₦airaland Forum

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 😁

As Lexusgs430 said, historical sales data is one.
I use houseprices.io . It's a good resource to quickly compare historical data.

Secondly, what investment is being done there. I dont mean stuff planned in the unknown future. I know of a town that saw a 20% jump in prices partly due to a nuclear plant being built close by.

Third is transport connections and proximity to major hubs such as London, Manchester e.t.c

Then you have unique stuff like schools e.t.c.

That said, for many parts, prices reflect prevailing market realities. Areas which are cheap are less priced for a reason and manytimes remain that way unless something fundamental changes. So when you see a 'cheap' place ask yourself why it is cheap and if it really offers value.

All said, if looking for a place to live, I'd be more focused on stuff that personally brings value to me not just what house prices might do

jedisco:
As Lexusgs430 said, historical sales data is one.
I use houseprices.io . It's a good resource to quickly compare historical data.

Secondly, what investment is being done there. I dont mean stuff planned in the unknown future. I know of a town that saw a 20% jump in prices partly due to a nuclear plant being built close by.

Third is transport connections and proximity to major hubs such as London, Manchester e.t.c

Then you have unique stuff like schools e.t.c.

That said, for many parts, prices reflect prevailing market realities. Areas which are cheap are less priced for a reason and manytimes remain that way unless something fundamental changes. So when you see a 'cheap' place ask yourself why it is cheap and if it really offers value.

All said, if looking for a place to live, I'd be more focused on stuff that personally bring value to me not just what house prices might do

Well said. I have lived in London and I don’t fancy it anymore. I need a quiet area, so I intend to move North and I want to stay close to hospital. Any house that gives me nice serene, proximity to key areas like train, church, mall, school is my take.

Ugmama:
Well said. I have lived in London and I don’t fancy it anymore. I need a quiet area, so I intend to move North and I want to stay close to hospital. Any house that gives me nice serene, proximity to key areas like train, church, mall, school is my take.

You'd get that in many places all over. Key question would be what place is suited to you.

Please guys, I need Whatsapp group link for Nigerians living in Uk

Keys Alert!!!

We collected our keys fews weeks back. Still feels like a dream - semi new built, 9 years old property, Northwest England 😊😊😊

I want to specially thank @lexus for all encouragements these past few years, from advise on family, stocks investment and property.

Giving a stranger you met here direct access to you and taking your time to always pick my phone calls and wahala😁😁😁😁

We are young immigrants and being here 3 years 5 months (from student to work visa)

We used moneybox LISA and got interest of over 7k which boosted our deposit to 16 percent.

As my oga Lexus always say, the money from shift work does not smell shit.

Whatever your story here is, just be encouraged and keep pushing

In the midst of these immigration brouhaha, ensure you live your best possible life and enjoy every moment.

Take risk, make investments and congratulations to you for making that decision to buy that property anyway 😁👏👏👍💪

NB: I remember my oga lexus posting something like this last year, I subscribed to 3 investment platforms he shared, I sold one out of panic 😁😁😁(Blackrock, lost some money during the Trump market crash) and kept two. This one not doing so bad 😀😀😀

Bukad:
Keys Alert!!!

We collected our keys fews weeks back. Still feels like a dream - semi new built, 9 years old property, Northwest England 😊😊😊

I want to specially thank @lexus for all encouragements these past few years, from advise on family, stocks investment and property.

Giving a stranger you met here direct access to you and taking your time to always pick my phone calls and wahala😁😁😁😁

We are young immigrants and being here 3 years 5 months (from student to work visa)

We used moneybox LISA and got interest of over 7k which boosted our deposit to 16 percent.

As my oga Lexus always say, the money from shift work does not smell shit.

Whatever your story here is, just be encouraged and keep pushing

In the midst of these immigration brouhaha, ensure you live your best possible life and enjoy every moment.

