@mortgageminds

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Thank you

Please, I need more information on building insurance.
Is it better to take one, or allow the lenders do so?
What insurance companies are the best?
What covers do the insurance provide?

Thank you in advance

Wristler:
Please, I need more information on building insurance.
Is it better to take one, or allow the lenders do so?
What insurance companies are the best?
What covers do the insurance provide?

Thank you in advance

l will prefer shopping my own insurance than allowing the lender to give me one.

l am going with my car insurance company (Admiral) for Building + Content insurance, their quote was cheaper than what l got in the compare the market quotes. This is because l already have a car insurance policy with them, so adding another policy is cheaper.

Has anyone had a mortgage rejected before and the bank didn’t give a reason?

tshoboy:
Has anyone had a mortgage rejected before and the bank didn’t give a reason?

I think you should ask for the reason for the rejection from your mortgage advisor

ukay2:



I think you should ask for the reason for the rejection from your mortgage advisor

I did and also called the bank directly. The underwriters did not add a reason. My mortgage advisors have emailed them and fingers crossed for their response. Valuation, source of income and affordability all checks out. So it was really weird.
The problem now is that there are no other lenders asides Barclays that accept 10% while you are on a visa 😢. Really disappointing.

If anyone knows any other lender, please let me know.

Halifax, if joint income is greater than 100k.

tshoboy:

I did and also called the bank directly. The underwriters did not add a reason. My mortgage advisors have emailed them and fingers crossed for their response. Valuation, source of income and affordability all checks out. So it was really weird.
The problem now is that there are no other lenders asides Barclays that accept 10% while you are on a visa 😢. Really disappointing.

If anyone knows any other lender, please let me know.

tshoboy:

I did and also called the bank directly. The underwriters did not add a reason. My mortgage advisors have emailed them and fingers crossed for their response. Valuation, source of income and affordability all checks out. So it was really weird.
The problem now is that there are no other lenders asides Barclays that accept 10% while you are on a visa 😢. Really disappointing.

If anyone knows any other lender, please let me know.

This would have been quite distressing to you.
I know Halifax gives with family income upto £100K.
Speak to your Mortgage advisor to shop around again for you. Definitely you will get soon .

ukay2:


This would have been quite distressing to you.
I know Halifax gives with family income upto £100K.
Speak to your Mortgage advisor to shop around again for you. Definitely you will get soon .

Thank you. Sadly family income isn’t. Yes, we are shopping around for another lender.

Hi all
I have been an ardent reader of this thread and have picked up one or two tips and have made up my mind to finally get a house but i still have some questions im really yet to come around
im 29 years and have an agreement in principle with lloyds bank for upto 200k,
im currently renting with bills inclusive a property of 500
i have saved upto 25k as deposit and i think i might afford a property of upto 150k
considering im single is it worth it to get a house please or continue saving please?
if yes now that i have an AIP how do i know the appropriate offer to put in for a house

i have many others but will seek your guidance on the above for now
thanks

elisinho:
Hi all
I have been an ardent reader of this thread and have picked up one or two tips and have made up my mind to finally get a house but i still have some questions im really yet to come around
im 29 years and have an agreement in principle with lloyds bank for upto 200k,
im currently renting with bills inclusive a property of 500
i have saved upto 25k as deposit and i think i might afford a property of upto 150k
considering im single is it worth it to get a house please or continue saving please?
if yes now that i have an AIP how do i know the appropriate offer to put in for a house

i have many others but will seek your guidance on the above for now
thanks

1. Your affordability is the most important thing, if you've ran the numbers and it stack up wrt affordability, I'll say you can go ahead with the purchase. Timing the market is difficult if not impossible to achieve. Like the popular saying, the best time to buy was yesterday, the next best time is today.

2. Your post suggests you are buying an old build, so I'll say get a valuation report added to your survey. It will cost a few hundred pounds more, but it will be worth it. You can then use the figure from your valuation report as a guide on what to offer. You can also check price of similar properties in that area. The state of the property as revealed by the home survey can also be used as a guide on what to offer. All the best with your purchase.

