₦airaland Forum

Santa2:
I do not have experience with car but I will ask; Have you done an HPI Check?
You could use totalcarcheck (dot) co (dot) uk used to be about £8.99 or £14.99 for their premium package, 3 checks I believe.

Here is a checklist someone posted some time ago on this forum

Buying a car

- Ensure during your test drive, upon set off, the automatic gearbox is not jerky
- Check the spare tyre well, is dry.
- Check the rear mats area is dry
- Ensure no bangs and knocks from suspension is observed
- Check MOT history from government website
- Conduct an HPI vehicle check
- Check that AC is blowing cold......

NB: Some of this checklist, was specific to the Honda Jazz ......🤣

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

profemebee:
hi hi,

what a great set of intelligent and resourceful minds..

I already feel like I own a home lol

For each of us that help out with answers and support, may thy wishes and prayers be answered too...

I will have questions from time to time..

1.This building and life insurance that is tied to mortgage... is it the same as the normal life insurance we all know?

- No. You need to have building insurance when you have a mortgage to protect your lenders investment and afterwards, to protect your asset.....

2. What if one already has life insurance before doing mortgage? will one need to do another for the mortgage?

- If you have LI during the term of your mortgage, when one kicks the bucket, hopefully the eventual payout, would clear the mortgage + small change.......

3. Do I need to go thru a real estate agent to kick-start or i can just start looking for a good home i'm interested in?

- Best to go through an agent, the buying process in the UK is fully structured and processed.....

4. What if i use a real estate agent but i like a house that isn't on sale by that real estate agent? Can i still use their mortgage advisor?

- You can use any estate agent or broker, the choice is yours......

missjekyll:
Taylor Wimpey have got your freehold now. Once they sell the last house in the estate, they ll sell your freehold to a third party that won't be you.

I would steer clear of these leaseholds , to be honest

ukay2:
Good I did 2 years with Halifax....hopefully we shall get < 3% or 3.5% after 2 years....

missjekyll:
Gosh. At least 3 typos in this. AXA budget no longer covers secretaries?

Sorry , I m a bit of a grammar nazi

deept:
Give with one hand and take with the other. Elections are coming

deept:
I wouldn't hold my breath for this one. Kill the cash cow?

deept:
What is the planned/proposed legislation on leasehold?

AlakeOfEngland:
I need to be serious about our mantra of, "RENT MONEY IS DEAD MONEY" this year mbok. Has anyone heard of Tembo Money? They said they could guarantee professionals mortgages of 5.5/6x of salary if one uses them but at £499. Is it worth it and who has used them? @Ticha @Lexusgs430 @semmyk

bigtt76:
Thank you for what you do and congratulations on your new house.

My questions are as follows

1. Do you think an apartment in Leeds is worth going for? I work in the north together with my hubby
2. Do you think a house of £379k (semi-detached Leasehold) is worth going for on a combined income of £4.6k monthly?
3. The service charges is £988.00 per annum - is this ideal?
4. Property developer also noted that they are compelled to give up ownership to a third party in the future ....how does this affect me?

AlakeOfEngland:
I need to be serious about our mantra of, "RENT MONEY IS DEAD MONEY" this year mbok. Has anyone heard of Tembo Money? They said they could guarantee professionals mortgages of 5.5/6x of salary if one uses them but at £499. Is it worth it and who has used them? @Ticha @Lexusgs430 @semmyk

jedisco:
It depends on where u are and your outlook.

In parts of many cities, flats (many of which are leaseholds) are the only realistic option hence its boils down to the fine detail. With some, you could have a share of the freehold which is better.

Mine is detached but that would be more difficult for a FTB in large cities. For flats it's different. Lots of horror stories around leashold and flats haven't done as well over the last few years partly cos folks are more averse to restrictive leaseholds, cultural want of a garden and supply stock as flats are 'almost unlimited'. This was not a consideration I had to make due to my location and moreso with the horror stories about leaseholds. All things being equal I'd go freehold over leaseholds (keyword: equal)

My advice would be to utilise your ISA (including LISA). If not looking to buy within 3 yrs, an index fund in a S&S Lisa should likely bring more return than a cash one.

Also when you come to buy, if you can look to push yourself and make the most use of the 450k stampduty treshold for first time buyers.

You can rent one or two rooms out to a lodger and almost guarantee £7500 tax free pa in rent with much less hassle that comes with tenancies.

With property, time in the market is essential. My main regret is not buyjng 2-3yrs ago

eniola1010:
Is there no "nigerian way" we can use to get the claim proof without "burning" ones finger or do the uk insurance company verify how legit the claim proof docs submitted are?

Tier4Dependant:
But the boy na just 16yrs old na……. Wahala

Tier4Dependant:
Normally genuine third party insurance na ₦5k na