elengine:
Two questions my ogas here please:

1. For mortgage purpose, I want to switch my current account which is also my salary account from Lyold to Barclays. Is it okay because I haven't seen anyone here saying he got mortgage from Lloyd.

2. Can I still open a LISA account at 40 something age?

Thank you

Please don't switch to Barclays. Remain with Lloyds, it's better for you in regards to Mortgage.

If you wanna get a Mortgage from Barclays, you just send them 3 months Bank Statement and other documents, you don't have to bank with them. If you bank with Barclays, they won't ask for statement as they have your entire history and may see something they won't like and reject your application.

Stevepop:
Hi everyone,

Our completion is next week (20th) and I've been overthinking things. LISA has been withdrawn by solicitor and we've paid all fees. Please what should I expect to happen between now and Wednesday when we complete. Are they still going to ask for payslips, bank statements etc, is the lender still going to ask for documents from us before releasing the fund...Just worried of something happening between now and next week and need to be prepared.

This may be needless overthinking but just felt to ask

cc: Solumtoya, as you just completed and it's still fresh in mind. A big congratulations to you and I look forward to putting up my completion post next week.

Absolutely! I know the feeling, I was similarly worried, but 99.9% of the time, just sit and wait and it will be all fine. My Lender did nothing. In fact, I need to even sort out my building insurance as at no point was I told to do it.

Finally Completed, Keys in my hands.

Found the property in September and reserved. Completed in December.

Barclays 2 year fixed at 5.53%, 12% deposit and 2-year residence in UK.

God has been very kind.

Thanks to all for the beautiful contributions here and especially to Lexus and Ticha for reminding us this is doable and should be done.

Will share my lessons learnt ASAP.

ukay2:


It seems to be on the high side, but just complete and move into your house.....

I'm telling you! Few months after your completion, how has the experience been?

Pearlyfaze:
Good Morning great minds.
Please I will need you to look at this and give me your thoughts. We are hoping to buy a property and the solicitor recommended by the developer gave us this quote:

TOTAL

£1,428.00

So it was initially £1668, when I replied his first email, he removed £240 and gave me the above.
Please is this a good deal? Do solicitors charge for having our deposit in LISA?

Also our insurance quote by the Mortgage advisor is huge. Circa 120 for a 25 year deal term and both of us are 40years old.

I just saw my Solicitor's final charge and it's over £3k if you add Land Registry of £330 and Engrossment Fee of £192. Those who have completed recently, na like this e dey be?

Although, I fear it's too late to negotiate sha. I have already signed everything and we are completing this week. Good lesson to use calculator and go through the fine lines next time.

Yhello4u:
Hi

I have a residential mortage on a 5 year fixed rate

I have only lived in the house for 2 years and want to sell it or rent it out.

Can i change to BTL mortgages if yes will i be charged for it being that i m in a fixed term rate

Also BTL Mortgages are 25% deposit i deposited 10% when purchasing the house will i be required to pay the remaining 15% if i change to BTL mortgage?

If you have a good reason, you can just request for consent to let if you don't wanna sell. Some lenders allow you remain on a residential mortgage even after remortgaging

Pearlyfaze:
Elders biko this thing is tiring.

The solicitor sent me a document to sign and pay a commitment fee.
On opening the document. After the quote we accepted, I am seeing other potential charges of over £2600. Some of these were removed from the original quote, some are already covered in the accepted quote. Some of the things in these potential additional charges are
1. The SDLT submission fee.
2. New build Charge.
Numbers 1 & 2 were removed from their earlier quote.
3. Drafting of the Deed of Covenant, and Approving of Deed of Covenant.
4. Drafting Notice of Transfer fee.
5. Drafting a statutory declaration etc,

Please is it normally like this or i should look for another Solicitor?
I do not want someone to come back to say I owe him this and that. In my head, I am thinking they will give you a quote, you agree with it, and start working with it.
I do not really problem paying the commitment fee. But this form does not look straightforward.

Hi, you can just ring the Solicitors and clarify. They typically may not be able to confirm the exact amount until the start or even finish the job

chimexview:
Please guys I want to know which bank is best to have for this buying of property for a first timer and getting the mortgage. I have lloyd account but having gone through this thread I noticed alot of people are talking about Halifax, natwest and barclay bank. I just want to be on the right track so I don't miss a thing. Thanks in advance

It makes no difference, it's even better not to have an account with Barclays or Halifax

Pearlyfaze:
Make una nor vex biko say I dey ask a plenty question.

