₦airaland Forum

erico2k2:
you recon bro, check this loans has fixed repayment CC dont, they charge you on interest of the balance unless you clear your balance. However on my previous post I did state that o ne should stay away from CC until such time they are financially matured. Its an advice though as we all fell into this false sense of enrichment when we started, myself inclusive.
Don't you agree that a store card will do o ne much good than a CC?

I have not paid interest on a credit card for more than 10 years and use CCs all the time. In fact, our summer trip has been paid for using a money transfer CC card which is interest free for 24 months. Of course I've paid the associated fee but that was about £140 only. I'd always take a CC over a loan as long as I need under £10k.

You are right though - CC is not free money and it is necessary to be very prudent in how one uses it. CC also gives purchase protections that loans do not give. There is a place for both.

For clarity - if you have to take credit where you pay interest then go for a loan as interest rates are almost always much lower for loans. However it is easier, way, way easier to get a CC than a loan.

Mamatukwas:
Sis. I’ve been thinking about this. Why are you paying for extra lessons in English? Maths I get but not really English. Especially as it’s their first language here and most kids speak it really well.

Am I missing something?

Writing and evaluating in English is a different beast. For a long time we did not mark SPAG (Spelling, Punctuation and Grammar). Now we have started grading SPAG at GSCE and A level in all subjects. We still don't take away marks for SPAG (that was how we used to mark) but will not mark down. It sometimes is the difference between a C and a D.

domin8:
Evening UK Parents, what are your thoughts on Kumon? I am not sure I have seen it mentioned anywhere. Thanks.

Kumon is good but instead of paying out for someone to hothouse your child, do it yourself by using Khan academy. It's the same learning principles and you are in control plus it's totally free and enables your child learn how to complete tasks without direct supervision all the time

Specialtee:
Hello everyone,


However, I notice that there is a particular teacher in his class who makes all these reports and when I probed deeper, I discovered that she is not really extending the same grace to my child as she would to other children. Yesterday, she blamed him for doing something he did not do, even when he clearly explained how it was not his fault. She kept telling him to admit he lied and he said he simply told her, I'm sorry if you think I lied. My son said she is more patient and kinder with other children and lets a lot of things slide, but with him, she is so hard.

How do you deal? My son is 10 by the way. I will appreciate as many comments based on your own personal schooling experience with your kids.

1. Ask your son to start keeping a diary - it will not only help with emotional self regulation but will enable him see patterns and help you build a picture and collate evidence should you ever need it.
2. If and when she tells him off, he should request an advocate, including his peers if necessary.
3. If he can, he should call her out on her picking on him. Very politely ie I have said I didn't do it. Why are you insisting I did?

Most people in the UK are more afraid of being labelled racist than being racist. So one of the fastest ways to nip it in the bud is put a name on it and watch them back track so fast. It will also alert others to the fact that you won't take this lying down.

So even though Sept is not far away, secondary school is a lot more vicious than primary school. Do not go speak to the teacher yet. Write out a letter, laying out your concerns - factually. Remove every emotion. Talk about how it is affecting the emotional and mental health of your child and by extension you the parent and the rest of the family. Be succinct. Add examples.
Then state that you know it's possible children may misconstrue actions and words but you want it brought to their knowledge that this is how your son is interpreting her actions. Therefore you are bringing your concerns to them. It is not acceptable for a teacher to covertly and overtly pick on any child and you would be doubly disappointed to find out it is race based. End it by saying you are totally open to conversations and strategies to support your child and the school so they should contact you at their earliest convenience.

I would sit and draft the letter with my child then edit and read through the final together. Email it to the head teacher and keep a copy for yourself should you need it down the track.

I wish I could say it gets easier when it comes to racism. It doesn't. We just develop better coping mechanisms and we need to ensure our children have those mechanisms to cope and push back. Hugs!

otabuko:
Education.
I applied for the Wellington doctoral and scholarship. But they decided to give me an unfunded admission... What do you think bro!

