₦airaland Forum

Ogonsbaba:
Please, did you get 4.35% with 5% or 10% deposit?.
And how were you able to check the rates for a much lower rate by yourself please??

4.35% with 10% deposit , someone suggested money supermarket.com to check for rates. And I don’t think deposit has any effect on rates.

Deposit has effect on rates. If your LTV is 95%, then you would be restricted to a few lenders and their rates may be as high as 6.9%. So the more deposit you have the better the rate until you get to a threshold. By the way, the 4 3% is a good rate. I have 4.81% and I thought it was the best.

Not a bad deal.

Got the same figure last week on a 10% but didn't lock down as the offer hadn't been accepted. Checked with another broker this week and the best rate was 4.8%.

Hoping things would have improved when I'm eventually ready.

PrettyPacy:
4.35% with 10% deposit , someone suggested money supermarket.com to check for rates. And I don’t think deposit has any effect on rates.

lightnlife:
Not a bad deal.

Got the same figure last week on a 10% but didn't lock down as the offer hadn't been accepted. Checked with another broker this week and the best rate was 4.8%.

Hoping things would have improved when I'm eventually ready.

Do these rate providers take into consideration ones status in the UK (i.e visa or ILR holders) to make these offers?

Quick question please. Why is the interest rate after the fixed rate is always higher? Does it mean people pay higher rate after their fixed rate has ended. Someone should throw more light on this.

I don't think so. The rates applies to all regardless of residency status. However, your status might affect your access or otherwise of the rate.

For instance, some lenders won't offer any deal to residents on visa except you have 15% deposit. With that amount of deposit you would get the same interest rate as a Brit.

I recently heard your status could also determine the term the lender is willing to offer.

fetomowo:
Do these rate providers take into consideration ones status in the UK (i.e visa or ILR holders) to make these offers?

I assume you're referring to Standard Variable Rate (SVR). If so, see the attached image.

By the way, you don't have to pay the SVR. You can shop for new mortgage deals six months before your current term lapses.

elengine:
Quick question please. Why is the interest rate after the fixed rate is always higher? Does it mean people pay higher rate after their fixed rate has ended. Someone should throw more light on this.

lightnlife:
I assume you're referring to Standard Variable Rate (SVR). If so, see the attached image.

By the way, you don't have to pay the SVR. You can shop for new mortgage deals six months before your current term lapses.

Thank you for this.

What does this mean everyone?

Thank you for your recent mortgage application
We can confirm this application is now closed.

It could mean anything. Best to speak with the bank or broker.

My initial thought is that there was a duplicate application and one has been closed. Don't take my words, just check with the bank.

PrettyPacy:
What does this mean everyone?

Thank you for your recent mortgage application
We can confirm this application is now closed.

lightnlife:
It could mean anything. Best to speak with the bank or broker.

My initial thought is that there was a duplicate application and one has been closed. Don't take my words, just check with the bank.

It has been confirmed there was a duplicate application.
Thank you

Good day to you all!!
We are almost at the level of exchange of contracts. Is this the right time to get insurance?

If yes, any clue on how to get a good insurance deal?

Thank you

solveabode:
Good day to you all!!
We are almost at the level of exchange of contracts. Is this the right time to get insurance?

If yes, any clue on how to get a good insurance deal?

Thank you

Good day to you too. If you know the date of exchange, visit moneysupermarket.com or comparethemarket.com to compare home insurance rates. Once you find the most suitable option, set the start date to match your completion date. The sooner the better.

A very good read/watch, if you're considering buying a leasehold property......

https://www.bbc.com/news/articles/c3e8x0084x5o

kwakudtraveller:
Good day to you too. If you know the date of exchange, visit moneysupermarket.com or comparethemarket.com to compare home insurance rates. Once you find the most suitable option, set the start date to match your completion date. The sooner the better.

OK thanks.

Also, would it be alright for me to request from my solicitor, all the responses of the enquiries (the property search)?

solveabode:
OK thanks.

Also, would it be alright for me to request from my solicitor, all the responses of the enquiries (the property search)?

