Saving a deposit for your first home or a new home?

Saving a deposit for your first home or a new home?

If you've just started saving up, or you're well on your way to reaching your target why not check out our tips below on boosting your deposit.

We've made a handy budget planner which is downloadable so you can print it and see where you could make some savings in day-to-day life. Why not print a couple of copies and complete it every few months to see if you're making the savings you planned. (Click on the link below to get your copy now).

It can be a real eye-opener when you look at your spending habits and realise where you could potentially make a few more savings here and there. Remember in the long run its worth it as you'll be a homeowner.

Below are a few examples we've come up with of spending that people might not think about but that could be reduced each month to top up the pounds in the bank.

The top Sky TV package costs around £85 per month - go for Freeview for 12 months and you would save £1,020!

Are you fan of a weekly takeaway? If the average curry or pizza sets you back £15 every Friday, that's almost £800 a year! Cut that back to once a month, and you'll save nearly £600 over 12 months, £300 in 6 months, and £45 within 4 weeks!

Need a coffee boost in the morning? If your morning pick-you-up on the way to work costs around £3.00, each month that's £60. Pick up a thermos mug for around a fiver, boil the kettle whilst grabbing your jacket, keys and shoes, and make a whopping saving of over £350 in just 6 months!

Other things to consider is are you getting the best deal on your energy bills, mobile and internet? uSwitch is a free service who can look at all of these things for you, check what package you are on then compare it to the open market and work out if you are getting the best deal. Utility Warehouse works in much the same way and The Money Saving Expert website also offers great tips and advice on checking your service deals. Don't be afraid to switch providers of a service as many people think it'll be hassle or take a long time whereas now there are more steps in place to ensure switches like this happen quicker for the customers benefit.

If you haven't already heard about it the Government have launched a Help to Buy ISA. The ISA's are offered by high-street banks, like other ISA's, but with the Help to Buy ISA the Government will boost your savings each month by 25%, so for every £200 you save they'll boost it by a further £50. To read our Help to Buy ISA blog click the link below.

Registered with Help to Buy South? Remember if you are registered with us and your deposit increases, or decreases, you should log in and update your details as it is important that your application is kept up to date. This is especially important if you are interested in a buying a home using Shared Ownership. Why not log in now and check your details are up to date?

More info:   

Downloadable Budget Planner, Help to Buy ISA blog