Estroller:


1. Your affordability is the most important thing, if you've ran the numbers and it stack up wrt affordability, I'll say you can go ahead with the purchase. Timing the market is difficult if not impossible to achieve. Like the popular saying, the best time to buy was yesterday, the next best time is today.

2. Your post suggests you are buying an old build, so I'll say get a valuation report added to your survey. It will cost a few hundred pounds more, but it will be worth it. You can then use the figure from your valuation report as a guide on what to offer. You can also check price of similar properties in that area. The state of the property as revealed by the home survey can also be used as a guide on what to offer. All the best with your purchase.

Very well said....

Interest Rates biting harder.

Healhtyliving:
Skipton? If they are offering 100%, 10% for less than 2yrs residency shouldn’t be an issue.

Pls I sent you an empty email. Pls I need to get i. Touch with you.

Solumtoya:
Interest Rates biting harder.

Best to buy property at 20 years old........ If you buy at 40...... Wahala don carry twins...... 😜🤣

Lexusgs430:


Best to buy property at 20 years old........ If you buy at 40...... Wahala don carry twins...... 😜🤣

Baba so we wen come late to the party carry twins come . Abeg pity us small

Thanks all for this very educative information in here.

Can any one help give a summary of step by step process involved in FTB Mortgage. If you can help suggest a timeline too, that will be helpful.

fetomowo:
Thanks all for this very educative information in here.

Can any one help give a summary of step by step process involved in FTB Mortgage. If you can help suggest a timeline too, that will be helpful.

have you read this thread from beginning to end? Can’t you still see what you are looking for ?

Estroller:


1. Your affordability is the most important thing, if you've ran the numbers and it stack up wrt affordability, I'll say you can go ahead with the purchase. Timing the market is difficult if not impossible to achieve. Like the popular saying, the best time to buy was yesterday, the next best time is today.

2. Your post suggests you are buying an old build, so I'll say get a valuation report added to your survey. It will cost a few hundred pounds more, but it will be worth it. You can then use the figure from your valuation report as a guide on what to offer. You can also check price of similar properties in that area. The state of the property as revealed by the home survey can also be used as a guide on what to offer. All the best with your purchase.

Thanks for your reply
I actually put an offer it was rejected and i forgot about it but after some time the woman got back and accepted my offer now that she has accepted my offer im at the conveyencing stage.

Talking about conveyencing i got a qoute of 1990£ is that what is usually around please
also the survey i got a qoute around 540£ is that also a decent price please
Also do you guys advise i use the listing agencies for everything or i use my local bank, the listing agency is called STRIKE while i bank with lloyds and i have an AIP with both
thanks always for your replies all of you i massively appreciate

elisinho:


Thanks for your reply
I actually put an offer it was rejected and i forgot about it but after some time the woman got back and accepted my offer now that she has accepted my offer im at the conveyencing stage.

Talking about conveyencing i got a qoute of 1990£ is that what is usually around please
also the survey i got a qoute around 540£ is that also a decent price please
Also do you guys advise i use the listing agencies for everything or i use my local bank, the listing agency is called STRIKE while i bank with lloyds and i have an AIP with both
thanks always for your replies all of you i massively appreciate

The solicitor's quote varies a lot depending on the Solicitor and type of property. It's usually around £1,500 to £2,000. The quotation I had gotten for a £250k house in June was £1,593 from L&C so yours is high but not too far off.

As for STRIKE vs Lloyds, I would say NEITHER. Get a good Mortgage Broker like L&C or any of the ones listed on this thread, better still, get recommendations from family or friends. A Mortgage Broker or Advisor would shop around the market and get you the best deal. Lloyds or any other Bank can give you AIP easily but deny your Mortgage application especially if you are on a Visa. I have so many Mortgage-in-principles from a number of Lenders but only Barclays Bank seems to actually give Mortgages to Visa holders without requiring 25% deposit or £100k income. A good Mortgage Broker knows these things and will review your application thoroughly for success. Lastly, the Mortgage Brokers are typically free of charge since they earn commission from the Lender.

I am no expert but these are my opinions.

