₦airaland Forum

TheOnly123:
Hello Everyone, I need help o. I got a new job at Exeter but I currently leave in Northampton and the distance is just massive and expensive by bus and train. I'm to go for induction for 4 days Monday to Thursday and then work from home afterwards and then I would settle down and get an apartment in that area.

So if there is anyone in that area exeter, Plymouth or anywhere around where I can manage for this days, I'll be extremely happy. I've checked hotels around those areas it's about £60-£90 per night.

Anyone have any suggestion or advice?

olaness:
Guidance needed, our Ancients! Securing accommodation has really been a great challenge for my husband and I. We are a family of four. His school is in Bradford.
Now my uncle is strongly suggesting we stay in Manchester and my husband who is the student takes the train to Bradford to attend classes. A little more than an hour journey. My uncle has in-laws in Manchester who are already working on getting accommodation for us in Manchester.

Our concerns are:
* The accommodation is a room in a shared flat. (rem, we are a family of four) they say it's doable.
* Manchester is more expensive than Bradford and living costs and childcare are likely to be more expensive too.
* Are there informal arrangements for childcare that will be much cheaper, as this is what my uncle is suggesting?
* If we get airbnb in Bradford for 20 days, are we likely to secure an apartment before the end of the 20 days stay?
* We would really have preferred to be in Bradford, but they are saying that we are going to experience more racism there especially as there are more Pakistanis and Indians there, so finding work will be a challenge.

What can we do please? We need all the guidance and advice we can get. Especially as we are relocating with our kids and want the best option possible.

TheOnly123:
Hello Everyone, I need help o. I got a new job at Exeter but I currently leave in Northampton and the distance is just massive and expensive by bus and train. I'm to go for induction for 4 days Monday to Thursday and then work from home afterwards and then I would settle down and get an apartment in that area.

So if there is anyone in that area exeter, Plymouth or anywhere around where I can manage for this days, I'll be extremely happy. I've checked hotels around those areas it's about £60-£90 per night.

Anyone have any suggestion or advice?

TheOnly123:
Hello Everyone, I need help o. I got a new job at Exeter but I currently leave in Northampton and the distance is just massive and expensive by bus and train. I'm to go for induction for 4 days Monday to Thursday and then work from home afterwards and then I would settle down and get an apartment in that area.

So if there is anyone in that area exeter, Plymouth or anywhere around where I can manage for this days, I'll be extremely happy. I've checked hotels around those areas it's about £60-£90 per night.

Anyone have any suggestion or advice?

Glamorouspat1:
Finally I have finished reading page 1 to 722. Chai it wasn't easy. Please I have a question. So my friend will finish her master in October, but husband that is a dependant as gotten a job that is ready to give him COS, please are they suppose to apply for work visa directly with her changing to his dependant. Is this possible since they are on a student visa tier 4, and it is yet to expire.

I will.be waiting for your replies. Thank you

baykeylala1008:
Hello guys plz I hope u remember my case I posted few days ago, but now I've managed to get my refusal and I discovered it was a "BAN" plz what's the way out....

Josh121:
Can someone on tier 4 visa get into this property business , will be ready to put down 25%

baykeylala1008:
Hello guys plz I hope u remember my case I posted few days ago, but now I've managed to get my refusal and I discovered it was a "BAN" plz what's the way out....

What year was this - paper-based applications ended in 2013 or so - and what documents did your agent give you to submit, and were they made up?

Ticha:
Yes totally. Some banks like Paragon will even lend at 20% deposit for a BTL.
If you don't own any at all yet, then a 10% deposit will be accepted too. However the higher your deposit, the quicker it is to leverage

Bluetherapy:
You've said valuable information.
What's your take about Leasehold flat? I'm thinking of starting off with a flat as it seems to be the easiest to even rent out. However the whole story about leasehold and it's shortcomings is really scary.

baykeylala1008:
Hello guys plz I hope u remember my case I posted few days ago, but now I've managed to get my refusal and I discovered it was a "BAN" plz what's the way out....

What year was this - paper-based applications ended in 2013 or so - and what documents did your agent give you to submit, and were they made up?

EddieMurphie:
People have chopped ban and they served it. 10 years isn’t a long time.

omopapa:
Have you tried Airbnb in that area?

wonlasewonimi:
Airbnb??

deept:
Spare room.com

dustydee:
Please what is the Covid 19 process for travelling to Nigeria? Any links?

Ticha:
Using our latest family home purchase as an example - we bought a 5 bedroom, 1 bathroom, 1 garage semi-detached in 2017 for £225k. We put down a 15% (£35k)deposit as we were buying as a family home. Interest was 2.18% so monthly payments just under £700pcm.