The solicitor say make I drop about 600 as a commitment fee, Is this how it's done bikonu, ejoor, mabinu.
Make person nor use me do Christmas.

I was thinking payment is made at the end of everything.

I paid £450 upfront for mine, so it's not unusual.

Oyi12:
Hello elders, please I need your opinion on this. I got 2 offers with sponsorship. The first is with council in a day centre while the second is a Band 5 with the NHS but in Bristol. Considering how expensive Bristol is will it be wise for me to move there with the band 5 salary with my family? There is prospect for me to secure a higher grade in the NHS in future but I am just scared of because of how expensive Bristol is.

House rent is about £1,500 average while i stay in a town where i pay less than £1,000 for rent. We are a family of 4 and my spouse hasn't gotten a job yet.

If you really love the Bristol job, there are many affordable Cities around Bristol like Newport, Weston-super-Mare, Bath, Gloucester, etc. with easy cheap commute to Bristol

Phayie:
Hello everyone, I see some lenders like Nationwide advertising LTV of up to 95% for first time buyers. What are the possibilities of securing such an offer

I would say that the chances are slim for Visa holders but no harm in checking with a Mortgage Advisor.

Estroller:


When you complete; yes, but not necessarily when you move in. People don't move in on the day they complete for different reasons, it is not uncommon to pay both mortgage and rent for a couple of weeks or months before moving in.

Absolutely. I was trying to differentiate Completion from Exchange of Contracts. I should have said "when you get your keys".

deept:


Be careful o.

There was a programme/documentary sometime ago about people who went to exchange contracts on buildings yet to be finished. The developer failed to deliver and for years they waited for 'houses' to be complete. Once you exchange contract there is no backing out. Get a good solicitor to look at whatever contracts you wil be committing to.
EOC means paying your deposit, these people could not get their money back and no house. There was no timeline for house to be complete.

Solid point. That's why I prefer to use big developer names as listed on this thread. Also, it's a good point to ask your solicitor to protect you against such. The builder should give you a date in contract. Mine gave a proposed date with a 2 month extra hard stop after which if the building isn't ready, they have breached the contract.

Pearlyfaze:


Thank you so much Sir,
So at exchange of contracts, while waiting for the developer to finish the building, is one expected to start paying the Mortgage?. Or you start paying when you move in?.

I just want to be clear and get ready for it.

You start paying Mortgage monthly instalments at Completion when you move in. However, unless the Developer allows you, you will typically be required to pay the deposit at Exchange of Contracts.

solveabode:
Congratulations.
Please can you enlighten me on how you are able to get £4k on LISA? Cos from my understanding, you only get a bonus of £1k if you deposit £4k in a year.

Also, can you recommend a solicitor?

Thank you

My wife and I opened in Oct/Nov. By March, we had both put in £4k each and got £2k bonus. Then by last month, we had both put in another £4k each and got yet another £2k bonus.

The Tax year ends 5th April so the £4k limits reset on that date.

As for solicitors, I just used the one the Developer recommended, they say it's not advisable but it worked for me. If it was an old house agent's recommendation, I won't have used them though but New Build, I'm comfortable using their recommendation.

Pearlyfaze:
Good evening dear ancestors.
Please I will need some clarification to use hold body before meeting with Mortgage Advisors in few weeks time. I would love to know, For a new build home, How long does it take from reservation to moving in.

We will complete two years by next month, we have 15% deposit for the property we intend to buy. So we intend to start the process by next month and by this time we will be having one year left on our current visa.

What are the things to look out for.

Reservation to Completion for a new build could take anywhere between 1 month and 8 months depending on what stage of building the property is in.

Once you apply for a mortgage when you clock 2 years (if you're waiting till then), you could get an offer in 2 weeks, then Exchange Contracts in another 2 weeks. Afterwards, you just wait for the Developer to finish the building which could take a few weeks or a few months. An empty plot, for instance, could take up to 6 months while if the house is ready, it could be 1 week.