Solumtoya:


The solicitor's quote varies a lot depending on the Solicitor and type of property. It's usually around £1,500 to £2,000. The quotation I had gotten for a £250k house in June was £1,593 from L&C so yours is high but not too far off.

As for STRIKE vs Lloyds, I would say NEITHER. Get a good Mortgage Broker like L&C or any of the ones listed on this thread, better still, get recommendations from family or friends. A Mortgage Broker or Advisor would shop around the market and get you the best deal. Lloyds or any other Bank can give you AIP easily but deny your Mortgage application especially if you are on a Visa. I have so many Mortgage-in-principles from a number of Lenders but only Barclays Bank seems to actually give Mortgages to Visa holders without requiring 25% deposit or £100k income. A good Mortgage Broker knows these things and will review your application thoroughly for success. Lastly, the Mortgage Brokers are typically free of charge since they earn commission from the Lender.

I am no expert but these are my opinions.

Well said....

Barclays Bank Rates now

Solumtoya:
Barclays Bank Rates now

Halifax reduced their rate for me yesterday (15% deposit)...2 years fixed from 6.57 to 6.06% yesterday.
l am waiting for the completion date possibly next month...hopefully the rates will come down again before completion

Solumtoya:
Barclays Bank Rates now

Sorry to derail, I couldn’t quote you on the main thread but can I ask some questions? How many kg allowance is the cabin luggage and laptop bag (typical school bag )

ukay2:


Halifax reduced their rate for me yesterday (15% deposit)...2 years fixed from 6.57 to 6.06% yesterday.
l am waiting for the completion date possibly next month...hopefully the rates will come down again before completion

Sweet!

Solumtoya:


The solicitor's quote varies a lot depending on the Solicitor and type of property. It's usually around £1,500 to £2,000. The quotation I had gotten for a £250k house in June was £1,593 from L&C so yours is high but not too far off.

As for STRIKE vs Lloyds, I would say NEITHER. Get a good Mortgage Broker like L&C or any of the ones listed on this thread, better still, get recommendations from family or friends. A Mortgage Broker or Advisor would shop around the market and get you the best deal. Lloyds or any other Bank can give you AIP easily but deny your Mortgage application especially if you are on a Visa. I have so many Mortgage-in-principles from a number of Lenders but only Barclays Bank seems to actually give Mortgages to Visa holders without requiring 25% deposit or £100k income. A good Mortgage Broker knows these things and will review your application thoroughly for success. Lastly, the Mortgage Brokers are typically free of charge since they earn commission from the Lender.

I am no expert but these are my opinions.

thanks i contacted Land C and they said they will get in touch and i said i was refered and that they do give 20£ amazon voucher for referal if i tell them your name

Marvhyx:
Sorry to derail, I couldn’t quote you on the main thread but can I ask some questions? How many kg allowance is the cabin luggage and laptop bag (typical school bag )

Cabin luggage depends on the Airline but it should be anywhere between 8kg and 23kg. Most Airlines care less about the weight and more about the dimensions. They have specific size requirements so it can fit in the overhead rack. Please check your flight ticket, it would have all the information you need.

Solumtoya:


Cabin luggage depends on the Airline but it should be anywhere between 8kg and 23kg. Most Airlines care less about the weight and more about the dimensions. They have specific size requirements so it can fit in the overhead rack. Please check your flight ticket, it would have all the information you need.

My cabin baggage fits the dimensions but adding the rollers adds a couple of cm more but I don't know if the dimensions is just for the box itself and not it's rollers... Man I really really appreciate your response 🙏

elisinho:


thanks i contacted Land C and they said they will get in touch and i said i was refered and that they do give 20£ amazon voucher for referal if i tell them your name

Nice of them! No worries though, I haven't gotten a Mortgage through them, but just loved their services when I used them for M-I-P

tshoboy:

I did and also called the bank directly. The underwriters did not add a reason. My mortgage advisors have emailed them and fingers crossed for their response. Valuation, source of income and affordability all checks out. So it was really weird.
The problem now is that there are no other lenders asides Barclays that accept 10% while you are on a visa 😢. Really disappointing.

If anyone knows any other lender, please let me know.

Did they eventually tell you why your mortgage application was declined?