Take risk, make investments and congratulations to you for making that decision to buy that property anyway 😁👏👏👍💪

NB: I remember my oga lexus posting something like this last year, I subscribed to 3 investment platforms he shared, I sold one out of panic 😁😁😁(Blackrock, lost some money during the Trump market crash) and kept two. This one not doing so bad 😀😀😀

When people are running away from the stock market, you should be running towards it...... The market would always recover, if you buy right....... 😉😂

A floating loss, is better than an outright loss.... When you sell in a negative position, that's an outright loss...... 😂

omoluka:
Please guys, I need Whatsapp group link for Nigerians living in Uk

Join the NIUK or NIDO platform......

Bukad:
Keys Alert!!!

We collected our keys fews weeks back. Still feels like a dream - semi new built, 9 years old property, Northwest England 😊😊😊

I want to specially thank @lexus for all encouragements these past few years, from advise on family, stocks investment and property.

Giving a stranger you met here direct access to you and taking your time to always pick my phone calls and wahala😁😁😁😁

We are young immigrants and being here 3 years 5 months (from student to work visa)

We used moneybox LISA and got interest of over 7k which boosted our deposit to 16 percent.

As my oga Lexus always say, the money from shift work does not smell shit.

Whatever your story here is, just be encouraged and keep pushing

In the midst of these immigration brouhaha, ensure you live your best possible life and enjoy every moment.

Take risk, make investments and congratulations to you for making that decision to buy that property anyway 😁👏👏👍💪

NB: I remember my oga lexus posting something like this last year, I subscribed to 3 investment platforms he shared, I sold one out of panic 😁😁😁(Blackrock, lost some money during the Trump market crash) and kept two. This one not doing so bad 😀😀😀

Congratulations.....more celebrations

Lexusgs430:
When people are running away from the stock market, you should be running towards it...... The market would always recover, if you buy right....... 😉😂

A floating loss, is better than an outright loss.... When you sell in a negative position, that's an outright loss...... 😂

Just started SIPP account with Freetrade....the thing make sense....I was able to buy individual USA stocks I like like in my LISA and S&S ISA...

After maxing out LISA and Stock & Shares ISA...any other funds goes to SIPP

Make the govt credit my 20% contribution to SIPP, and I will claim the remaining 20% via self-assessment account...

I do not like that the govt will tax me the total SIPP portfolio after 25% tax free withdrawal...the govt should only tax the funds contributed and not the SIPP account profits....lol

ukay2:
Just started SIPP account with Freetrade....the thing make sense....I was able to buy individual USA stocks I like like in my LISA and S&S ISA...

After maxing out LISA and Stock & Shares ISA...any other funds goes to SIPP

Make the govt credit my 20% contribution to SIPP, and I will claim the remaining 20% via self-assessment account...

I do not like that the govt will tax me the total SIPP portfolio after 25% tax free withdrawal...the govt should only tax the funds contributed and not the SIPP account profits....lol

Why I hate Freetrade's SIPP account, is that annual charge.......

If only Investengine offered individual shares too and it was free (like their etf's)..... That would be the ultimate winning formula....... 🤣😂

You and the government are gambling colleagues, and they want their share of your loot....... 😊😂

Lexusgs430:
Why I hate Freetrade's SIPP account, is that annual charge.......

If only Investengine offered individual shares too and it was free (like their etf's)..... That would be the ultimate winning formula....... 🤣😂

You and the government are gambling colleagues, and they want their share of your loot....... 😊😂

Annual charge of £109 is ok for me as I like buying individual stocks and not ETFs....

It's the sharing of the loots I no come like at all.... I will always max out my ISAs before SIPP anywhere.

ukay2:
Annual charge of £109 is ok for me as I like buying individual stocks and not ETFs....

It's the sharing of the loots I no come like at all.... I will always max out my ISAs before SIPP anywhere.

If investengine can offer free SIPP accounts, what excuse does Freetrade have......... 🤣😂

Imagine if I put my Freetrade annual charges, into a mutual fund on Freetrade....... I am an Ijebu man, biko..... 🤣😂

ukay2:
Just started SIPP account with Freetrade....the thing make sense....I was able to buy individual USA stocks I like like in my LISA and S&S ISA...

