
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Thread's 6 years old 
[Edited on 25-04-2012 by SXI - Matt]
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John
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Registered: 30th Jun 03
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Save the 10% deposit with the money that the mortgage will cost you every month.
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AndyCorsaSport
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Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
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quote:
Originally posted by John
Save the 10% deposit with the money that the mortgage will cost you every month.
This is what me and the missus are doing at the moment. Started saving in Feb, have nearly £2k so far, so imo doing good. Going to knock up the amount we are saving soon.
Aiming for £10k + by just after xmas so can get a house 
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RichR
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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
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As of this month, I own 23% of my house and Britannia building society own the other 77 
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
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10k gets you a house? I'm aiming to save 25k minimum?? I thought that was a pretty normal amount to need to move out comfortably.
20k based on getting a 200k house for the 10% deposit, 5k needed for fees etc. Ideally I'd like 30k so can decorate/kit the place out straight away
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corsajay88
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Registered: 22nd Aug 11
Location: Upton, Cheshire
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Live with my parents, its 550 a month for a little two up two down here and its where all the students live so no thanks. Had a flat before with the ex but can't see the point on my own tbh. Rather have money to enjoy myself
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whitter45
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Registered: 15th Nov 02
Location: Norton
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quote:
Originally posted by Graham88
10k gets you a house? I'm aiming to save 25k minimum?? I thought that was a pretty normal amount to need to move out comfortably.
20k based on getting a 200k house for the 10% deposit, 5k needed for fees etc. Ideally I'd like 30k so can decorate/kit the place out straight away
this - not just deposit but solicitors fees, stamp duty and also money for furniture etc
Also with 10% deposit your ability to get good fixed rates is minimal.
appreciate everyone's different and situations are different but you can achieve 20% deposit then this opens up better deals
also try and stick to 25 yr mortgage
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
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That's £40k based on a 200k house  unless I live at home for another 2 years and live like a hermit that's just not gonna happen
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Fro
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Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
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Not going to bother with a house as a first place.
Going to remortgage Mum's house to release a deposit from the money i have been inputting into it for me to get a flat.
Will worry about a house once I'm qualified in a few years or settle down.
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whitter45
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Registered: 15th Nov 02
Location: Norton
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quote:
Originally posted by Graham88
That's £40k based on a 200k house unless I live at home for another 2 years and live like a hermit that's just not gonna happen
I know mate exactly - Like you say 10% will get you on the ladder but other costs need to be considered
Also think about what a 180k mortgage will set you back a month
Will be at least £1100 so should try and save that now each month for deposits etc
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
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Can't do that, I've got an M3 to run When I get rid that's the plan though.
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Baskey
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Registered: 31st May 06
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I own my own house but as I wanted 3 beds and a garage I could only afford one that needed doing up (alot)
Some people would hate it but I love having jobs to crack on with, there's always something to do and iv lernt loads of new skills etc. It's got to the point that I couldn't imagine living in a house that's 'finished'
Its certainly a cheaper way of getting on the housing market but you do need an understanding misses though
[Edited on 26-04-2012 by Baskey]
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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I'm going to live in a caravan with internet
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Russ
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Registered: 14th Mar 04
Location: Armchair
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Spencer does that
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willay
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Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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hows that going
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Russ
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Registered: 14th Mar 04
Location: Armchair
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He's survived winter
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
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Baskey that's the kind of thing I'd prefer to do. I'm in no pressure to move out so would be good if I could get a place and spend time doing it how I want. Without sounding cheeky can I ask how much cheaper you reckon you got the house to what it's worth and how much it will take to get to a spec you're happy with?
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Baskey
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Registered: 31st May 06
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I paid 145 for it but got a fairly good deal as I was a first time buyer and I brought it from a deceased estate and the family were keen to sell quickly.
Whilst it's structurally sound everything in side was really old fashioned so will need each room doing.
I will probely chuck 20k or so at it over the 4 or so years I plan to stay here, I am/will be doing most the stuff myself though with help from mates.
Nice ones round here that are similar are up for about 185k so it would be good if I could get it up to a similar level
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
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That's wicked, that's the kind of thing that would do me nicely! Have you got a 'project' thread for the bits you've done to it? And how did you find the house in the first place, presuming it wasn't on Rightmove etc?
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spencer88
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Registered: 6th Oct 08
Location: cornwall
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quote:
Originally posted by willay
hows that going
Brilliantly!
I have just seen a really good way to insulate them aswell.
They get cold quick, but also get hot quick.
A guy on a forum went into B and Q and saw boiler insulating jackets on sale at £3 each, but then buy 2, get one free. Insulated the underside for about £40. Helps alot!
Mine is a 3 bedroom place for just me so I have loads of storage space.
My bills for 3 months for gas and electric (no water bill) was £25.
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willay
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Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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£25 and you had electric heaters on? that aint bad
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spencer88
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Registered: 6th Oct 08
Location: cornwall
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Yep! Cut down the use of them a bit as it is warmer now though.
Gas fir uses the most cost wise 
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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you are my hero
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Baskey
Member
Registered: 31st May 06
User status: Offline
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quote:
Originally posted by Graham88
That's wicked, that's the kind of thing that would do me nicely! Have you got a 'project' thread for the bits you've done to it? And how did you find the house in the first place, presuming it wasn't on Rightmove etc?
Yes it was on rightmove but advertised as quick sale needed.
Iv a few photos on my phone of the work iv done but havnt really taken any of the bits once they have finished. I will see if I can stick a few up if I remember how to access photobucket
[Edited on 27-04-2012 by Baskey]
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