Raising a minimum of 10% of the value of a new house (first time buyer) is now the minimum requirement for getting on the housing ladder. The key to building up that deposit is to start saving sooner, rather than later.
Whether you are saving for your own home, or looking to set money aside to help your children get on the property ladder, the advice of a Financial Broker to help you turn your dreams into a financial reality.
Building a deposit
Unfortunately, with house prices still rising many people feel that owning their own home is beyond their immediate reach. However, with adequate planning and advice around recognised saving and investment principles, the necessary funds can be accumulated to secure that vital deposit for a property in the future.
Small actions can have great impact
Starting or maintaining this savings habit has of course two real advantages. Small steps can obviously help to build up large savings funds. Also, you will also have demonstrated the savings habit to any future potential lenders.
With outgoings at a premium, perhaps the only way for some people to achieve their dream is by firstly applying simple changes to their spending habits, followed by setting aside a contribution to a Regular Savings Plan which will meet your own Cash Target of a house deposit in 5, 7, 10 years or longer.
Alpha Wealth have been assisting people to meet their savings needs for years. Developing a range of Regular Savings Plans targeting future cash goals, whatever they may be.
4 step plan
Step 1 – Budget Calculator
Using the Alpha budget calculator will enable you to work out what your monthly income and expenses are and how much you have available to save. It will encourage you to consider areas where cost savings can be made and consequently provide funds toward building your house deposit.
Step 2 – Savings Calculator
The Savings calculator helps you work out how much you need to save each month to meet your goals. So whether it’s for you, or your children, you can estimate the costs of matching an estimated future house deposit with the required cash sum.
Step 3 – Review your recommendation
Following your initial discussions, Alpha Wealth can provide a recommendation report based on your personal requirements. We will explain and demonstrate how you can build the foundations for that all important house deposit in the future.
Step 4 – Online Apply
Alpha Wealth can use Zurich’s Signature Free Online system to process your application. This will set you on your journey towards your dream home. You can also see your funds build up through your own client centre access.
The Prisma multi-asset fund range from Zurich
We believe that the funds you are invested in should be the bedrock of your savings plan. As an active investment manager, we are conscious of the need to invest funds responsibly. Our responsible investment strategy aims to create sustainable value with the core objective of doing well and doing good. By investing in the Prisma range through a Regular Savings plan you can benefit from strong investment performance. Also, great active management and competitive pricing, all backed by the local expertise of Zurich Investments.