After maxing out LISA and Stock & Shares ISA...any other funds goes to SIPP

Make the govt credit my 20% contribution to SIPP, and I will claim the remaining 20% via self-assessment account...

I do not like that the govt will tax me the total SIPP portfolio after 25% tax free withdrawal...the govt should only tax the funds contributed and not the SIPP account profits....lol

Personally I won’t do those that will tax me 25% of my money. I rather save myself and access my money when I need it. But for mortgage I prefer LISA

ukay2:
Just started SIPP account with Freetrade....the thing make sense....I was able to buy individual USA stocks I like like in my LISA and S&S ISA...

After maxing out LISA and Stock & Shares ISA...any other funds goes to SIPP

Make the govt credit my 20% contribution to SIPP, and I will claim the remaining 20% via self-assessment account...

I do not like that the govt will tax me the total SIPP portfolio after 25% tax free withdrawal...the govt should only tax the funds contributed and not the SIPP account profits....lol

It's a close call but for retirement, SIPP might come out better or at least equal for most especially higher rate tax payers.

The main difference being ISAs are after tax and SIPP before tax.
A 20k contribution to your SIPP would only cost you 12k as a higher rate. If the contribution is made via ones Ltd co, you dont have the personal tax rebates but it counted as an expense before corporation tax.
True one would pay tax when they come to withdraw (after the lump sum) but it would usually be at a much lower rate than they'd have paid in their working days.
ISAs are easily accessible which is a huge bonus. Many end up using their ISA to bridge early retirement or augment later retirement.

I personally pushed heavy into my ISAs earlier on but looking back, I feel I should have had an even split.

jedisco:
It's a close call but for retirement, SIPP might come out better or at least equal for most especially higher rate tax payers.

The main difference being ISAs are after tax and SIPP before tax.
A 20k contribution to your SIPP would only cost you 12k as a higher rate. If the contribution is made via ones Ltd co, you dont have the personal tax rebates but it counted as an expense before corporation tax.
True one would pay tax when they come to withdraw (after the lump sum) but it would usually be at a much lower rate than they'd have paid in their working days.
ISAs are easily accessible which is a huge bonus. Many end up using their ISA to bridge early retirement or augment later retirement.

I personally pushed heavy into my ISAs earlier on but looking back, I feel I should have had an even split.

Few questions please:

1.How do I contribute to SIPP through Ltd co, will the Ltd coy receive the 20% tax relief and another 20% tax relief from HMRC? I don't have Ltd coy though...

2. Will govt not tax me 40% at withdrawal as a higher tax payer if I use my personal account for the SIPP.. remember I have NHS pension to withdraw too which will shoot me back to 40% tax bracket as income from the total pension withdrawals . What rate will the government tax me?

3. If I invest the £20k (£12k my real contribution though) in Google in my SIPP and in 20 years time the investment becomes £100k... I withdraw £25k tax free and then start to share the remaining £75k with the govt at 40% tax unlike me owning the entire £100k with ISA account without any govt chooking eyes.

ukay2:
Few questions please:

1.How do I contribute to SIPP through Ltd co, will the Ltd coy receive the 20% tax relief and another 20% tax relief from HMRC? I don't have Ltd coy though...

2. Will govt not tax me 40% at withdrawal as a higher tax payer if I use my personal account for the SIPP.. remember I have NHS pension to withdraw too which will shoot me back to 40% tax bracket as income from the total pension withdrawals . What rate will the government tax me?

3. If I invest the £20k (£12k my real contribution though) in Google in my SIPP and in 20 years time the investment becomes £100k... I withdraw £25k tax free and then start to share the remaining £75k with the govt at 40% tax unlike me owning the entire £100k with ISA account without any govt chooking eyes.

