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Living In The Uk-life Of An Immigrant (part 3) / Living In The Uk-life Of An Immigrant (part 2) / Living In Canada/Life As A Canadian Immigrant Part 2 (2) (3) (4)
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Re: Living In The Uk/life As A UK Immigrant by Nobody: 2:21pm On Mar 30, 2018 |
Thanks Ralphlauren: Ralphlauren: So unfortunate 1 Like |
Re: Living In The Uk/life As A UK Immigrant by shaybebaby(f): 2:30pm On Mar 30, 2018 |
uzuz:Don't know if someone has addressed this subsequently but in the interest of those who might read later on, what you say is false. You MUST have buildings insurance if you are taking out a mortgage. This covers the structure of the property and anything which cannot be detached from the house. The optional bit is having contents insurance. |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 2:44pm On Mar 30, 2018 |
shaybebaby: Issue was thrashed back and forth....... My point is exactly your position and the legal responsibility of a mortgaged property.... Even after mortgage payment completion, it's still advisable to have building insurance cover..... For tenants, contents cover is advisable, but not compulsory (dependent on your overall contents value)... |
Re: Living In The Uk/life As A UK Immigrant by shaybebaby(f): 4:04pm On Mar 30, 2018 |
Lexusgs430: I'm not sure what you mean by mortgage payment completion. I don't know much about renting but would imagine that if it was let furnished, the landlord would have insurance for contents in addition to building cover. If it is unfurnished, then yes contents cover can be taken out at the tenants discretion. |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 4:12pm On Mar 30, 2018 |
shaybebaby: Let's assume you take out a mortgage payment for 25 years. At the end of the 25th year, your mortgage company would hand you over the property deeds...... Now the property is fully yours (mortgage free). At this point, it is still advisable to take out an insurance policy, regardless...... As a tenant, your could rent the apartment furnished or unfurnished. What type of insurance your landlord has to protect his assets. The policy a tenant should be having are for personal effects, such as jewellery, TV, dvd, phone, tablet etc etc. Incase the tenant suffers an unfortunate bulgary, the content insurance would pay out..... Hope it's now more clearer? 1 Like 1 Share |
Re: Living In The Uk/life As A UK Immigrant by shaybebaby(f): 4:31pm On Mar 30, 2018 |
Lexusgs430:Much clearer now, it was the term used that threw me for a loop. (redemption is what i hear often). Thanks for clarifying. |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 4:37pm On Mar 30, 2018 |
shaybebaby: I presume by redemption, you meant paying off your mortgage much earlier than the scheduled duration... In reality, how many people actually redeem their mortgages? Redeeming the mortgage, is usually of the mind only.......... 1 Like |
Re: Living In The Uk/life As A UK Immigrant by shaybebaby(f): 4:56pm On Mar 30, 2018 |
Lexusgs430:No, mortgage redemption is just that, paying off the outstanding loan whether it prior to term of the mortgage or not. The redemption amount is the amount required to settle the debt in full. Where you are paying it off before the end of the mortgage term, that is called early repayment and as such may incur additional charges in addition to the outstanding amount. You can redeem your mortgage before the end of the mortgage without incurring additional if you make no more than an additional 10 percent payment of the outstanding loan amount in a year. Eg if you take out a mortgage for 200,000. In the first year of the mortgage, you can pay an additional 20k of repayment in addition to your monthly payments (I'm ignoring the capital you are paying for if on a repayment mortgage and not interest only,however banks will calculate that). Year two, assuming the outstanding amount is 180k,you can pay off an additional 18k. Etc Doing it this way, one can be mortgage free in less than the term of the mortgage without incurring early repayment charges. Second 3 Likes |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 5:00pm On Mar 30, 2018 |
shaybebaby: Mortgage redemption comes in 2 variations, this aspect and the one I stated....... But both variations are usually of the mind....... (in reality) |
Re: Living In The Uk/life As A UK Immigrant by shaybebaby(f): 5:10pm On Mar 30, 2018 |
Lexusgs430:What if the person comes into an inheritance? What if you change lenders? The mortgage with the first lender is redeemed using the funds from the new lender. Funds could come from sale of the property in question. A mortgage is a loan, you pay off the loan, you have redeemed it. To be granted the mortgage, lenders require you to insure the building. No buildings insurance, no mortgage (loan), it is a prerequisite. If you are buying outright, well yes, you owe no one, the property is yours outright so up to decide if you want to take risks with what could be the most expensive asset you own. |
Re: Living In The Uk/life As A UK Immigrant by Jarus(m): 5:27pm On Mar 30, 2018 |
DisGuy: Hadji, so you still dey Nairaland. Eku ojo meta. |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 5:58pm On Mar 30, 2018 |
shaybebaby: Inheritance? Your grandparents dey UK? |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 6:02pm On Mar 30, 2018 |