Yes, it’s okay to request for it if it hasn’t been shared with you. Ideally, they are supposed to share this alongside other necessary documents.

If affordability is not an issue, is there any possible way a married individual can exclude his/her partner in the mortgage? And in such situation, does the other partner have to be involved if the property need to be sold in future?

EJIOGBENIMI:
If affordability is not an issue, is there any possible way a married individual can exclude his/her partner in the mortgage? And in such situation, does the other partner have to be involved if the property need to be sold in future?

Your married spouse has the right to make a claim against the property in the event of a divorce or separation irrespective of whether their name is on the mortgage or not. I don’t know if that answers your question but it’s something to consider.

EJIOGBENIMI:
If affordability is not an issue, is there any possible way a married individual can exclude his/her partner in the mortgage? And in such situation, does the other partner have to be involved if the property need to be sold in future?

If that house is deemed a family home, the starting point in times of financial dispute starts at 50/50.......

Both would now have to argue positions, in front of a judge.....

This is why I advocate financial inclusion, rather than exclusion.......

Another banger from Badenoch - https://www.dailymail.co.uk/news/article-14133089/Our-country-sustain-numbers-seen-Kemi-Badenoch-vows-annual-cap-immigration-admits-Tories-failed-curb-inflows-predicts-new-figures-tomorrow-lower.html

Lots of 'fresh' ideas and tough talk. You'd almost think that she's an activist campaigner who has never held a political office before.

Goodenoch:
Another banger from Badenoch - https://www.dailymail.co.uk/news/article-14133089/Our-country-sustain-numbers-seen-Kemi-Badenoch-vows-annual-cap-immigration-admits-Tories-failed-curb-inflows-predicts-new-figures-tomorrow-lower.html

Lots of 'fresh' ideas and tough talk. You'd almost think that she's an activist campaigner who has never held a political office before.

Wrong thread

Solumtoya:
Wrong thread

Ah yes. My mistake. 👍🏿

Hello everyone. So my broker got me a building only insurance quote for 57 pounds per month.I got 24 pounds per month via compare go. Then I remember that it could be cheaper with my car insurance provider. So I tried admiral and I was given 20 pounds per annum. The reason I guess is because I have two cars insured with them.

Currently I pay 199 pounds for two cars and having added building insurance , I would now be paying 208k. This includes content, emergency repairs. It is still doing me like a magic. My question is, do people pay as low as this. If not so I can get more clarity from them and be sure the cover is for building.

I am waiting for the policy update on the app so I can verify it is actually true.

Thanks.

elengine:
Hello everyone. So my broker got me a building only insurance quote for 57 pounds per month.I got 24 pounds per month via compare go. Then I remember that it could be cheaper with my car insurance provider. So I tried admiral and I was given 20 pounds per annum. The reason I guess is because I have two cars insured with them.

Currently I pay 199 pounds for two cars and having added building insurance , I would now be paying 208k. This includes content, emergency repairs. It is still doing me like a magic. My question is, do people pay as low as this. If not so I can get more clarity from them and be sure the cover is for building.

I am waiting for the policy update on the app so I can verify it is actually true.

Thanks.

I currently pay £420 per annum for 2 vehicles + £180 building and content insurance...... 😁
(fully comprehensive), on both vehicles...... 😎
I also have extra insurance for all my white goods, TV etc etc...... The TV in my bedroom, developed a white thin vertical line last week, I phoned D&G, technician visited today, wrote TV off today ..... Getting a free replacement next week..... 😊

For all white goods, TV cover etc etc , I pay about £75 extra pcm..... 😁 (Got my Double fridge & freezer + washing machine replaced already).... 😁

Lexusgs430:
I currently pay £420 per annum for 2 vehicles + £180 building and content insurance...... 😁
(fully comprehensive), on both vehicles...... 😎
I also have extra insurance for all my white goods, TV etc etc...... The TV in my bedroom, developed a white thin vertical line last week, I phoned D&G, technician visited today, wrote TV off today ..... Getting a free replacement next week..... 😊

For all white goods, TV cover etc etc , I pay about £75 extra pcm..... 😁 (Got my Double fridge & freezer + washing machine replaced already).... 😁

Wow. This is interesting. So the content insurance is really worth it because anything may happen.

