toms55:


Chief , how does this LISA works? Say i intend to save up to 4k P.A do i have to save the 4k at once or i make a monthly contribution towards the £4k and which LISA account do you recommend

Like someone highlighted before me, you can pay the 4k as a lump sum or do it in installments; weekly/monthly which ever suits you. There are a range of accounts out there and I would say do your due diligence. I use moneybox and its been phenomenal for the last three years. Recently drew down our deposit/bonus and took just 3 days to get to the solicitors. It was easy to setup, assigned a free mortgage advisor when we needed advise and respond to enquiries promptly.

teeebest:


Yes oo. It is a 4 bedroom house we are getting for 140k.

What? No be to relocate go North East like this?

acosfd:
Good morning my good people. Abeg what is the best way to save for mortgage deposit. Already opened Cash ISA with money box. Is it a good idea to just save in a current account (as I learnt inflation will eat it away) or there are better options. Plan is to save for one year.

If all goes according to plan, by the time we complete on the property between my spouse and I, we would have gotten 7k free bonus in total from both our LISA's. We just waiting for 6th April to put in our contribution for 2024 and get the bonus by next month. Luckily I found out about LISA on NL just before I turned 40. To who ever is listening time to open your LISA is yesterday if you within the age bracket.

profemebee:
Signed sealed and delivered....

New build .. 12% deposit.. Barclays..

Thanks to everyoneeeeeeeeeeeee.. especially Lexus, Ticha, justwise, LagosismyHome, Deept, Estroller, Stevepop, Mohtunrahyor, Santa2, Zahra29, Solumtoya, Jedisco, Peerielass, bigtt76, newbie715, etc

I hope i didn't forget anyone...

Rent money isn't dead money tho....

Have a blessed day

Congratulations oooh.. So happy for you.

How does it feel to be in your own place?

I am also trying to drag out my completion date,

Trying to see if I can drag so the kids can complete the third term in our current place, as the new house is in another town, would like them to complete the school year in our current place. Unfortunately I might have pay rent and mortgage.. Fingers crossed.

Lexusgs430:



Oya, take this..... £5K.....

https://www.ebay.co.uk/itm/186370438881?mkcid=16&mkevt=1&mkrid=711-127632-2357-0&ssspo=v1yvpjdwqqs&sssrc=4429486&ssuid=qocc3p2OTb2&var=&widget_ver=artemis&media=COPY

This is not a bad car at all the price...The Honda jazz are renowned for reliability and very economical. If I were poster, I would narrow in.

Thanks for doing the Lords work Lexus430

Lexusgs430:

[/b]
Any main credit with even 100% Apr ...... It does not matter....... Simply get another balance transfer card with 0%, and move balance....... 😉

Clear balance within the 24/36 months....... Bob's your uncle..... 😂

@Lexusgs430 Bros..no vex say I wan ask question like 5 year old pikin, my people say person wey dey ask question no dey loss. . Assuming I have a £10,000 limit AMex credit card, And I spend 4k on the card, I just simply get a balance transfer card with 0% and move the 4k spent to it right? I dont spend on the amex again and close the amex card??

assuming the above is correct, on the balance transfer card, can I spend more than the 4k transferred. (would the balance transfer card come with its own limit?)

Chreze:


I had to go search for the main post as I didn’t want to quote wrongly and start arguments afresh.

While we can debate all day about public fund, benefits and what one is entitled to, we can all agree that the conditions surrounding the government support shows it is meant for people finding it a bit challenging to meet up in some way and a good support will help them get back on their feet. We all have different views on this subject but I don’t think we should crucify each other for our beliefs.

I believe you didn’t actually use a good opportunity that you are/should be entitled to. LOAN. If I were in your shoes what I would have done would be, get a loan from the bank to pay for the ILR fees, and pay the bank back in their payment plan. That option would have kept your earthly confidence (money) intact. You would have had you £10k+ in your account while the bank get from part of your future earning. No be say you de run, you go de for the country for years, them don give you ILR them don give you.

One funny Nigerian saying: “I go pay no de go jail”

Yes, a lot of us hate loans and all that, but we can’t deny the economy we find ourself is a credit economy. Loan help you build more credit here, plus institutions would be happy to lend you more based on your credit worthiness.

To round up, I would say, just give 2 to 3 months, you will be fine when the salary alert comes in. And yes it’s annoying the amount we pay just to be here with our family. It’s even more annoying how much we contribute to the economy (tax), then still get to pay this crazy sum to be a member in the society. E go end one day.

Pele, Take heart. Let the joy of say you can now begin “do contract jobs, then go long vacation and come back to start another contract job” put smile on your face.