shaybebaby: Funds could come from the property in question? Very true....... After how many years of ownership + property appreciation + equity generation.......... What do you you do with the equity? Pay off your existing mortgage or downsize or buying another property or live on the street or sofa shuffle or relocate back to Africa? I hope you are getting my drift? Yes, you might pay off your existing mortgage. But what happens next? |
Re: Living In The Uk/life As A UK Immigrant by shaybebaby(f): 8:00pm On Mar 30, 2018 |
Lexusgs430:Whatever you wish you do, the fact is you have redeemed the existing loan. |
Re: Living In The Uk/life As A UK Immigrant by DisGuy: 8:50pm On Mar 30, 2018 |
Jarus: I kuku dey o. Reporting live from Opebi Silently following sir Was at moleye st on Wednesday! 1 Like |
Re: Living In The Uk/life As A UK Immigrant by Jarus(m): 10:36pm On Mar 30, 2018 |
DisGuy: Wow! Are you fully back in Nigeria? |
Re: Living In The Uk/life As A UK Immigrant by fatima04: 7:59pm On Mar 31, 2018 |
DisGuy:. Funny . How the traffic for your side |
Re: Living In The Uk/life As A UK Immigrant by fatima04: 8:04pm On Mar 31, 2018 |
Ralphlauren:. Na wa oo. The hustle is real, no piece of mind for dt long. But come to think of it, been wondering ow overstayers do survive with all the checks, registrations, references associated with getting a job (including low level ones), renting a house and operating a bank account etc. 2 Likes |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 8:19pm On Mar 31, 2018 |
fatima04: The noose is currently tightening around illegal immigration. Banks are now conducting immigration checks on all Bank accounts, landlords are now semi immigration officers (tenants must produce immigration documentations, prior to renting), or else landlord faces a hefty fine, the checks would also extend to historic mortgage accounts etc etc etc Illegal immigrants simply live their lives daily, hoping it would be not be the last day before an arrest, trying to get jobs in the black economy, cash to hand jobs etc etc etc It's tough, but they somehow get by........ 1 Like |
Re: Living In The Uk/life As A UK Immigrant by DisGuy: 12:37am On Apr 01, 2018 |
Jarus: Mbaa for this apc pdp economy.....!?!? 1 Like |
Re: Living In The Uk/life As A UK Immigrant by Jarus(m): 12:56pm On Apr 01, 2018 |
DisGuy: |
Re: Living In The Uk/life As A UK Immigrant by Inkredible(m): 5:35pm On Apr 01, 2018 |
Lexusgs430: Which one be BLACK economy again? |
Re: Living In The Uk/life As A UK Immigrant by justwise(m): 5:42pm On Apr 01, 2018 |
Inkredible: Illegal work, those that pays cash in hand. Long hours with below minimum wage pay 1 Like |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 5:50pm On Apr 01, 2018 |
Inkredible: Paying no tax, no NI contributions, cash in hand type situations........ Hush Hush situations...... 1 Like |
Re: Living In The Uk/life As A UK Immigrant by Mamatukwas: 7:06pm On Apr 05, 2018 |
My senior colleagues. I dey greet oh. We are in the process of deciding on a home wifi provider, tv subscription etc... Can anyone share the most affordable and sensible service providers? Let's not go and enter 1 chance. Mostly for wifi and tv and possibly phone sef. Just that we already have 1 02 contract that I'm looking at with side eye. Will appreciate y'alls feedback. Thank you. 1 Like |
Re: Living In The Uk/life As A UK Immigrant by fatima04: 8:34pm On Apr 05, 2018 |
Hiya, you can try money supermarket.com to check d provider that's is strong in your neighborhood by searching ur exact postcode. BT is good and usually strong in most places and very easy to setup yourself and also not to expensive to maintain with some extra benefits for sim and other plans 5 Likes 2 Shares |
Re: Living In The Uk/life As A UK Immigrant by Nobody: 10:08pm On Apr 05, 2018 |
Mamatukwas:depends on your area. the rent agency atimes have 3rd party that offers you choices based on cost effectiveness |
Re: Living In The Uk/life As A UK Immigrant by Mamatukwas: 11:05pm On Apr 05, 2018 |
fatima04: Ok. Thank you. I will check with the website. |
Re: Living In The Uk/life As A UK Immigrant by Mamatukwas: 11:06pm On Apr 05, 2018 |
Geetrix: Ok. I'm in Scotland. Will check. Thank you. |
Re: Living In The Uk/life As A UK Immigrant by Mamatukwas: 1:16am On Apr 06, 2018 |
So after investigating, it's looking as if EE and Talk Talk are the preferred service providers in our end. Not sure which to choose because I don't know how thier tv offering differs/ranks. Please anyone with experience using either or both can share. Thanks. CC: @Fatima04 @Geetrix @House |
Re: Living In The Uk/life As A UK Immigrant by Lexusgs430: 2:09am On Apr 06, 2018 |
Mamatukwas: Are your looking at subscriptions for satellite TV services + broadband? Does Sky provide services at your location? I would suggest BT for phone + Broadband and Sky or TalkTalk for satellite services....... (if possible)..... 2 Likes |
Re: Living In The Uk/life As A UK Immigrant by Mamatukwas: 8:19am On Apr 06, 2018 |
Lexusgs430: Yes I'm looking at subscription for Satellite Tv and broadband. What I noticed after using the money supermarket website is that BT isn't popping up much for my post code. Even Sky sef you have to scroll down. Top choices are EE and Talk Talk. Not sure if it's genuine ranking or marketing gimmick. I added phone because I read on this thread somewhere that it makes financial sense to get it all in 1 bundle.. so... JJC tins sha.. pls bear with me. |
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