My only worry is the length of time left on your visa but just get a good Advisor, with 15% deposit, they could make some magic.

All these NHS children... If you're like me that doesn't work in NHS, check your Employers, they might have some juicy offers like pension matching, schemes where you can get Stock Options by buying the Company shares at a discount using your pre-tax income, etc.

I will definitely do BTL sha, like jedisco said there's Asset Appreciation, Rental Yield and Leverage. Let's keep packing up chunks of the King's land. Diversification is key

Tolzeal:


Thanks for your contribution. At the bolded, do you mind explaining how you got an extra 4,000GBP if the withdrawal duration is just a year?

Is it with your partner or just you?

Yeah, we opened in Oct/Nov. By March, we had both put in £4k each and got £2k bonus. Then by last month, we had both put in another £4k each and got yet another £2k bonus.

The Tax year ends 5th April so the £4k limits reset on that date.

Quick steps to get your UK Driving Licence:
1. Apply for Provisional Licence on https://www.gov.uk/apply-first-provisional-driving-licence I think it redirects you to some other site. Costs about £32 or so.

2. After a week or two, you get the forms posted to your address which you fill, attach your BRP, and post back to them within 3 weeks before the form expires.

3. After another week or two, you get your Provisional License and can now book for your Theory Test.

4. Book your Theory Test on Gov.uk for £23.

5. Download the Theory 4 in 1 App, prepare for the test and hopefully pass it.

6. Book your Practical Test ASAP on Gov.uk for £62. You might not get a desired date and location but just book any.

7. Reschedule your date and location if need be later as cancellations happen on Gov.uk (free but need luck) or with Testi App (for a fee).

8. Practice on the test route using the App "Driving Test Routes", better still, get an instructor.

9. Pass your Practical Test and get your UK License.

Lool... Writing this just made me realise the whole process could easily cost up to £1k but you don't have to do it all at once. Just start early and you can do it over 2 years or you can decide to do it all in a few weeks.

Goodluck, guys

I shared the other day that I passed my Theory test but soon realised that quite a number of people fail it after talking with some Nigerians around.

An easy way to pass the test for me was to download the "Theory 4 in 1" app, then go through all the 775 practice questions (ideally twice). I was taking the Mock Tests (50 questions at a time), first round was set to "Questions I have never seen" and second round was set to "Questions I had previously failed". If you do this, about 40 or 45 of your real Exam questions would have been learnt.

Secondly, or prior to the above, there are some topics that you must learn very well as they would constitute about half of the test questions. Watch videos on these topics and learn them well if not you will keep failing questions:

Types of Pedestrian Crossings
Road Signs Classification
Speed Limits
Accident Victim handling
Motorway Road Stud colours
Lights on the car
Stopping distance
Level Crossings
Incidents and Breakdowns on Motorways
Towing
Contraflow traffic
Other road users: Cyclists, Lorries
Flashing lights on vehicles
Coasting, Slowing down and Braking with Gears
Driving on different road conditions: Wet, Dry, Icy, Fog, etc.

Avoid using your account for too many International transfers to/from Nigeria within the 4 months leading to your application as Barclays and many other Lenders can have serious issues with this.

If your main Bank is Barclays, they have access to your Financial transactions and can deny you for reasons dating further back while if your accounts are with other banks, they rely on only the time frame you gave them. Of course, if they have concerns they can request for more Months of Statements but I'd say it might be easier to avoid Barclays as main Bank.

LISA please. If you're not 40 yet, please open your LISA today. Moneybox is a good provider and you need only £1. I delayed on my LISA and I am still waiting for it to turn 1 year this week so I can access my funds. LISAs are great, I got free £4,000!

Many Mortgage Advisors charge a fee. You don't have to pay. The Bank pays them like 0.5% of the Mortgage amount so you really shouldn't pay of you don't want to, just look for another Advisor. If you're bold and don't have any special circumstances, you don't even need an Advisor. The main advantage of an Advisor would be Specialist Advice and helping with a range of products across many Lenders to help you get the best deal.

For Tier-2 Holders, it's easiest when you have more than 2 years residency, more than 2 years left on your Visa, 10% deposit (if you have up to 25%, you may not need 2 year residency); also if you have household income of over £100k, you get more Lenders. I had 2 years residency and the only Lender I got was Barclays. Skipton almost considered and Halifax had conditions such as 25% deposit or £100k+ household income.

