₦airaland Forum

Please oh the seniors. An update to my previous post:

1. I have reserved the first new build and the solicitors recommended by the Builder has commenced work. Their recommended broker is also working on my mortgage approval. Hopefully it comes back soon.

2. I have another DIP obtained from another broker and that one is for old build. I am still negotiating with the Estate Agent. I want to take advantage of the fact that I already have a bird at hand and so I slashed the asking price thinking they may say yes and if they insist on no, I move.

I also have another DIP with another broker bit don't let me bore you with this.

My question, can I have more than one mortgage applications at the same time? And I hope it doesn't have any effect? The idea is to go for the best even if the 3 applications says yes to me.

Lastly, for new build, is it possible to solicitor to conclude e everything within 1 month. Note that the solicitor was recommended by the Builder.


I will be waiting in one corner here with a cup of zobo to read your useful comments as usual.

Lexusgs430:
You need to tile the bathroom wall from top to bottom....... 😂🚽

Renovations are not that major...... Do you have a credit card.......

What jobs can you tackle yourself....... DIY..... 😁

We don't want the kids to think, daddy is trying to suffocate mum..... Why is he putting all his weight on her...... 😭🤣

😆😆😆while Inspecting the house, that was the first thing that came to my mind. I was like.... if the kids are looking for their mum nko

Thank you all for your suggestions. I never thought of credit card cos I have always exercised restraint not to exceed 20% of my CC but since mortgage is settled, then to hell with 25% credit utilisation.

Lexusgs430:
What sort of renovations are required.......

Interior painting, the 3 bathrooms all have shower glass but the walls are peeling off which means water has penetrated. So I need to screed and paint. The master room on the second floor doesn't have a door and I want to introduce a door so kids don't just step into the room from the staircase. Make them no dey see action when madam come upstairs for quickie. Lol

In all, it is just to touch all the minor repairs. The house is clean and not old. It was built in 2004 and is well maintained

Lexusgs430:
You would not get cost for renovations, from your mortgage lender..... You could get a top loan, to run parallel......

Thank you boss for this. At least I can now weigh my options. 🙏🙏

Please I need some clarity around buying a second hand house. The property is 20 years old and in a very good location. My current house is just 5 minutes walk away. Surprisingly, my madam who has always been bent on new build like the house. Now, my ASK is- will the lender give me the funds that cover purchase price and renovation or I will have to sort out renovation myself? Pls note that my DIP and AIP amount is far more than both purchase price plus whatever renovation will cost. Thanking you on advance

babajeje123:
Wait...are you rate fixed for 5 years is not a good option?

Yes. The rate is fixed for 5 years. I have now put the idea on hold and wait till next year.

Dilemma pls help;

Option A- a new build with deposit unlock and 1040 GBP monthly payment. The ish is my wife and children do not like the area.

Option B- same size of the house. No deposit unlock and I don't have 10% contribution. I have a mortgage at 95% but the interest rate is over the roof. Monthly payment of 1500 GBP fixed for 5 years. My family likes the area and we don't need to relocate school. If I have 10% I would pay 1200 GBP monthly. Nice location and it comes with solar panel. The price of the house is more than the above.

Option C- If I don't buy now, I may not see the opportunity to own house in that area. In the end, I may be paying rent of 1250 to 1300 monthly starting from next year. Advice please

Elders in the house. Please what can I use to back up the ajo money that was paid into my account. The amount (thrift) is used to boost my deposit for mortgage and I intend to print statement. I ve got AIP from Lloyd Bank and also DIP from my advisor.

I ve found the house too.

Thanks

All of you dishing out advice. I said well done oh. I believe by now, the woman must have been left more confused than she was before asking the question 😕. My own advice to her is this:

1. Sit down with your hubby and agree. Ensure you get her nod to whatever decision the family is taking. Otherwise this may come back to hunt your family later

2. Consider not just the short term benefit but the long term benefit of your decision. In my own case , I was earning close to that when I left Naija after and believe me, no regret at all.

