to think I may never get a deposit together

[dublingirl48653]

Hello all

ideas please

at least 34,000 needed by next march

If I am lucky I may get 14k together by then (will have a limited amount to live on per week but thats life)

am I crazy to think a credit union could help me out?

[monkeysox]

Why does it have to be by then.

If you give salary details and outgoings you might get more help

[Katenka]

Is it for a mortgage?

Do they lend money for you to put towards a mortgage?

[dublingirl48653]

45k per year
outgoings of 1500 per month

[dublingirl48653]

no dont think so just dont know what else to do
friend of mine did that but it is not common

[Katenka]

I would have thought having a loan for twenty thousand pounds would effect your credit rating when applying for a mortgage.

You say your don't think they will lend it for a mortgage deposit. Are you talking about lying to get the loan?

[dublingirl48653]

no not at all
I just dont know

will more than likely just save for 2-3 years in all likelihood

[Lj8893]

Why do you need it by then? Can you not save up for a little longer?

[TapDancingPimp]

What's the purchase price? That's quite a hefty deposit.

[noisytoys]

Why such a high deposit? Most first time buyer homes aren't £340k. A lot of places do 95% mortgages again so a £14k deposit should be plenty for a first home then move up the ladder further down the line.

[Katenka]

You are being quite vague.

Have you picked a house? Why next March?

If you can't afford it, you can't afford it unfortunately. You may need o save longer or choose a different property.

[Katenka]

And getting a big mortgage could be difficult if you also have a 20k loan.

[PennyHasNoSurname]

45k is what? 2,700pm, so that leaves you 1k per month after outgoings. Can you alter your outgoings? Swap to own brand products/join tesco clubcard and use them exclusively for food/fuel/gifts then use the points accrued. Do you have any credit with gas/elec providers? Switching will mean you get that credit back.

[AyeAmarok]

You can't take out a loan to use as a deposit.

You will just need to save for longer. Can you get a second job, short term?

[dublingirl48653]

march was a hope for 2017
dont think it will happen so will wait prop 2 more years

[Fluffycloudland77]

www.mumsnet.com/Talk/credit_crunch/2568175-fearless-frugaleers-finding-their-feet-in-february?

Post on this thread, we're good at budgeting and saving.

[dublingirl48653]

not a first time buyer

there dont seem to be many 5% mortgages at the moment, or have I missed something??

[jevoudrais]

It's not unusual to have to save for a few years, that's what normal people do. I don't really understand, are you just venting or do you genuinely think you're hard done by?

[dublingirl48653]

haha now now
def not hard done by

interesting responses on here seriously
(wheres my rolls eyes emoji :0 )

[dublingirl48653]

fluffycloud77 will get on that asap thank you

[Lj8893]

I think the 5% deposits are help to buy which only first time buyers are eligible for.

[Lj8893]

Your getting interesting responses as your posts are also rather interesting and vague!

[TapDancingPimp]

Do you have your heart set on a £340k house? Could you not set your sights on something smaller, rather than stressing over such a big deposit?

[noisytoys]

I know what you mean with the difference between where you are and where you want to be. I am in a flat we are rapidly outgrowing and can't afford the leap to the next rung but trying to be thankful for what we have rather than worry about what we can't have.

[dublingirl48653]

so true noisytoys

thankfully in a very good secure job with a great salary

[Lightbulbon]

First world problems