1. With a ltd co, you don't get the tax relief.
However, pension contributions are considered a business expense so you deduct the cost before paying corporation tax. If not made, you'd pay corporation tax on the money at rates of about 20% and then income or dividend tax on that sum before it becomes yours (depending on how you want to take it out). What I used to do was catch up with my accountant before my company end of year was due and they'd estimate how much corporation tax I may be due to pay. I then determine if its worth making an extra pension contribution. Also the only limit here is the 60k annual pension limit whereas with a personal SIPP contribution, you cannot add more than your taxable income in a given year. So a ltd co director with 20k taxable income can contribute 50k via their ltd co into their SIPP. If it was a personal contribution, the max would be 20k. The good thing is that you can contribute both personally and via your ltd co in same year.


2. It's impossible to estimate what the tax brackets would be when you come to retire but we can use todays rates. It's very unlikely your income in retirement would match your working income
Also, the current NHS pension is only accessible (with certain exceptions) without penalty at state retirement age. So if you want to keep working fulltime till 67 (likely 70 with time), then it's less of an issue. But if you choose to retire earlier, then robust options are needed. Unlike your NHS pension, you can access you SIPP earlier at 57. Lets say you choose to retire at 60. That leaves you with 7 years before you start drawing your NHS pension. Drawing down on your ISA and SIPP here would help you bridge that gap. Your taxable income would most likely remain in the basic rate.

See it this way: Lets say you need 35k pa after tax to live in retirement. It might not seem huge but remember that most would have paid off their mortgage at this point or at least use the tax-free part of their pension to do so.
You could take 10k from your ISA (tax free), 12.5k from the taxfree part of your pension and 12.5k from the taxable part of your pension (which would still be tax free as it's within the tax free allowance). So in essense thats 35k pa tax free. Even when your NHS and state pension kick in later, your tax bracket would most likely be 20%. The 'generous' pension system is one of the ways the UK really shines.

3. There's a lot of speculation with individual picks. I tend to veer off them in especially with my SIPP. But I see your worry. Also had same concerns too and but after years of maxing my ISA, it became clear as I understood the UK tax system that I should also look more towards my pension. From the examples above, you can see it's not as straightforward. You'd need to be living extra extra large to be paying 40% in retirement. I'm talking incomes of well over 100k not 50k. Some people even transfer most their ISA to their SIPP before retirement to get the tax rebate.
Another consideration- as a higher rate payer, the The 20k in your pension costs you 12k. The 20k in your ISA would definitely cost you more than 24k initially (remember you'd have paid 40% on the income first).

ISAs are sweet. But for retirement, not many products beat a pension. ISAs to me are good as they are offer good flexibility even before retirement. One can also use them to bridge the period before accessing a SIPP if they want to retire or cut down before 57.

Ultimately, I see these options as tools. Its better to ones quiver full so that say 5-10 yrs before retirement, they can sit down with a financial advisor and start making plans.

Talking about things we could have done differently- another was keenly paying down my mortgage.
I did that to the tune of 20k before I stopped. My thinking was that since my interest rate then was above 5%, I'd be better off paying down my mortgage rather than paying the bank more interest at that rate. I stopped when interest rates dropped below 4.7% as something about it just didn't click. Also, I was getting better returns elsewhere. I thought I did my reasearch but I had only considered how much interest I wouldn't pay and not the opportunity cost of the additional paydown. (i.e what advantage having that money free could bring)

It finally hit me when I was scrapping to get a BTL, I began to ask myself why I overpaid.

It wasn't after a while I stumbled on this video and wished I saw it earlier. It's another example how the general wisdom might not always be the best. Good channel by the way. Strongly recommend.


https://www.youtube.com/watch?v=L4sy1f8Q4YA

jedisco:
Talking about things we could have done differently- another was keenly paying down my mortgage.
I did that to the tune of 20k before I stopped. My thinking was that since my interest rate then was above 5%, I'd be better off paying down my mortgage rather than paying the bank more interest at that rate. I stopped when interest rates dropped below 4.7% as something about it just didn't click. Also, I was getting better returns elsewhere. I thought I did my reasearch but I had only considered how much interest I wouldn't pay not the opportunity cost of the additional paydown. (i.e what advantage having that money free could bring)

It finally hit me when I was scrapping to get a BTL, I began to ask myself why I overpaid.