3. Comparing the two scenarios without a longrun in focus may lead to sub optimal decision. I.e 5m is a big money but where will you be in 6 years with that 5m assuming all things being equal. What is the chance that you can continue to retain that job? Nigeria is volatile and especially oil company now. How does Dangote Refinery impact your company? What if Nigeria stops importation of oil? Jow does it affect you?

4. For UK, where does it leave you after 5 years. Is your husband able to do care work or work in the warehouse/production if engineering work is not possible? Can he upgrade his civil engineering and after a while, then establish himself with a good job. Can he do a night shift? As a dependent Visa holder, he has the opportunity to choose shift on the days you are not working. You guys can plan it together. People that compare 5m to 2k nurse are not doing justice to the question. In UK, everybody works so your household income in Naija should be compared with your expected house hold income in uk. At worse, your husband will get a job within 6 months if he is not choosy. So your 2k plus his 2k is 4k on the average. I won't talk about education cos I believe I ve laid a good foundation for you and then you can continue to assess your risk and rewards together with focus on shirt and long term in mind. Cheers

@those using Trading 212, do you pay any fee if you are trading I.e buying and selling within short time

No job is secured anyway but you ate sure og getting another job in UK, but if anything happen yo that nurse job in naija hmmmm

Please and please. Stay away from giving advice to the woman if you do not belong to the following group:

1. You are a nurse in uk and have stayed up to 2 years

2. You have been in the UK for more than 5 years

3. You just moved to UK or your spouse is in Uzk but you were/are earning close to 40m per annum in naija.

Please do not misinform her because it is a life decision. If you have not seen money before, you might think 5 million naira is something but you ve forgotten that there are some hidden cost that come with earning 5m monthly.

edmasta01:
I repeat, property investment will give you way more return than the S&P 500. Property prices if purchased properly doubles every 10 years. If I lie, go and check property price history on land registry.

If you and I were given £100,000 for investment each and you invest yours into S&p 500 and I invest mine into properties, i will make more money than you within 2 years - 10 years.

No property investment that does not use leverage. If not, why do we have mortgage companies in the UK? Even the direct tax exposure you are highlighting is not a big deal.

If you purchase 2 properties with £100,000 investment and you sell the property in 5 years, (a) you can recoup your £100,000 out of that sale first without paying tax on it (as it's classed as investor loan and is not taxable).

And yes, you can own multiple properties without paying lots of taxes on it. You just need a good tax advisor.

Your stock markets can also go on a downward spiral. It is not a sure investment. My point is that you can't denigrate property investment when all the wealthy people and politicians in the Uk use this to their advantage in favour of the stock market when that is not guaranteed.

What matters is diversification.

This matter is simple. You can do a rough calculation using the two scenarios and let us access the profitability.

Make I just stick to my 20 quids per month. Yorkshire water dey do this one and upon that, I still dey drag it with them each time they charge above 25 pounds

Goodenoch:
Please do @elengine, so I can ask this question that’s confusing me. I’ve exhausted all my math skills (admittedly not very much) trying to work out whether an SIPP is better than a LISA for investment savings.

Yes I need to create time to do it. After listening to the podcast by Morgan Housel on whether to buy a house for investment or invest in a SnP 500 companies. So I feel people need to do their math very well before going into real estate. A real life analysis shows that it is a not a good investment options

Hi everyone. Someone had suggested on this platform in 2023 that we should create an investment forum. Abeg is the forum now existing? If not, our seniors should lead while we follow.

willyede:
Why not spread your risk. Trade with the 212 Fidelity etc incase stuff hits the wall

Okay good advice. Is there any link you want to share or should I just go download the app?

Hi everyone

As a skilled worker visa holder, can I trade on shares and stock in the UK? I just registered with Revolut now and I thought I should ask before going ahead. The Google search is not making sense

God bless you for this. They keep disturbing us with their politics talk especially US election. Wetin concern us and the annoying thing is that I sent a message regarding IPTV but I have not gotten the help I need as we speak. I believe it goes beyond just Google and subscribe to any nonsense but people who have had experience are refusing to help. So what is the essence of this Platform. I don't know. Shior

Solumtoya:
At this point, we need to consider opening a "UK - Politics" thread so we can leave this thread for "Life in the UK"...

