I’m going to save £200 a month for house deposit, £200 a month in my bank for emergencies is that good ?

Answers

Ricky

It's a start, but depends on many factors. How much you earn, and whether it is enough when you apply for a mortgage, what type of investment (some can be much better than others), house prices can rise faster than you save, the actual prices in the area you want to buy in. Suggest you just save what you can, see where you are in a few years time. Do some internet searching about types of ISA's available; basic savings accounts have low interest rates.

Slumlord

May take you a few years to save up a deposit at that rate but its ok. Just do what you can.

real estate guy

Until I know how much you actually earn, I can't say. If you earn 10,000 a month, then saving 400 a month is NOT good. But if you earn 2000 a month, saving 400 is great. Any amount you are able to save is good. The more the better.

Maxi

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