It wasn't after a while I stumbled on this video and wished I saw it earlier. It's another example how the general wisdom might not always be the best. Good channel by the way. Strongly recommend


https://www.youtube.com/watch?v=L4sy1f8Q4YA

James Shack. One of the Youtubers who God used to shape my financial knowledge in the UK.

On Over-paying mortgage, I don't now, it depends on risk appetite which is also dependent on one's age, etc.

Solumtoya:
James Shack. One of the Youtubers who God used to shape my financial knowledge in the UK.

On Over-paying mortgage, I don't now, it depends on risk appetite which is also dependent on one's age, etc.

He is about my best. He does bring experience and a nuance to many things.

Ultimately, the main point is there are many things to consider flexibility being one of them. It's not just pay down and reduce it to Bleep years.

Wow!
Glad to be here
Rent money?
(Echoes) dead money!
Dead money?
(Echoes) rent money!!!

Just an observations, both the ghost mood readers and active followers, please I kindly ask that you add some details when sharing your journey to securing your keys... it not only inspires and motivates the upcoming but it also shows you indeed appreciates the vital guidance you enjoyed.
How can you just type "finally got our keys today after the long wait, many thanks to everyone that advised us, it was helpfu"
Really?
Anyways don't get me wrong, you are far better than those that won't say a word, not even a thank you message - ghost mode readers!

I just want to say, I wanna begin my journey today, open a Lisa account for myself and partner and possibly use AJO as channel to speed up the process...in addition to the little savings we have at the moment.

Can one set ups the moneybox account now without funding immediately due to awaiting AJO collection in January but just to kick start the one year rule, I mean start counting or must there be accompanying payment lump sum or monthly while setting up?

Please for a FTC, what is the current threshold amount to escape SDTL? Also what's the price limit of a building (old or new) an FTC could buy voa LISA?
Is it £425k or £300k... is this correct? This would obviously hinder FTC to buy houses in SE England with the prices I see flying around.

Please can the gurus respond accordingly

Meanwhile as per the whole pension contributions calculations plus investment in stocks and shares, well, i just dey read dey go without understanding in full details, what can i do?...oga jedisco & Co... take note!

Let me save today's date
Oya make una continue una good-generous acts, it doesnt go unnoticed - @Ticha@Lexus@Solumtoya@ukay2@Jedisco@skemmy etc

oluwaleokey:
Wow!
Glad to be here
Rent money?
(Echoes) dead money!
Dead money?
(Echoes) rent money!!!
....

Let me save today's date
Oya make una continue una good-generous acts, it doesnt go unnoticed - @Ticha@Lexus@Solumtoya@ukay2@Jedisco@skemmy etc

Not a guru, but this is what I can tell you:

threshold for SDL was reduced to 300K this year fot FTB.

Ajo may create issues for you when solicitors run AML checks on your bank account.

Currently ISA earn bonus max 1k a year for max 4k added each year. There are age restrictions.

Shares and stock ISA riskier than cash ISA as it mirrors stock market performance.

All the best

oluwaleokey:
I just want to say, I wanna begin my journey today, open a Lisa account for myself and partner and possibly use AJO as channel to speed up the process...in addition to the little savings we have at the moment.

Can one set ups the moneybox account now without funding immediately due to awaiting AJO collection in January but just to kick start the one year rule, I mean start counting or must there be accompanying payment lump sum or monthly while setting up?

Please for a FTC, what is the current threshold amount to escape SDTL? Also what's the price limit of a building (old or new) an FTC could buy voa LISA?
Is it £425k or £300k... is this correct? This would obviously hinder FTC to buy houses in SE England with the prices I see flying around.

Kudos on starting.
You can set up a Moneybox LISA account and put a token in there say £10 to get the clock counting for you. You don't need to pay in monthly.

