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Saving for a house

  • 06-01-2016 1:13pm
    #1
    Pecker31
    Closed Accounts Posts: 200 ✭✭


    Hi I am just looking for some general advise. Myself and my partner are starting to save for our first house, we are a few years away from having the mortgage deposit but am wondering where is the best place to start saving? At the mo we are doing a direct debit to a CU. Also for 1st time buyers is it 10% of the house price you need saved. Thank you


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,128 ✭✭✭homer911


    Put your details into bonkers.ie


  • #3
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    It makes no difference where you save as you will need to provide a 6 month savings statement with your mortgage application. Currently you need 10% deposit plus stamp duty of 1% of the purchase price and legal fees of approx. 2k.
    Pecker31 wrote: »
    Hi I am just looking for some general advise. Myself and my partner are starting to save for our first house, we are a few years away from having the mortgage deposit but am wondering where is the best place to start saving? At the mo we are doing a direct debit to a CU. Also for 1st time buyers is it 10% of the house price you need saved. Thank you


  • #4
    sebcity
    Closed Accounts Posts: 546 ✭✭✭sebcity


    10% on the first 220k, 20% on anything after that


  • #5
    mel.b
    Registered Users, Registered Users 2 Posts: 3,130 ✭✭✭mel.b


    Check put the best buys on askaboutmoney for the best savings accounts / interest rates. From my own experience saving for a mortgage putting the money somewhere where it's hard to access is good - i used KBC for some of my savings as i had to write to them if i wanted to make a withdrawal...it stops the temptation of dipping into it.


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