₦airaland Forum

Ugmama:
Okay thanks for your response.
I will just save in it to buy house after that I am done.

Gurus well done chairmen and ladies.

I intend to buy my house with my spouse by 2026 latest.
If I open the LISA ACCT today for me and my spouse and deposit £4k each. And also deposit 4k each by April 5 2026, are we gonna get the £4k pounds incentive after April 6th 2026 in total.
I shall keep in touch

Yes, but bear in mind that you can only withdraw after 1 year of account opening.

SapphireFort:
Yes, but bear in mind that you can only withdraw after 1 year of account opening.

Okay thank you.

Done

Pls is there an account number assigned on LISA account? I don’t seem to find one yet.

.

Is there any risk in buying a repossessed house?
The property is in very good condition and ticks all the boxes for what we're looking for.

Controlv:
Is there any risk in buying a repossessed house?
The property is in very good condition and ticks all the boxes for what we're looking for.

Is the property going through auction........

Lexusgs430:
Is the property going through auction........

No. It was advertised on rightmove by a local estates agent.

Controlv:
No. It was advertised on rightmove by a local estates agent.

You would need to do extra work & completion deadlines could be short. It might constitute a good bargain, because lender wants their money out.... So thread with caution.......

Is it possible for someone to pull out of buying a property? All searches has been completed and both solicitors have agreed. Waiting on the lender to complete mortgage offer as valuation was just made on the property awaiting feedback.

What if at this stage, someone finds a better property for the same price. Is it okay to pull out? And what can be lost if one pulls out?

NewT123:
Is it possible for someone to pull out of buying a property? All searches has been completed and both solicitors have agreed. Waiting on the lender to complete mortgage offer as valuation was just made on the property awaiting feedback.

What if at this stage, someone finds a better property for the same price. Is it okay to pull out? And what can be lost if one pulls out?

As long as you have not exchanged contracts you can pull out at any time without penalty. The only thing lost is what you have spent so far and possibly solicitors fee.

deept:
As long as you have not exchanged contracts you can pull out at any time without penalty. The only thing lost is what you have spent so far and possibly solicitors fee.

Thanks

This tread has been helpful. Completed and got my key today. 3 years in the UK and buying as a solo buyer -feeling over the moon. Now I can opt back to my pension.

I have completed and got my keys earlier this month. I went for an old build and got my mortgage with Barclays bank with 10% deposit. My interest rate was 4.46% when Bank of England interest rate was 4.25% and I fixed it for 5 years tenure. Thanks to everyone for answering questions and for the words of encouragement.

Madeu:
This tread has been helpful. Completed and got my key today. 3 years in the UK and buying as a solo buyer -feeling over the moon. Now I can opt back to my pension.

Congratulations....... 🎊🎉💐

Ogonsbaba:
I have completed and got my keys earlier this month. I went for an old build and got my mortgage with Barclays bank with 10% deposit. My interest rate was 4.46% when Bank of England interest rate was 4.25% and I fixed it for 5 years tenure. Thanks to everyone for answering questions and for the words of encouragement.

In this youkay, anything is possible.... Just be determined & aim at your targets appropriately, with right tools and knowledge...... 😁🤣

Congratulations..... 💐🎊🎉

Madeu:
This tread has been helpful. Completed and got my key today. 3 years in the UK and buying as a solo buyer -feeling over the moon. Now I can opt back to my pension.

Congratulations......

Madeu:
This tread has been helpful. Completed and got my key today. 3 years in the UK and buying as a solo buyer -feeling over the moon. Now I can opt back to my pension.

Hehe.. congrats.
Go find person mk una two chop the benefits.

Ogonsbaba:
I have completed and got my keys earlier this month. I went for an old build and got my mortgage with Barclays bank with 10% deposit. My interest rate was 4.46% when Bank of England interest rate was 4.25% and I fixed it for 5 years tenure. Thanks to everyone for answering questions and for the words of encouragement.

Congrats.
Landlords don dey plenty

Thank you all for your advice and contributions. We got a review of our rate to 4.25 and we got our keys today! 😊

All glory to God!

AnonymousAdmin:
Thank you all for your suggestions and advice on this tread. We finally got successful email on contract exchange after we made our deposit payment. Now waiting for completion slated for October and an extention till December max.
Got a 4.52 rate @ 5 fixed from Barclays.

Please advise is needed on the following:
1.When should we start the Building insurance process?
2. What should we avoid to make sure our offer is not rescinded prior to completion?
3. What are the things look out for on completion and when collecting keys.

Thank you so much for all your contributions.

Lexusgs430:
Congratulations....... 🎊🎉💐

Thanks for emphasising that Rent money is Dead money.

jedisco:
Hehe.. congrats.
Go find person mk una two chop the benefits.

Hahaha. Very soon.

Please our landlords and experienced people here,

What do we look out for to know a house that would appreciate in value in the near future?
No question is a stupid one according to my tutors 😁

Hi guys, I really need some help here. My husband and I are buying a property and we put down 15% deposit which is in our LISA over the years. My husband recently joined my AJO group in June and used his main bank account to receive the deposits. I honestly had no idea that it could cause a big issue. We were nearly closing in on the deal when one of the conveyancers noticed it in his statement and they decided to stop acting on our behalf because it is too high risk. Please can someone here share sample documents that they have used for due diligence for these AJO cases in their own sale contract so we can present to them or our subsequent lawyers. TIA

AnonymousAdmin:
Thank you all for your advice and contributions. We got a review of our rate to 4.25 and we got our keys today! 😊

All glory to God!

Big congratulations to you!

What constitute a review in your case ?
Was there need for resubmission of required documents or it's just the MA doing their thing and asking Barclays for a review?

DubbieLala:
Hi guys, I really need some help here. My husband and I are buying a property and we put down 15% deposit which is in our LISA over the years. My husband recently joined my AJO group in June and used his main bank account to receive the deposits. I honestly had no idea that it could cause a big issue. We were nearly closing in on the deal when one of the conveyancers noticed it in his statement and they decided to stop acting on our behalf because it is too high risk. Please can someone here share sample documents that they have used for due diligence for these AJO cases in their own sale contract so we can present to them or our subsequent lawyers. TIA

According to the popular parlance "you go explain explain tire, no evidence"
On a serious note, Some solicitors are in tune with this Ajo or contribution arrangements. My advice would be to shop for another solicitor and make them aware upfront that you have this in your statement and allow them make the decision to either take up your case or reject it . I have folks who used same and was clearly referenced as contribution in their statements. It's a bridge, you will soon cross it. Good luck!

DubbieLala:
Hi guys, I really need some help here. My husband and I are buying a property and we put down 15% deposit which is in our LISA over the years. My husband recently joined my AJO group in June and used his main bank account to receive the deposits. I honestly had no idea that it could cause a big issue. We were nearly closing in on the deal when one of the conveyancers noticed it in his statement and they decided to stop acting on our behalf because it is too high risk. Please can someone here share sample documents that they have used for due diligence for these AJO cases in their own sale contract so we can present to them or our subsequent lawyers. TIA

Just show deposits where your husband made his own transfers towards his monthly contribution and explain what Ajo is. Its not borrowed funds, it's literally a type of saving, however not done through the bank or financial institution.
Your solicitor should be fine with that, they just want to ensure the funds are legit and yours.

Ugmama:
Please our landlords and experienced people here,

What do we look out for to know a house that would appreciate in value in the near future?
No question is a stupid one according to my tutors 😁

Very simple.... Do a Google search for historical sales data, on the property you intend to purchase........

If it's a new build, use the area as your reference point.....