I've never appreciated the allure of Ajo especially for someone in the UK. The risks are too much. What happens if someone dies, defaults, gets deported or moves countries? What if one of the contributors is involved in fraud and using proceeds to contribute thereby creating a financial link? Moreso, no interest is paid on the money being held. You can do your own Ajo by investing a fixed montly sum in a S&S ISA. Even if you decide not to buy st0cks, you still get some interest on uninvested sums.
If your Ajo is already running, then you want to bring your pack into your account at least 3-6 months before your mortgage application as that's the cut-off most lenders use when asking for account details. That way, you save yourself the hassle of undue explanation.

SDLT is hardly an issue for a FTB. Even if you're buying a house above the zero-band threshold i.e 300k. You only pay stamp duty on the sum above the limit. So if the house is 350k, you only pay 5% stamp duty on 50k. So there's hardly any advantage of buying a cheaper house for the sole purpose of escaping stamp duty
https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

It's worth confirming what the current LISA treshold is. I know some londoners ran into issues as they couldn't use their LISA for a purchase. You could review the prices of houses you want and can afford to buy and decide if you'd be under the treshold or if you're better off in a S&S ISA.

Pension contribution stuff is meatier but becomes more understandable with time. Once you've clicked thru ISAs, then you can start thinking SIPPs and weighing pros and cons and the best way to contribute based on your circumstance.

jedisco:
1. With a ltd co, you don't get the tax relief.
However, pension contributions are considered a business expense so you deduct the cost before paying corporation tax. If not made, you'd pay corporation tax on the money at rates of about 20% and then income or dividend tax on that sum before it becomes yours (depending on how you want to take it out). What I used to do was catch up with my accountant before my company end of year was due and they'd estimate how much corporation tax I may be due to pay. I then determine if its worth making an extra pension contribution. Also the only limit here is the 60k annual pension limit whereas with a personal SIPP contribution, you cannot add more than your taxable income in a given year. So a ltd co director with 20k taxable income can contribute 50k via their ltd co into their SIPP. If it was a personal contribution, the max would be 20k. The good thing is that you can contribute both personally and via your ltd co in same year.


2. It's impossible to estimate what the tax brackets would be when you come to retire but we can use todays rates. It's very unlikely your income in retirement would match your working income
Also, the current NHS pension is only accessible (with certain exceptions) without penalty at state retirement age. So if you want to keep working fulltime till 67 (likely 70 with time), then it's less of an issue. But if you choose to retire earlier, then robust options are needed. Unlike your NHS pension, you can access you SIPP earlier at 57. Lets say you choose to retire at 60. That leaves you with 7 years before you start drawing your NHS pension. Drawing down on your ISA and SIPP here would help you bridge that gap. Your taxable income would most likely remain in the basic rate.

See it this way: Lets say you need 35k pa after tax to live in retirement. It might not seem huge but remember that most would have paid off their mortgage at this point or at least use the tax-free part of their pension to do so.
You could take 10k from your ISA (tax free), 12.5k from the taxfree part of your pension and 12.5k from the taxable part of your pension (which would still be tax free as it's within the tax free allowance). So in essense thats 35k pa tax free. Even when your NHS and state pension kick in later, your tax bracket would most likely be 20%. The 'generous' pension system is one of the ways the UK really shines.

3. There's a lot of speculation with individual picks. I tend to veer off them in especially with my SIPP. But I see your worry. Also had same concerns too and but after years of maxing my ISA, it became clear as I understood the UK tax system that I should also look more towards my pension. From the examples above, you can see it's not as straightforward. You'd need to be living extra extra large to be paying 40% in retirement. I'm talking incomes of well over 100k not 50k. Some people even transfer most their ISA to their SIPP before retirement to get the tax rebate.
Another consideration- as a higher rate payer, the The 20k in your pension costs you 12k. The 20k in your ISA would definitely cost you more than 24k initially (remember you'd have paid 40% on the income first).