We then spent £55k (cash reserves) on the renovations. It included taking it back to brick internally, putting new windows (was single glazed), central heating, kitchen, re-wiring, created a 2nd bathroom by splitting the garage, carpeted it throughout. It took 5 weeks because we know people in the industry and also had somewhere else to stay so weren't living in a building site. Remember we have 3 children (they were 3, 1.5 and 1.5 then) so we're a family of 5.

All completed - we had spent £90k cash to include the deposit upfront luckily the money came from the sale of our previous family home. Let's imagine that we did it on a budget we would have needed at least a 10% deposit (£22.5k) and another £15k min for a cosmetic renovation (central heating, double glazing, new bathroom, and kitchen) and if we were living in it then it'd be a room by room reno - taking longer and most likely costing more. That's by the by. Our total expectation was that the value would be at least £300k. As it's now a 5 bedroom, 2 bathroom house. If we had taken a bridging loan for the £55k for 6 weeks, interest wold be around 8%, application fees about £1,500, broker fees around £500.

We then left the UK, asked for consent to let and put it in Airbnb for 1 year and did make quite a substantial amount of money from that because it can sleep upto 12 people. CTL was granted for the duration of the rest of our fixed period so 5 years and we were expressly told at the end of that, we would have to revert to a BTL mortgage. CTL cost £199 and we have to re-apply annually.

In 2019, we broke the fix and refixed it for 2 years at 1.8%. The bank did a valuation and the value came back at £265k. Remember adding all our costs means we need it to be £315k to break even. Anyway refixed and rented it out properly. Tenant was paying £980pcm. Mortgage was now just over £600 a month but a repayment mortgage. Meant we could square away £280 ish a month (agent fees and commission is 10%) Luckily, we're not working in the UK now so no tax but if we were working in the UK then £980 - expenses = whatever is left is liable for tax.
That tenant left Dec 2020 and we spent about £5k tarting it up for the new tenant. New tenant is now paying £1250pcm. The mortgage is still just over £600 pcm and it's repayment.

Now 2021 - we have overpaid that we now owe about £150k on the house. So have equity of about £100k. We are remortaging to refix again and take some money out to buy a house in Glasgow. First and foremost, we have to come off the CTL cos we want to leverage the existing equity. It means higher interest rates however it also means lower payments because we will move to an interest only mortgage.

The house is now valued at £290k 4 years later. We must leave a 25% equity in it and have a 25% deposit for the Glasgow house (Looking at max £80k (£20k deposit). It means we need £75k as deposit for the existing house and £20k for Glasgow. The equity just about covers it. Mainly because it's a cheaper house. Much more cheaper. Then we need solicitors fees, stamp duty (2nd home so 3% of purchase price), survey fees, application fees (all BTLs charge it) and the house must be in walk in condition otherwise we need reno costs so maybe another £5k/6k ish. Our new re-fix is for 5 years at 1.3% and interest only so our payments will around £360 ish a month. Remember the rent is £1250pcm. Then iya Charlie takes her cut re tax.

Now compare that to the very first house we bought in the UK in 2010. 2 bedroom leasehold flat - paid £105k in Bristol. It's now worth almost £300k. When we rented it out in 2012, the tenant was paying £280pcm. The current tenant is paying £650pcm and we've almost paid off that mortgage. 11 years. property is a long game.

Recycling cash out of property is the way to go however it pays to know exactly what you're letting yourself in for. Buy right and hold. Property is a long term game. You buy and sit on it and you make the gains. We haven't had to front up a cash deposit in a long time.

You want to go into property? Ignore all those property gurus on YouTube.
Do not pay for any training courses! Join a PIN (Property Investor Network) group in your area - they usually meet monthly and network.
Join Property Tribes.
There are some useful UK property groups on FB.
Get clued up on financing property.
Find a very good broker and lastly, have a source of income no matter how little.

Property goes through lean and good times. In 2015, 2 of ours were empty at the same time, one with extensive pet damage. It's also incredibly hard to remove a tenant. You have to go through the courts and in the meantime, they can stop paying rent. It currently takes at least 14 months to remove a tenant through the court system.

But it is by far the best investments we have done. So my advice? Do it but with eyes wide open.

Zimzee:
Hello guys, is psychology a lucrative course to study for masters in UK?

RalphJean:
https://nitp.ncdc.gov.ng/onboarding/homepage

Ticha:
Using our latest family home purchase as an example - we bought a 5 bedroom, 1 bathroom, 1 garage semi-detached in 2017 for £225k. We put down a 15% (£35k)deposit as we were buying as a family home. Interest was 2.18% so monthly payments just under £700pcm.

We then spent £55k (cash reserves) on the renovations. It included taking it back to brick internally, putting new windows (was single glazed), central heating, kitchen, re-wiring, created a 2nd bathroom by splitting the garage, carpeted it throughout. It took 5 weeks because we know people in the industry and also had somewhere else to stay so weren't living in a building site. Remember we have 3 children (they were 3, 1.5 and 1.5 then) so we're a family of 5.