I pity new folks who would want to read through the thread to gain knowledge like some of us did when we landed here. Nowadays, no one asks questions anymore because the thread is so heated with far-this and that arguments. When people ask questions, there's barely answers. Even US Politics goes on for days and I wonder.

It was almost tolerable before the Elections since it was assumed to be campaign but now it's just name-calling and ideology-dragging talk that barely benefits anyone.

Again, maybe the group has matured so much that people don't need those childish yarns about jobs, housing, driving, visa, credit, travel, etc and are now more focused on the big British talk

Regex:
Omo... My own will expire in December. I deh find new iptv provider... You fit suggest the best? Cause I wasn't able to watch the champion league on this one.

@Reges and Lexusgs430. How do I go about this. Abeg make una send me a private message

@Oga Lexusgs430 and others. Please I need your response

elengine:
Good
afternoon house. As the premier league is now around the corner. I want to avoid missing any action at all. Pls I need the link to IPTV and guidance on how to go about it. Please help

Good afternoon house. As the premier league is now around the corner. I want to avoid missing any action at all. Pls I need the link to IPTV and guidance on how to go about it. Please help

nduk56:
Kumbhuru go and start your driving lessons as you are wasting valuable time. No one owes you anything.
P.S stop replying yourself rock86. It is very corny brother man.

E don cast😃😃😃😃

I have been out of this Platform since April and no one asked after me. Na so I no popular reach. Wetin I go do to make me popular. Abi make insult the elder ones like Lexusgs430 whether people go know me😂

Anyway, this one wey oyinbo don enter us now. Shey we no go cast for some things here before BBC go know say one group for nairaland dey. Asking fora friend

Temmythayor005:
Hi Fam,
Good evening.
Please I need insights as to how to land accounting roles interviews.

I am currently on a graduate visa due to expire December 2025. I have 7 years experience in the accounting world in Nigeria. And I have been working for more than one year with a charity organisation (paid volunteer) here in UK.
However, practically all my applications have been met with unfortunately feedback.

Your contributions to atleast land an interview will be highly appreciated.

Thank you.

Your chance is limited if you are not a qualified accountant. However, whether you are qualified or not, you need an opportunity to gain work experience. So please target Interim accounting role or a contract role. It is easier to get an interim role either to fill in a role due to maternity or sickness and build your exposure and work experience. Once you have 6 months in real accounting world, then employer will trust you

I can start my comedy career with you. I'm funny die oh😀😀. How much do you want to pay?

Please who has more detailed experience about zero deposit here. Senior tenants or retired tenants. Landlords or senior owner of land

Cyberknight:
I dont think its illegal. 6 May is almost here?

The important thing is that they can't conduct viewings of the property without your consent, so they might ask you if will agree for them to bring potential tenants to view the place at times you find convenient. You can say no if you like. But if you and the landlord have got along well, then if they ask, see if you can make concessions to them, for the sake of goodwill, even if you don't need a reference from them.

Thank you for your response.
They had already requested for access for viewing . I might just grant them one of the 2 days requested. Thanks

Happy Sunday everyone. My rent will expire by May 6 and I gave a notice to my landlord on March 7. Now this man has come to display 'a to rent' signpost in front of my house. My question- is this legal even though I have not moved out.

Peerielass:
Where exactly are you going to in Czechia? EasyJet and Ryan Air have direct flights from Manchester to Prague.

I'm going to Brno.

Good day everyone. Please I need your guidance on the issue below:

I want to travel to Czech Republic from UK but there is no direct flight from Manchester. So we ve resolved to go through Vienna, then follow train to Czech Republic and follow same route when return.

My question is: which visa should I apply for? Is it Vienna or Czech Republic.

Thanking you all in advance.