Don't waste your time getting many Decision-in-principle, just go for Barclays first. Also ensure that whatever Decision-in-principle is only a soft check.

While having credit is good, you may be required to clear all outstanding debts before disbursement of the Mortgage.

Be very cautious of Solicitors, they can mar the whole process. Always go for referrals, a Solicitor someone has used and confirmed as efficient.

solveabode:
Please I co-ask as I'm in the stage of applying now.

quote author=Gloriouscrown post=126685000]

Hi Solumtoya,

Kindly share these tips 🙏🏾

Hi, I will definitely do so, please head over to the Mortgage Thread now, I will just write some things now and will definitely compile a step-by-step process later once I'm done:

https://www.nairaland.com/7534564/living-uk-propertymortgage-related

missjekyll:
Hi Everyone,
I ve been thinking about how to hit the sweet spot between paying just enough cash to eliminate the risk of negative equity ,reduce your monthly payments as much as possible and keeping as much of your cash as you dare?

Any thoughts? Anyone?

Is this before or during the Mortgage?

As long as you're able to keep up with your mortgage payments, negative equity doesn't really matter – it only becomes an issue if you want to sell or remortgage the property. Don't let it bother you too much.

Ensure you keep up with your minimum monthly and overpay if comfortable and allowed. Don't overdo it, like putting all your money into overpayments, just strike a balance between your emergency funds, overpayments and other investments

Viruses:


If you want to talk; talk. Stop trying to build anticipation. Make we beg you first abi make we make the mistake first?

Why's everyone so rude suddenly? Or everyone has been emboldened to show their rudeness? How am I building anticipation? I only got an offer and will share when I think I have all the details besides I'm not under obligation to give you the information so I don't understand why you quoting me to say this.

I think everyone just needs to calm down, we can do better here.

BouharryArtikou:


I want to co-beg too.
Please @Solumtoya, help us with this vital info. It will be very helpful.
Please, operate above the noise of these folk who have taken their toxicity & bitterness (of the Church) to this forum.

Someone once mentioned that there are certain person(s) on this thread who get mind blowing orgasms whenever they smell an opportunity to thrash the Church. Please ignore them and let’s bring this thread back to the sanity that Fatima004 envisaged when she started the thread.

Please I am interested too in learning the few things you e learned about mortgages.

@kwakudtraveller: please what is the mortgage thread you mentioned?

Oh, please you don't have to beg. I only just got my Mortgage offer so I have not concluded the process yet and I am still documenting my Lessons Learnt so once I finish the Mortgage process in a few weeks, I will share maybe not on this thread but will definitely share as the information will benefit everyone who intends to embark on a Mortgage journey.

This is the Mortgage thread he was referring to:

https://www.nairaland.com/7534564/living-uk-propertymortgage-related

BouharryArtikou:


Me sef dey wonder.

Inphoenix used to be very nice and civil or.
The Inphoenix I used to see used to preach about being kind to each other on these streets ohhh

I was honestly surprised how Inphoenix carry church enter this matter.
Totally unnecessary.

I've left the conversation, the thread took a dark turn lately. Imagine saying I should "agree or die" and dragging my religion into a civil dialogue because I shared my experience. Well, I gave my two cent, I tried guys!

inphoenix:



Wait, so because she born pikin, she must carry the pikin for head everywhere? Or a single mother must not fend for herself or have life because she get pikin. I wish you people can listen to yourselves sometimes!

If you read what I said, it is a tick box exercise EXCEPT there is a cause for concern!!! You just repeated the same message I passed, but you still had to instill that fear that she is not safe in the poor woman, why??!!!!!!

I hate when you people scare others with all these social worker nonsense!!! You think it's just easy to take away children?

You may scream much but it doesn't change the fact. My friends' kids were taken away last month over absolutely nothing, just a "hunch" that the kids were not safe. I have a few other LIVE examples in South Wales and Bristol.

I used to think like you before but after being involved in some cases and speaking to 3 Social Workers, I realized it's neither a joke nor scaremongering.

And yes, "because she born pikin, she must carry the pikin for head everywhere" if she has to. She has to ALWAYS ensure the child is in safe conditions, failure to do so can mean losing the kid. Of course, she should have a social life, but the Government must not deem the child neglected in the process of her social life.