All completed - we had spent £90k cash to include the deposit upfront luckily the money came from the sale of our previous family home. Let's imagine that we did it on a budget we would have needed at least a 10% deposit (£22.5k) and another £15k min for a cosmetic renovation (central heating, double glazing, new bathroom, and kitchen) and if we were living in it then it'd be a room by room reno - taking longer and most likely costing more. That's by the by. Our total expectation was that the value would be at least £300k. As it's now a 5 bedroom, 2 bathroom house. If we had taken a bridging loan for the £55k for 6 weeks, interest wold be around 8%, application fees about £1,500, broker fees around £500.

We then left the UK, asked for consent to let and put it in Airbnb for 1 year and did make quite a substantial amount of money from that because it can sleep upto 12 people. CTL was granted for the duration of the rest of our fixed period so 5 years and we were expressly told at the end of that, we would have to revert to a BTL mortgage. CTL cost £199 and we have to re-apply annually.

In 2019, we broke the fix and refixed it for 2 years at 1.8%. The bank did a valuation and the value came back at £265k. Remember adding all our costs means we need it to be £315k to break even. Anyway refixed and rented it out properly. Tenant was paying £980pcm. Mortgage was now just over £600 a month but a repayment mortgage. Meant we could square away £280 ish a month (agent fees and commission is 10%) Luckily, we're not working in the UK now so no tax but if we were working in the UK then £980 - expenses = whatever is left is liable for tax.
That tenant left Dec 2020 and we spent about £5k tarting it up for the new tenant. New tenant is now paying £1250pcm. The mortgage is still just over £600 pcm and it's repayment.

Now 2021 - we have overpaid that we now owe about £150k on the house. So have equity of about £100k. We are remortaging to refix again and take some money out to buy a house in Glasgow. First and foremost, we have to come off the CTL cos we want to leverage the existing equity. It means higher interest rates however it also means lower payments because we will move to an interest only mortgage.

The house is now valued at £290k 4 years later. We must leave a 25% equity in it and have a 25% deposit for the Glasgow house (Looking at max £80k (£20k deposit). It means we need £75k as deposit for the existing house and £20k for Glasgow. The equity just about covers it. Mainly because it's a cheaper house. Much more cheaper. Then we need solicitors fees, stamp duty (2nd home so 3% of purchase price), survey fees, application fees (all BTLs charge it) and the house must be in walk in condition otherwise we need reno costs so maybe another £5k/6k ish. Our new re-fix is for 5 years at 1.3% and interest only so our payments will around £360 ish a month. Remember the rent is £1250pcm. Then iya Charlie takes her cut re tax.

Now compare that to the very first house we bought in the UK in 2010. 2 bedroom leasehold flat - paid £105k in Bristol. It's now worth almost £300k. When we rented it out in 2012, the tenant was paying £280pcm. The current tenant is paying £650pcm and we've almost paid off that mortgage. 11 years. property is a long game.

Recycling cash out of property is the way to go however it pays to know exactly what you're letting yourself in for. Buy right and hold. Property is a long term game. You buy and sit on it and you make the gains. We haven't had to front up a cash deposit in a long time.

You want to go into property? Ignore all those property gurus on YouTube.
Do not pay for any training courses! Join a PIN (Property Investor Network) group in your area - they usually meet monthly and network.
Join Property Tribes.
There are some useful UK property groups on FB.
Get clued up on financing property.
Find a very good broker and lastly, have a source of income no matter how little.

Property goes through lean and good times. In 2015, 2 of ours were empty at the same time, one with extensive pet damage. It's also incredibly hard to remove a tenant. You have to go through the courts and in the meantime, they can stop paying rent. It currently takes at least 14 months to remove a tenant through the court system.

But it is by far the best investments we have done. So my advice? Do it but with eyes wide open.

CheesyTee:
It’s under the skill shortage list.

With 2.1 in BSc or MSc Psychology (Conversion) and registration with British Psychological Society, you get MBPsS and Graduate Basis for Chartered membership position and get to work as an assistant Psychologist earning at Band 4 or 5.

You can then proceed for PhD or a professional doctorate to be HCPC registered as clinical psychologist, health psychologist, counseling psychologist etc (depends on the specialization) and earn at band 7.

So yes, it’s lucrative but the question is, are you passionate about the course?

RalphJean:
https://nitp.ncdc.gov.ng/onboarding/homepage

Adewumi2888:
Thank you for this reply. I have Msc psychology from UI already. can I apply for British Psychological Society to get MBPsS and Graduate Basis for Chartered membership. i will be coming October

CheesyTee:
Yes. I have been able to register successfully with BPS from Nigeria and I was given both MBPsS and GBC.

You will only need to upload your BSc and MSc. transcripts and certificate and make payment of £27 for application and £67 for registration (if your last
Degree is not up to 5yrs).