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Nairaland Forum / Nairaland / General / Travel / Living In The UK: Property,Mortgage And Related (52169 Views)
Getting Into The UK Property Market. How To? Teach Us How To? Get In Here / Living In The Uk/life As A UK Immigrant / Living In Australia/life As An Australian Immigrant (2) (3) (4)
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Re: Living In The UK: Property,Mortgage And Related by Bourne007(m): 9:36am On Jan 27 |
Of course there are no issues. Just that if you have the keys, what difference will it make. If I remember correctly, you will also need to activate your new address with royal mail so it's officially recognised. specialenvoy: |
Re: Living In The UK: Property,Mortgage And Related by profemebee(m): 2:18pm On Jan 27 |
that's new to me.. never done that before,.. is that really a thing? Bourne007: |
Re: Living In The UK: Property,Mortgage And Related by twizzie: 11:53pm On Jan 27 |
Check this out.https://www.nuliving.co.uk/beechwood/ Just about 30mins to Fenchurch Str from Basildon profemebee: |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 8:04am On Jan 28 |
Pearlyfaze: Oshey!!! would act on this info...all these developers in south east just dey strong face.lol |
Re: Living In The UK: Property,Mortgage And Related by profemebee(m): 2:28pm On Jan 28 |
thanks, will check it out and the transport cost to London twizzie: |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 8:24pm On Jan 29 |
Pearlyfaze: Thanks for this info..also came across someone who was given 5%, flooring and kitchen upgrade, I plan to take this up with the developers we are speaking. Hopefully we come out fruitful. We no gree for anybody this year 1 Like |
Re: Living In The UK: Property,Mortgage And Related by missjekyll: 8:00am On Jan 31 |
Hi people, How do I determine how much to offer on a house. I want to offer just enough to look serious but I don't want to give up the whole farm on an initial offer. Thanks in advance |
Re: Living In The UK: Property,Mortgage And Related by Solumtoya: 2:04pm On Jan 31 |
missjekyll: I was gonna try and respond but chatgpt put it better: "When determining your initial offer on a house, research comparable property sales in the area, assess the property's condition, and consider market trends. Aim for a competitive but reasonable offer, leaving room for negotiation. You can express your seriousness by presenting a well-documented offer and expressing genuine interest without revealing your maximum budget upfront." I use rightmove to find out prices of similar recent houses sale in the area and price accordingly 2 Likes |
Re: Living In The UK: Property,Mortgage And Related by twizzie: 5:50pm On Jan 31 |
@Ticha @lexusg @Solumtuya, what other cost should one expect asides the below? This was gotten from L&C as an estimate. This will be less stamp duty as cost is below 450k. As it's a new build, asides snagging charges, what else please can we look out for? 1 Like
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Re: Living In The UK: Property,Mortgage And Related by JBoy9(m): 9:03pm On Jan 31 |
Hello My Elders, Please I need your candid advice and opinions. Firstly, I just packed an Esusu of £6,000. I intend to build this up to a more reasonable amount for deposit to get on the ladder. However, I understand Banks or Mortgage Lenders don’t understand the dynamics of Esusu and I might get disqualified if I can’t explain the source of the funds. Please how can I plough this into my deposit? I’m looking at saving up more (at least £10,000) and evidencing it from my monthly income till I signify an interest to buy a property towards the end of this year but I’m also afraid I might be asked to provide one year bank statements. NB I lost weight working day and night to meet up with the thrift and I don’t want to spend a dime from it to embark on vacation to Florida this summer as Madam is suggesting 😂 (Baby let’s just take about £1,500 and take the kids to Disneyland. We’ll raise it back together) Secondly I’ll be 44 this year. Please does that mean I’m no longer eligible to take advantage of LISA or ISA? Can I go for moneybox please? Lastly, please what other advise would you give a JJC like me with regards to getting on this hard-to-get-on ladder to heaven? semmyk Solumtoya Lexusgs430 Zahra29 |
Re: Living In The UK: Property,Mortgage And Related by Lexusgs430: 10:34pm On Jan 31 |
JBoy9: Unfortunately, you're 4 years out of the reach of LISA....... 😂 Just highlight inflow from other members, to proof collective contributions ......... Nah dere way o...... Lock that money in an account, very far from madam........ 😜😂 To invest on the financial markets, you need to have a long term view, your investment might rise or plummet.......😂😜 Just put funds in a savings account, your interest would be minimal, but you want to preserve your capital...... Have a look at the housing market, see ranges of prices, to gauge your financial commitments....... I would say, a cash reserve of about £25/£30K (depending on location), would put you in a much better position...... 6 Likes |
Re: Living In The UK: Property,Mortgage And Related by JBoy9(m): 4:19am On Feb 01 |
Lexusgs430: Thanks my boss. I was expecting your sarcasm as well 😂 Price range within my locality is about £120k £250k. I’m gunning for something in between £120-£150k. New build preferably. The Esusu were paid in multiples of £300 so someone said it shouldn’t be a red flag as long as it’s not up to £500 per inflow Financial market is a no no for me at the moment. Please do I need to start talking to a mortgage advisor or wait till I’m almost there financially? Please could you recommend a bank that’s FTB friendly ? Almost 3years in the youkay |
Re: Living In The UK: Property,Mortgage And Related by Lexusgs430: 4:45am On Feb 01 |