A word is enough for the wise sha.

justwise:


Its Justwise.

If you are offended because i called out some criminal/fraud happening in many Churches today then you are part of the prob.

The difference between many Churches today and armed robbers is just gun.

charlatans running those Churches know how gullible people like are hence your reaction.

Welcome back.

It's not in my nature to engage random folks on the internet especially over matters like religion which is why I didn't quote you by deliberately misspelling your moniker but I'd make an exception and leave the thread if I have to since it's actually yours.

You said and I quote "Tithing is a scam" among several other things. That's just off for people here who may hold it as a sacred doctrine. You won't do same to even an Islamic doctrine or any other legal group like LGBTQ even if you don't believe in what they're doing.

You have to respect other people's legal beliefs even if you feel you are now much wiser than them. You can share your opinion but making such definite derogatory statements is bullying.

This isn't about you "calling out some fraud in the Church", don't divert it and act like that's all you said.

I used to respect you a lot and I still do, I really don't want to stretch this conversation

Santa2:


@Solumtoya Bros you don leave me for back ooo. We dey this mortgage waka together before ooh. CONGRATS man!,,Will get some pointers from you as I get along the journey.

Thanks. I learnt so much in the Mortgage process that I will definitely share here someday. So much has changed in how Visa holder's applications are being handled that we need to be aware of early enough.

Gift7428:
Thanks for your advice, Nigeria is totally out of it.
I got a better update on the story that I wouldn’t even want to share anymore here.

I have only socialized twice in a year for few hours close to my house.
Some people are making it look like i party every Friday. Anyway seems like I gave too much info.
Make Una take am easy oh 😂
You even had to ask for my age.
The issue of sending her to Nigeria was because the people around me was spreading too much fear

Thank you

"Too much fear" you say

While inphoenix was right that sending back to Nigeria should be well considered being thought as best; (s)he may have said some things that are not entirely correct and make us feel too comfortable.

It's a big offence to leave a child alone if it places them at risk and you can be easily prosecuted for it and the child taken from you. I am speaking from experience of cases I am involved in but can't speak much of because the matter is in court and it's private and confidential.

It's definitely NOT a tick-box exercise that the social services have been involved and could be a big cause of concern. It entirely depends on the officers handling the case. If you know any social worker, they'd tell you better, someone whose wife is a social worker already mentioned how serious this is.

That said, I really hope it doesn't escalate any further but you really need to be cautious going forward. I wish you the best.

Maureen4sure:
@semmyk, @Santa2,

I had my graduation yesterday, and it was eventful. I would like to thank you personally, @semmyk, for making this happen.

When all hope was lost,you came through with your advice and the right step to take.

I'm sure you still remember my situation vividly,when I failed my modules and the school was going to award me a postgraduate diploma instead of an MSc.

I followed your advice and wrote to the vice chancellor of my school regarding my predicament and why I failed. Her office swung into action, and I was given the last chance 'Extenuating Circumstances’ .

I was asked to resubmit the failed module, and I passed.

Yesterday, I was awarded a Master of Science.

@semmyk, I prayed God would come through for you in whatever challenges you are going through, just like you came through for me. It will all come good soon.

My appreciation also goes to @Santa2 for your advice and kind words.

Thank you again and again.

This is what this thread is all about: Community of kindness and sharing.

I had decided to let go of this thread because folks like Justman had decided to use the opportunity of being a moderator to attack beliefs that people hold sacred. I never understand how one thinks it's wise to keep saying negative things about non-criminal religious doctrines. You won't do such in UK to people's sexual orientation, for instance, regardless of your stance on the matter. But because it's Nairaland, it's alright to say things like "someone's sacred doctrine is a scam run by crooks in the Church".

I digress... But, I think I will come back. My epistles have helped so many people here.

I passed my theory driving test yesterday, first time. I also got my Mortgage Offer last week after only coming here 2 years ago as a Student Dependant. These are only 2 examples of some of the ways God has used information from this thread to help me.

So, here's to more Communal assistance on Nairaland.

Depends on your age and some other factors. A 30 year old should get like £16 per month while a 33 year old will get £18 and it keeps going up with age