ISAs are sweet. But for retirement, not many products beat a pension. ISAs to me are good as they are offer good flexibility even before retirement. One can also use them to bridge the period before accessing a SIPP if they want to retire or cut down before 57.

Ultimately, I see these options as tools. Its better to ones quiver full so that say 5-10 yrs before retirement, they can sit down with a financial advisor and start making plans.

Thank you for your response.....I will continue with my S&S ISA and Lifetime ISA to max out the £20k annually....any remaining funds will then go to SIPP.....i no get strength to de share any percentage of my funds with the government at withdrawals sha...

ukay2:
Thank you for your response.....I will continue with my S&S ISA and Lifetime ISA to max out the £20k annually....any remaining funds will then go to SIPP.....i no get strength to de share any percentage of my funds with the government at withdrawals sha...

Hehe.. All good. Most important thing is making progress and reviewing as more information comes to light.

For people who bought a home in Scotland here, did you need to carry out a homebuyer's survey? The solicitor is saying we don't need it since home report includes a survey. The property is less than 10 years old.

SapphireFort:
For people who bought a home in Scotland here, did you need to carry out a homebuyer's survey? The solicitor is saying we don't need it since home report includes a survey. The property is less than 10 years old.

You don't need it. The Home Report is fine for most properties but particularly for one that's basically brand new like yours, anything more would be a waste of money.

Goodenoch:
You don't need it. The Home Report is fine for most properties but particularly for one that's basically brand new like yours, anything more would be a waste of money.

Thank you so much.

ukay2:
Annual charge of £109 is ok for me as I like buying individual stocks and not ETFs....

It's the sharing of the loots I no come like at all.... I will always max out my ISAs before SIPP anywhere.

Remember when we had the discussion, about my gripe regarding Freetrade's SIPP charges...... 🤣😂

We have complained tire, they have finally listened..... Freetrade is finally scrapping all charges from next month...... 🤣😂

Freetrade, would now indeed be completely FREE.... 😊😁

AlphaUno:
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?

Thank you!
No, we didnt submit any additional documents. The MA just requested for a review since there was a reduction in the Bank Base rate.

SapphireFort:
For people who bought a home in Scotland here, did you need to carry out a homebuyer's survey? The solicitor is saying we don't need it since home report includes a survey. The property is less than 10 years old.

When was the home report done?

I personally wouldnt mind paying an extra £500 - £1,500 for the extra comfort that the first report did not miss anything and nothing has happened since the initial report was commissioned.

Paying an extra £1500 to protect an asset worth 100s of thousand is worth it in my opinion. Could even give you a basis to renegotiate the price downwards.

Also, for new builds the NHBC guarantee often lapses after 10 years. So if the building is coming up to 10 years and the sales contract allow the passing down of the guarantee, this may be your last opportunity to rectify any issue arisings.

Lastly, its not uncommon for new builds to develop issues shortly after being built...this is why the NHBC guarantee exists.

Fred2020:
When was the home report done?

I personally wouldnt mind paying an extra £500 - £1,500 for the extra comfort that the first report did not miss anything and nothing has happened since the initial report was commissioned.

Paying an extra £1500 to protect an asset worth 100s of thousand is worth it in my opinion. Could even give you a basis to renegotiate the price downwards.

Also, for new builds the NHBC guarantee often lapses after 10 years. So if the building is coming up to 10 years and the sales contract allow the passing down of the guarantee, this may be your last opportunity to rectify any issue arisings.

Lastly, its not uncommon for new builds to develop issues shortly after being built...this is why the NHBC guarantee exists.

The home report is recent. We have got the keys now, so the ship has sailed. Thank you for your advice. Hopefully, everything turns out good.

Hi Guys,
I'm a FTB. I met my broker today and we get a lender Skipton.
I suggested fix rate of 5 years but my broker advice i go for 2years with rate at4.14 and 5years is 4.22.
He said the rate will continue to drop even in 2 years.
Please I need advice on what to do.
I am thinking of 5years for stability but what if the rate drops further.