mortgage deposit..

[mummykayxx]

me and my partner have been saving for a deposit for ages. We're saving every penny and I'm so bored and frustrated with saving all the time and not spending a penny! we still don't have that much. just wanting a moan really! we live in a tiny little flat with no garden and its just plain horrible.just want to get out! ):

A mortgage isn't all it's cracked up to be you know! Lots of us have had many happy and *stressfree lives renting.

*no maintenance issues

Tell me about it mummykayxx, we have been saving for about a year and a half and have about £7000. It has been so hard to save that and it is still nowhere near to a decent deposit.

Tempted to just give up............

Do you qualify for Help to Buy? It depends what proportion of a property price £7000 accounts for in your area, of course.

Agee with lala the Help to Buy scheme could help you if what you have saved is 5% of the price of the house you want.

what about shared ownership?

Shared ownership got me on the ladder-might be worth looking in to. I made money when I sold it 5 years later and put that down as a deposit on a house on the open market.

I was in your situation OP...got a real kick in the butt when last landlord decided he was selling up (2 months after telling me he was after a tenant in the property for a minimum of 5 years!). It was my 2nd forced move in as many years...so it was finger out time!

We budgeted to within an inch of our lives...£50 ow budget for everything non house/bill related. Downsized 2 cars to 2 wee runners...I sold everything I could justify...but we did it. It helped that landlord couldn't get a buyer in the 6 months house was up for sale (nothing to do with me Your Honour lol) and we've never looked back! I even delayed exchange date to give me an extra months salary which made up final part of deposit...it was literally toast n beans our first month here to make up for it lol....

What about the new government scheme that's been announced...or Shared Ownership?

Have you done a forecasting budget that tells you what you should have and when? It's good seeing a target date to give you a reminder as to what you're going to achieve...mine told me April 2013...we moved in Feb

weve already seen shared ownership, deffo something to go for. still don't have enough for anything. with help to buy don't you need 5% % deposit already before you qualify tho? thanks for all the comments (: so nice to know im not on my own

Have a look in the Money section (Money Matter and Credit Crunch) too...there are hundreds of tips there to help you cut costs/make savings...it all adds up OP.