The way I rationalize paying hefty immigration sums upon renewal is that, its my way of getting another passport while paying in instalments. lol. Back in 2015 -2017 a few friend were shelling out between $60,000 to $100,000 to get a second passport, I just dey look they ask "where una dey see this money"? So in order not to scatter my mental health I tell myself that na same thing I dey do but Home office just dey allow me do instalment payments. . What you wrote up there resonates with me. I have been looking at getting zero percent interest cards that one can pay over 2 years in readiness for the next renewal. One thing I have learnt from this thread is the importance of building a great credit profile and using using credit responsibly.

wallg123:

This would work well in our school system in Nigerian. But these UK school kids like the wolf pack mentality. You fight or disrespect one and he comes with his gang for you with knife? Otilo oh …. Thinking of enrolling my kids for kickboxing or judo classes but last last na God dey protect

Already enrolled my kid for boxing for the past one year..upgraded to kick boxing recently.. No Time.

ukay2:


Through the advisor... What l did

Many thanks..Will do

I have come again with my plenty questions...After one gets an mortgage offer from a lending institution, Several people have said you can always re apply in the event the interest rate goes down before completion, If you got the offer through a mortgagee advisor, do you reapply through the advisor or you just go direct to the lender?

seyejohn94:
🎉🏡 Testimony Time! 🎉🏡

Guess who just conquered the infamous property ladder? That's right — yours truly! 🙌 After an exhilarating journey filled with twists, turns, and a whole lot of learning, I finally got the keys to my very own slice of heaven, just two days after sealing the deal.

Let me drop some key pointers for those eager to embark on their own property adventure:

Lisa Isn't for Everyone: If you're eyeing a cozy abode in London or certain sought-after spots, Lisa might not be your knight in shining armor. I learned this the hard way, but hey, lessons are part of the journey, right?

Solicitors: The Unsung Heroes (or Villains): Oh boy, let me tell you — the role of solicitors in this process cannot be overstated. They can either be your best friends, smoothing out every bump in the road, or the stuff of nightmares, throwing obstacles in your path. Choose wisely!

Believe in the Power of Possibility: Through every hurdle, setback, and moment of doubt, one thing kept me going: the unwavering belief that anything is possible. And let me tell you, standing in my new home, that belief has never felt more real.

So, to all the dreamers out there eyeing their own spot on the property ladder, remember this: the journey may be challenging, but the view from the top? Absolutely worth it. 🌟🏠 #NewHomeJoy #PropertyAdventure

Congratulations on your purchase.

Domistic:
I need clarification
I read somewhere that if I use gift as deposit, that I have to pay tax if the gift is above £3000. I actually have about £5000 in Naija that I want to transfer to my Bros and he will In turn send it to me as a gift. How practicable is that ? As I also learnt they need to see his account statement.

Has anyone used gift from Naija as part of their mortgage deposit ? How did you go about that ?

If the funds is yours, why dont you just transfer straight to your account, Explain it as your savings in Nigeria. Instead of sending to your brother first and then he sends to you as gift. You are allowed to have savings in Nigeria or any other country. So long as you defend it.

cbn4main:
Elders in the house,
I don tire to do these civil service interviews. So far more than 6 done ( I got on 2 reserve lists for EO and HEO roles).

What exactly do they really want? How can I secure an offer? What should I do differently?

I speak quite well and confidently during interviews. I structure my answers to the behavioural and strength questions quite well.

I will appreciate any word of advice 🙏

done only 6? you never reach 20 naa

The ultimate goal is to get that one Yes..Do not be weary. you are in a better position as against someone who has been applying and not getting interviews.

You had be surprised if people here opened up on how many interviews they did before they got an offer. I stopped counting at 40 plus.

Keep pushing , you are almost there.

Gerrard59:


Interesting tale. But sha, in my opinion, property purchase should be done when one has a solid foothold in the country (permanent residence at least). Na so those long-time Indians at Facebook and Google had to sell their properties after being laid off by those companies.

Having to sell of your porperty if immigration waka goes south isnt a bad thing in itself. Infact I could argue that its a great financial investment if the property has gained in value over time of ownership. Buy the time the sale goes through and you get back your equity gained, one would be better off as against money paid to landlord that just goes down the drain.

NewT123:
Nigerian carer slumps and dies on duty

https://www.thecable.ng/report-how-nigerian-carer-in-uk-slumped-on-duty-and-died/amp?/report-how-nigerian-carer-in-uk-slumped-on-duty-and-died

Please when you are not well, take care of your health. No reason shift money. I know there are bills to pay but na only person wey Dey alive Dey pay bills. For those wey Dey pack shift like say tomorrow no Dey or do several jobs without resting. Please take care of your health. Enjoy your life. Take yourself and family out. You only live once.

May God rest her soul and continue to keep us all. This is actually a reminder to me to be more intentional with regards to looking after myself Healthwise

profemebee:
I totally agree.. i was referring to the 2 cases in context that are currently facing this..