JBoy9: This sarcasm, don catch fire for UK thread ......... People don almost curse my unborn generation o.......😁 Let's assume you're paying a deposit of 10%, on a property of £150K (£15K deposit)....... Other logistical cost + initial furnishing = £10K....... When you're about 40 days from hitting this target, start seeking mortgage offer in principle......... All mortgage provider's are almost the same, it's the rate & terms that's on the table, that's the koko....... Hope you're building your credit history........ 3 Likes 1 Share |
Re: Living In The UK: Property,Mortgage And Related by Regex: 8:01am On Feb 01 |
Lexusgs430: No gree anybody take your sarcasm away... Life no suppose deh too serious. |
Re: Living In The UK: Property,Mortgage And Related by Kunleop: 9:36am On Feb 01 |
Good morning, pls for peoples that used money box/ISA account for their house. What type of product can i choose as i want pay in money before the tax year end and im using it towards my 1st home. Can i fund the account with full £4k without direct debit. Kindly assist. @lexusgs430 @solumtoya @zahra29
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Re: Living In The UK: Property,Mortgage And Related by profemebee(m): 10:15am On Feb 01 |
i guess we don't have much negotiating power or leverage if it is a new build These developers don't agree especially as they already provide incentives Solumtoya: |
Re: Living In The UK: Property,Mortgage And Related by profemebee(m): 10:19am On Feb 01 |
lol.. £1,500 will barely take you to Disneyland and back with kids ooo Yeaa i heard they don't understand the concept of Esusu and some mortgage lenders will even not pass you during pre-qualification.. a mortgage broker can advise better.. JBoy9: |
Re: Living In The UK: Property,Mortgage And Related by profemebee(m): 10:20am On Feb 01 |
New build? 120k-150k? where ooo? I don't know how feasible that is.. JBoy9: |
Re: Living In The UK: Property,Mortgage And Related by twizzie: 9:25pm On Feb 01 |
Any one able to respond to this please? twizzie: |
Re: Living In The UK: Property,Mortgage And Related by Lexusgs430: 11:25pm On Feb 01 |
profemebee: Head to Disneyland in Paris then...... Disneyland nah Disneyland o........... 😜🤣 |
Re: Living In The UK: Property,Mortgage And Related by Ticha: 1:49pm On Feb 02 |
twizzie: Been away for awhile. All the important costs are there apart from a survey. That varies - banks will sometimes pay for a basic one. If you want a detailed one then budget £500-£700 1 Like |
Re: Living In The UK: Property,Mortgage And Related by twizzie: 7:41pm On Feb 03 |
Thank you for taking time to respond, as we are looking at a new build, do we still need the survey? Ticha: |
Re: Living In The UK: Property,Mortgage And Related by Ticha: 8:13pm On Feb 03 |
twizzie: Ah no you don't |
Re: Living In The UK: Property,Mortgage And Related by profemebee(m): 8:34pm On Feb 03 |
I hear about this.. no need for Level2 or 3 survey if it is new build... Is it because the house is new and under the NHBC 10years warranty? I was thinking at least Level 2 Snagging report survey if it is a new build.. Ticha: |
Re: Living In The UK: Property,Mortgage And Related by ToyosiR(f): 11:38am On Feb 05 |
Hi All, To look for mortgage, What should your credit score look like? Must you have a credit card? |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 9:58pm On Feb 05 |
I am considering getting a Town house (3 floors) , as it has more space/rooms as against a 2 floors home (one storey), at same price point . But I understand that when it come to reselling it might be more difficult to sell off. This is going to be our first purchase, I know somewhere in the future we would move to our forever home, am hoping before the 10 year NHBC expires. So I definitely would need to sell at some point but I just wanted to find out if anyone has experience with selling off town houses or pro/cons of living in them. |
Re: Living In The UK: Property,Mortgage And Related by twizzie: 11:54am On Feb 06 |
Thanks. @Ticha. What would you advise based on experience and recent trends(which I know can't be predicted) 2 years fixed at 5.29% or 5 years at 4.84%? [quote au [/quote] |
Re: Living In The UK: Property,Mortgage And Related by Solumtoya: 2:52pm On Feb 06 |
Santa2: Townhouses are great, they have their pros and cons. I chose a Townhouse for the same reason: more space. The whole selling off thing doesn't bother me so much, I actually hope I don't have to sell it even when I move, I'd rather just rent it out and add to my portfolio. They have several other pros: better heating, better separation of rooms (no visitor can wander into the top floor unless told to), better view from the top, etc. The disadvantage is obviously the stairs. More stairs means more cleaning, more stress, more room for accidents especially with toddlers and elderly. I love the stairs as it helps with fitness. Another downside is that the loft will be much smaller typically. 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Estroller: 3:46pm On Feb 06 |
ToyosiR: You can get a mortgage with any credit score, but how competitive your interest rate is will depend on your credit profile/history and not necessarily your credit score. So I'll focus more on the latter than the former. 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 3:54pm On Feb 06 |
Solumtoya: Great Insight. You actually highlight some advantage I had not considered. 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 3:57pm On Feb 06 |
ukay2: Sent you a DM |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 4:48pm On Feb 06 |
Solumtoya: @Solumtoya Did you go with the solicitors recommended by the developers or you sourced yours yourself? If you got your solicitor yourself? What did you look out for in getting it. Need to get a conveyance but I dont want to go with the developer recommended. Currently going through comparison sites but I would have preferred one from someone with positive experience. |
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