Solumtoya:


You should have so many options. A lot actually, you just have to be creative with your search. Eg. Kent, Luton, etc.

If you don't mind spending a little more on transport, you can even check Milton Keynes.

With 400k, you can get a lot in the above mentioned areas.

Some people go as far as Bedford, Northampton, Rugby, Peterborough and other "Commuter Towns" as they're called. In these, 350k will get you a mansion, lool. You'd be in London in an hour but you'll spend like £40 to £60 daily on transport.

Estroller:


For the commute, the Midlands, you'll be spoilt for choice, don't know about the transport cost though.

Ticha:


Email me and I'll send you my London spreadsheet. It details all the towns and cities within a 90 minute commute into the London mainline stations. We ended up living in St Neots. You will have to increase your transport cost but that can be offset with the house buying costs.

Zahra29:


You're married to a citizen plus you have a very good household income - you have more options ,for example you should be able to access a 5% deposit mortgage which under the govt scheme covers houses up to £600k. Speak to a whole of market broker...

profemebee:
thanks Ticha

I tried to email you but i'm not sure how it works on Nairaland.. pls did you get any email from me?

I also checked St.Neots but the house had a lake nearby and i wasn't sure.. this is re-assuring, thanks

We don't have a car as we live in London, but will eventually have when we leave London... do you think not having a car initially will be a struggle in St.Neots?

profemebee:
thanks for this..

will speak with one today, but is the govt scheme a public fund scheme? just asking

The Mortgage advisor i earlier spoke with advised we go for 10% deposit as it makes our monthly mortgage payment cheaper

Ticha:


There will be flood map of areas near bodies of water so you can check to see what the flooding probabilities are, ask if there's been flooding in the last 25 years and the solicitor should do the same as well as point out flooding risks if there are any. Plus that's what we have house insurance for - to cover all those things that we cannot always fully account for.

You don't need a car in St Neots. Everywhere is walkable and there are regular buses to Cambridge, Bedford, MK and Oxford - the Oxford bus dey take forever sha.

Zahra29:


Not public funds, it's just a guarantee by the government to give lenders the confidence to reinstate 95% loans as most were withdrawn during the COVID crisis. Most lenders have stricter residence requirements and other eligibility criteria for their 95pc loans, which you should qualify for.

10% deposit is cheaper if you have this. However play around with some online monthly calculators as you might find that the difference in monthly repayments is minimal, and the extra 5% can be added to your outlay for the house purchase, refurbishments etc. or used as cash savings. You can also opt to overpay once you get the mortgage to increase your equity.

Just wanted to add that if you're looking at commuting towns around London, perhaps also have a look at Surrey and/or Sussex e.g. Coulsdon, Purley, South Croydon etc. Approx 20- 30 mins to mainline London stations and you can use your oyster card, or you can go further out e.g. Horley, Horsham, Guildford etc which have direct trains to London in 40 mins or less. There are lovely, family friendly areas, great schools in these towns, some can be quite expensive but you should be able to find something very decent in your price range.

gergemam:
Hello People,

Please is it possible to secure a house without not touching my LISA for now.

I currently have a deposit of 10K quid, house is going for 55K on Market but I am currently bidding at 50K waiting to hear from the Landlord as communicated by the Real Estate Agent and 40K will be on Mortgage.

Which platform can I use to secure Mortgage

I am FTB

gergemam:
Hello People,

Please is it possible to secure a house without not touching my LISA for now.

I currently have a deposit of 10K quid, house is going for 55K on Market but I am currently bidding at 50K waiting to hear from the Landlord as communicated by the Real Estate Agent and 40K will be on Mortgage.

Which platform can I use to secure Mortgage

I am FTB

Estroller:


Yes, you don't have to use it. But bear in mind that you will not be able to use it for the purpose of buying a house again because you will no longer be a first time buyer.

Speak with a mortgage broker.

Lexusgs430:


Why don't you want to touch LISA..... Lisa wouid not be happy with you ó..... 😜

Are you buying from auction........


Some cheap properties dey outskirts o .... 😂

Houses from £40K..... Houses are still cheap in the UK o...... But are they in places, we want to live........ 😂😏

gergemam:


Not Auction 😞

The Price as shown by the Agent Online is 55K quid and new build around the area is from 100K quid.

Daddy no go there oooooo... 🥺🥺🥺

gergemam:


Thanks Boss... I never too get money inside an like that.

Please if you know or have any mortgage broker. Kindly share

semmyk:
Placeholder 5
_______________
[Mortgage Brokers]
{Vouch Level: 0 - 10] Depends on the number of mentions, references, feedback,s testimonies ...} PS: Vouch level is not an endorsement!
1. Moneybox - @Tshoboy | unverified | Vouch level: 1 | app | [url]moneyboxapp.com/[/url]
2. Mojo - @SemmyK | unverified | Vouch level: 0 | online | https://mojomortgages.com/
3. London & Country L&C - @Ticha| unverified| Vouch level: 2 | online | www.landc.co.uk/
4. Haysto - shaybebaby| unverified | Vouch level: 1 | online , hybrid | https://haysto.com/
5. Strike (previously Housesimple) - SeyeJohn94| unverified | Vouch lovely: 0 | online, email | https://strike.co.uk
6. Cascade mortgage solutions -@Rapitex | unverified | Vouch level: 1 | phone, physical | http://cascadems.co.uk/
7.
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Solumtoya:


Please what location is this? I need to check it out

And no LISA isn't compulsory at all.

specialenvoy:
Just a quick one, do one need to change the locks to the doors of a new build on completion?

gergemam:


Teesside, Cleveland, (Northeast)

Example:
https://www.pattinson.co.uk/property?id=430605

Lexusgs430:



Be careful when buying auction properties...... For starters, you wouldn't get a conventional mortgage and ensure you read and fully understand the buyer's pack........

Viruses:


Another option is to buy a 3 bedroom house for yourself (not BTL), stay in one room and rent out two rooms. As family expands, you reclaim more rooms. This will help you avoid some of the pitfalls Ticha pointed out.

The money you're bringing from Nigeria should be in your account like one year before. While you'll be asked for 6 months statement, further inquire/explanation may require statements from previous months which will reveal the deposit from Nigeria if it's not further back in the statement. Explanation of the deposit from Nigeria will make you reveal you had a property (what other explanation would you give), this will make you loose your first home buyer's status and will then require you to pay stamp duty which is at least 5% of purchase price. This will be around £12,500 if the house is £250,000 . All the money you bring in from Nigeria don pass stamp duty go be that 😀

Lexusgs430:



Be careful when buying auction properties...... For starters, you wouldn't get a conventional mortgage and ensure you read and fully understand the buyer's pack........

gergemam:
Lexusgs430

Them say dem know fit sell the house for me oooo cos the property is for someone that's 55 Years and above. 😭😭😭

Which kind criteria be that. Though the house nah Two Bedroom Bungalow.

UK and yeye ruling

Lexusgs430:



Nah retirement house be that .........😁😄

The importance of employing a conveyancing solicitor, if you are not legally minded (or have the time to read the pack)........

gergemam:


I no kuku see anywhere whey dem write 55 years above. 😔😔

Ogonsbaba:
Hi, I'm I still eligible for the bonus £1000 in my Lifetime ISA if I fund my account with £4000 on 1st April, 2024?

And is there any maximum number of years one can fund Lifetime ISA account and still be eligible for the bonus £1000 as I intend to fund £4000 each year for 5 years?

Walexwal:


Yes, you will be eligible as the tax year ends on the 5th of April. Also, I think one can continue to fund their LISA until a person turns 50.