My point is.... we complain about "everything", including things our own country can't provide....

Sorry about your friend.. did you mean he left? relocated to another country (not Nigeria)?

I'm glad he had plan B

The bolded part in your post is very very key though.. quality prayer

Yes he left, he actually became an overstayer before he left while trying to secure another sponsorship. Luckily he had canadian PR from 2 years prior but he felt he was already established here so he wasnt going to move to canada, He always joked about how london was just 6 hours flight from Lagos as against Toronto.

profemebee:
UK this... UK that...

Meanwhile a lot of us don't know how difficult our Nigerian visa process is for foreigners for example...

I have applied for a visa for Blackberry Execs from Canada before when i worked in Nigeria.. when Blackberry was Blackberry... the shit I saw with my very own eyes.. the process they were put through..

These were people coming to invest oooo..

Some people complain we don't have access to benefits.. what benefits has Nigeria ever offered us ?? ever our own country...

Even pensions from decades of sweat, blood and tears are stolen in billions and the older ones have nothing to fall on or die before they receive it.. no benefits, no pensions after decades..

Let's be real ..

You applied for a school visa and accepted/claimed you had funds to be able to take care of yourself financially.. and knew there will be no govt support.. knew the bills to be paid before you even left Nigeria

You applied for family/spousal visa and knew your spouse has to earn a minimum and you will need to be able to take care of yourself financially.. and knew there will be no govt support.. knew the bills to be paid before you even left Nigeria

I can go on and on...

It is a simple case of walking through a known landmine and then complaining when some mines go off...

I still saw 2 cases this week on families being shattered[b] because of lack of planning and facing reality[/b].. and they've sold everything in Nigeria and are now stuck and need loans/change of visa or they're back to Nigeria soon

Nahhhh

@ the bolded..I know cases where people planned well and still got the burnt end of the stick. Its not really a one size fit all. Someone I know after being sponsored for 3 and half years, His organisation filed for bankruptcy and when under. That's how dude found himself without sponsorship and with just 90days to find another. Despite being a software developer he was unable to get a job to sponsor him within the time period. He got several offers but just not one that would sponsor. Bobo was well established here, bought his house, and all. Luckily he already had plan B else na back to Tibunu and sundry. He still feels burnt on how he had to leave the country. May life not happen to us despite all our plans.

Zahra29:


Once an individual becomes an overstayer, it is virtually impossible to regularise via the marriage route. The only open route now is human rights via a British/settled child or via private life.

The human rights route is typically a 10 year route from the date of regularisation to ILR.

This quite different from the US..In the US overstayers get married and obtain residency.. There is a reason why UK and the word conservatives go hand in hand.

Jamesclooney:
1. Has anyone bought a new build “show home” before? How much extra was it? Just feel a lot more stress-free than furnishing to the same standard.

2. Any concerns in buying a house in a 99% white community? Most new builds are in less urban areas with lots of non-immigrants as majority, kinda looking for a mix to get a good community vibe. Any tips on this?

Thanks ahead

I do not have first hand experience buying a show home but I know people who have and in each case they were happy with their purchase. I had to opportunity to buy a show home last year unfortunately my finances weren't in order, now I am the process of getting same type of house like the showhome but I can see that the showhome had a lot of extra in the build that I wish It was still available to me, I wouldn't mind paying more for all the extra's. In the case of the people I know that got show homes, some were able to negotiate very good discounts as the show home was the last to sell off in the development while others paid slightly more for the extra. I guess it depends on the developers and varying circumstances

LagosismyHome:


Make I laugh even though I have no clue of what was typed 😁🤣😁🤣

Ps. I have now found the meaning of the slang on Google

Its a line from a classic song by the great Fela Kuti.

Welcome back, we miss you great insights.

Pearlyfaze:
February ended with Keys in our Hands.

As we sit amidst boxes in the warm embrace of our very first home, our hearts are overflowing with gratitude. This moment, so monumental in our lives, was made possible not just by our dreams and efforts, but significantly by the support, guidance, and encouragement we received along the way.
We wanted to take a moment to express our sincerest thanks to you. Your insightful advice, mortgage advice, financial guidance, etc was invaluable to us. Your wisdom and experience shed light on paths we hadn't considered and smoothed out the bumps on the road to homeownership.
This home is more than just a structure of bricks and mortar to us; it represents a milestone, a canvas for our future memories, and a testament to the enduring spirit of support and community we've been lucky enough to experience. Every corner of it already echoes with the promise of future laughter, love, and the making of fond memories. And in every one of those moments, we'll remember the role you played in bringing this dream to fruition.
So, from the bottom of our hearts, thank you.