So from the above, I can see that the ridiculously low premium I will be paying😆 for building and content insurance is more like a compensation for the relatively high premiums on my car insurance.

Thank you Oga Lexus. I know your NCD is what seperates you from the boys like me. I am less than 2 years in UK and I guess that rate is probably one of the best😆 for people at my level but when this expires next year, I would be hard on them cos my aim will be to cut it by half.

elengine:
Wow. This is interesting. So the content insurance is really worth it because anything may happen.

So from the above, I can see that the ridiculously low premium I will be paying😆 for building and content insurance is more like a compensation for the relatively high premiums on my car insurance.

Thank you Oga Lexus. I know your NCD is what seperates you from the boys like me. I am less than 2 years in UK and I guess that rate is probably one of the best😆 for people at my level but when this expires next year, I would be hard on them cos my aim will be to cut it by half.

The content insurance is good, incase you are broken into or certain devices go faulty......

But you can also take a separate cover, via domestic general to cover all your electronic goods...... Even my cordless hoover is protected (I have also received 2 free
replacement cordless hoovers)...... I don't joke with insurance policies...... 😁😂

elengine:
Hello everyone. So my broker got me a building only insurance quote for 57 pounds per month.I got 24 pounds per month via compare go. Then I remember that it could be cheaper with my car insurance provider. So I tried admiral and I was given 20 pounds per annum. The reason I guess is because I have two cars insured with them.

Currently I pay 199 pounds for two cars and having added building insurance , I would now be paying 208k. This includes content, emergency repairs. It is still doing me like a magic. My question is, do people pay as low as this. If not so I can get more clarity from them and be sure the cover is for building.

I am waiting for the policy update on the app so I can verify it is actually true.

Thanks.

I got £14 for building insurance but used DG for white goods. I think am going to consolidate all my insurance next year. Lexus post has highlighted how important these thing are. Got my washing machine fixed last year on insurance, I for put my foot down make them change am.lol

Lexusgs430:
The content insurance is good, incase you are broken into or certain devices go faulty......

But you can also take a separate cover, via domestic general to cover all your electronic goods...... Even my cordless hoover is protected (I have also received 2 free
replacement cordless hoovers)...... I don't joke with insurance policies...... 😁😂

Won’t the claims increase your premium?

Santa2:
I got £14 for building insurance but used DG for white goods. I think am going to consolidate all my insurance next year. Lexus post has highlighted how important these thing are. Got my washing machine fixed last year on insurance, I for put my foot down make them change am.lol

I also got about the same amount for building and content but I’m not entirely sure my white goods are covered, I know my work electronics isn’t covered. In fact make I go read the policy document this morning.

kwakudtraveller:
Won’t the claims increase your premium?

The reason I would not use content home insurance, for certain claims..... 🏡😂

But have a bespoke policy, for certain electrical/electronic devices...... 😎

Infact, after this recent TV claim, my policy is now much cheaper (on the new TV)..... 😂📺

Good day to you all.
Please I need an urgent response.
Our completion date is December 3rd but interest rate gas gone down since I got tje mortgate offer.
I asked my broker about the going rate, this was her response:
"it may be too close to the date of completion to change this over".

I'm yet to reply her cos I felt if the rate was high, the lender would find it easy to change it.
Please I need your advice.

solveabode:
Good day to you all.
Please I need an urgent response.
Our completion date is December 3rd but interest rate gas gone down since I got tje mortgate offer.
I asked my broker about the going rate, this was her response:
"it may be too close to the date of completion to change this over".

I'm yet to reply her cos I felt if the rate was high, the lender would find it easy to change it.
Please I need your advice.

Our rate was changed the same day our broker applied. It was on a Monday or Tuesday and completion was due for Friday (didn't go though that day but for different reasons).