@Wunmi38. I had suggest you make your own application first. Since they are not travelling with you. They can always make their application when they are ready to travel.

@Lokia. Yes you need to submit original,IELTS, marriage and degree certificates.

@Lokia. It doesn't matter if balance is at zero in your savings account. As long as there is money going in and out and not a one time lump sum. You can include it in your supporting documents, You should also include your salary account as evidence of your income, then you should not forget to add your spouse's statement of account, while she writes you a support letter stating funds will be available to you throughout your stay.
Adding your cooperative and thrift society account is not a bad idea. Just avoid cooking up account and lump sum deposit. As long as there is evidence you are a signatory to the accounts you want to use and funds will be readily available to you.

Your proof of ties family, work etc is ok. Regarding accommodation, I will advice you request a tenancy agreement from your family friend if he his willing to give you with his passport data page, recent utility bill, bank statement and Biometric resident card or Passport showing his residential status in UK.
This method reduces further need to show more funds. If you can't get the above from your family friend you can go on to book hostel.

Hope you going for PLAB 2 Training course in London?

Nice Post. If I may add...If you want to study for Masters make sure it complements what you have done in undergraduate and you are seeking to upgrade to higher level in same career path and if you are changing career make sure it will be beneficial to prospective employers and it is a course in need with the current job or future job climate.
Eg.
Most students go abroad studying Masters in International Business with no inclination towards any potential current or future job trends.You don't need Msc International Business to do International Business...that doesn't imply it's less significant...but there are better course options in that line. While some change career in the wrong direction....studying English for BSc then going for MSc Project Management with no Construction, Engineering or IT background. Why waste money? There must be a foundation somewhere for career progression not unhelpful degrees on degrees. If it is not worth it...then no need.