2years UK Resident.
Skilled Worker Visa.
New Build Home 3Bedroom
Developer: Gleeson
5% Deposit contribution
Kitchen and Bathroom upgrades and Free carpets
Lender: Barclays
Mortgage Tenor: 25years.
Deposit two years LISA Max out.
LTV 80%.

COngratulations! Alas all the wahala comes to fruition. Hope to be in your shoes soon. Does the bolded mean you got 5% deposit contribution from your developer?

Solumtoya:


3 weeks. Usually 2 weeks though, mine had some delay

Thanks a lot. Appreciate

Pearlyfaze:


We have 11 months left on our visa and the contract was exchanged yesterday. We clocked two years in the UK in December 2023. For Barclays, as long as you are on a skilled worker visa and have been two years in the UK, Just bring 10% and collect House.

@Pearlyfaze, how long did it take between when the mortgage advisor applied for your mortgage and when you got the offer? Using Barclays too so I just want to get an idea of the timeframe. Make the thing come quick so that I fit sleep well abeg.lol

@Solumtoya I believe you used Barclays too, could you shed some light on this timeline?

Daalu

ReesheesuKnack:


My only issue with CeX is their exploitative tendencies.
CeX will buy an iPhone for £100 from a customer, and sell same for £250.
I would still prefer Facebook marketplace (with eyes wide open and only pay after I have collected and tested the item, never ever ever bank transfer). Or eBay.

Bought A Note 10+ almost three years ago from FB market place, Still enjoying it till date. Seller even brought it over very close to mine. If you shine you eyes well on FB, you will dig up good deals

missjekyll:


https://www.gov.uk/guidance/meat-products-sell-them-legally-in-england#types-of-meat-you-cant-sell

The law may have changed on this. My local shop in Kent has skin-on goatmeat . It's got fufu too.
I recommend Kent to anyone looking for diversity.

abeg which of the shops? put me on biko? what part of kent?

hustla:


Yeah Lolak Afrique is in Peckham too, there is Enish just a stone throw from that Alhaji suya too though ... so you can kill two birds with one stone.

The area is a bit rough though.. If you like Lagos vibes, you'll like Pekcham

You need to try the Suya and Jollof at Suyahut in Barking, na A1

Bros you be connoisseur for this naija street food level oo,.

Heard cases of people developing running stomach after Lolak amala, was that your experience? Made me refrain from going there when I was in the area.

profemebee:
thanks for this..

I will consider all these.. cant be paying both places ooo..

Hopefully, any mortgage lender i use will not immediately expect mortgage payments..

I understand you get like a month or two before repayments start to kick in,

Solumtoya:


Solicitors recommended by the developer. I hoped they would have all the experience, documentation, etc needed for that development since they may have done it for 100s of my other neighbours. Overall, had no major issues with them, of course except, I noticed late that their price was very high.

Even my Mortgage broker was from the developer and that turned out super helpful. The brokers negotiated a good incentive for me since they had a relationship with the developer. My previous request for the incentive was declined but the broker basically told the developer: "this guy's eligibility is great and all he needs is this incentive" and in minutes, developer approved.

Many people advise against it saying "the broker/solicitor might protect the interest of the developer instead of yours" and I understand that opinion.

Did you converse with you neighbours before firming up on your place? I have been thinking of chatting up with the neighbours in the development just to get a general sense of their experience, so one can draw experience from. but in this land of mind you business, I dont know if its a good Idea.

Solumtoya:


My Solicitor's fee was definitely high (even though it includes about £500 for Land registry and Engrossment, still high). I noticed late so I just went ahead. If I changed Solicitor, I would have saved over £1k.

Short Answer to Snagging: Yes, it was worth it.

Long answer: It depends on how perfect you want your house, how much you trust your builder and how much you truat yourself.

My Snagging Inspector came with a drone to check the roofing sheets and found a few issues (cosmetic). Came with a Heat Sensor to check for insufficient insulation and spotted a few. Loosened the bath tub covers to check the pipes beneath and legs and spotted a few issues. Used a Spirit Level Plumb to check straightness of walls, found a few wonky walls and stair poles. Checked the soil beneath the interlocking and turf, etc.

These and many more are things I would never have thought to check so yeah it was money well spent. In 99% of cases like mine, they find nothing so serious. So many of the issues she spotted are being fixed while others are things I don't mind and won't bother stressing over.

So, yeah, 99.9% of people will just pay that money to be told the house is okay apart from cosmetic issues but I didn't wanna risk being the 0.1% who had a major issue.

P.S.: They found about 85 issues, the site manager and I agreed to ignore about 20 and the remaining 65 or so are mostly already sorted now

@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.

ukay2:
LISA... Maxed out

Waiting for 6th April 2024 to continue £100 weekly contribution with money box.

Try join if you're less than 40 years...

Sent you a DM

Solumtoya:


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.

Great Insight. You actually highlight some advantage I had not considered.

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.