It can be quite difficult to get a funded offer. Some of the colleges offer scholarships but the universities mostly do not unless for e=very good reasons. There are few universities and many applicants.

I work in education as well. Shout out when you get here. There are a good number (less than 100 I think) of Nigerians in Wellington

Lexusgs430:
Grants immense privileges, then after the death of her husband....... Kick her out without any remorse or consideration......

And excludes the female gender, from inheriting her father.........

Or have I just imagined this ...........

Shave her head, make her wear black for 12 months and stay isolated, sometimes forced to drink the bath water from the corpse... and not only in the East...

Kom, kom, kom! Banging the drum for New Zealand again o! A new, direct PR pathway has been created. Only 2 years to PR and it doesn't expire!

https://www.immigration.govt.nz/documents/media/the-green-list-simplified-applications-and-residence-pathways.pdf

Viruses:
Why would you bother yourself with the thought of legal protection before marriage?
You dey budget for bad thing for your salary?

Why not? It is very prudent to do so! It doesn't mean you don't believe in the sanctity of marriage.

@Lexusgs430 yes - the oyinbos always had dowries in the long forgotten past.

To be fair in almost all cultures then, women were chattels and all marriages transactional in one way or another

Breazybeatz:
Great. Thank you sir/ma

One more thing, what if one gets a job while job hunting?
Can one work on the visiting visa from there?

It's rare (not impossible as who knows) for a Nigerian to get a work visa here without at least a degree of some sort and some work experience. You can job hunt on a visit visa but must switch to an appropriate work visa before you start work

AskGod07:
Thanks for your response Ticha , is it possible to go through paper application and submit at VFS global service at Lekki? Because I was going through VFS website and I saw they wrote it that someone can download the application form fill it and submit it along with supporting document?

Please do you have all the total fees incurs for the visitor visa?

Also how can someone secure a job in NZL? Do they have a job site for job seeker like UK to see a sponsorship employer?

Please kindly guide me through

Thanks bro

New Zealand does not have any visa offices in Nigeria. The nearest one is in South Africa. I strongly suggest you read through the website because it's obvious from your first 2 questions that you haven't done so.

The best job site is www.seek.co.nz and yes there is an accredited employer list which again is on the INZ website. New Zealand is one country where they make it easy to find all the information you need about visas on their immigration website. Even their applications are all online based.

Accredited employer list here - https://www.immigration.govt.nz/new-zealand-visas/apply-for-a-visa/tools-and-information/tools/accredited-employers-list

They have just today also made sweeping changes to visas (student and work) which although announced about an hour ago, has all been detailed on the immigration website - https://www.immigration.govt.nz/about-us/media-centre/news-notifications/nz-border-fully-reopening-july-2022

AskGod07:
Please I’m new on Zealand thread and I want a first hand info how to apply for New Zealand tourist visa ?

I mine going to fill online form first?

Is VFS handle the visa application of NZL ?

https://www.immigration.govt.nz/new-zealand-visas/apply-for-a-visa/about-visa/visitor-visa

Has all the info you need

TheGuyFromHR:
If Morrison wins in Oz in 2 weeks' time, negative gearing and all that is set to continue for the foreseeable future.
Time for a correction in the housing market. It's becoming necessary. Canada has temporarily banned foreigners from buying. UK needs to do the same as a minimum first step as well.
Ultra-low interest rates are probably on their way out, however slowly central banks might drag their feet.

Definitely - NZ doesn't allow anyone without PR to buy a family home either. Foreigners can only buy land to build apartments or commercial developments and must apply to the Overseas Investment Office for clearance plus proof of funds, have a team on ground etc.

Interest rates are most certainly climbing. There seems to be very very few sub 2% interest rates in the UK now. In NZ, we're looking at 4% and above! Last year we fixed at 2.39%! Our floating rate (offset account) went from 3.15% last January to 5.25% last week! Luckily, we have funds in it to offset the interest. Once we draw that money down, we'll fix it!

dustydee:
We moved into a new build 2 years ago and currently, similar houses in the same development are going for close to 50k more, how does that work? I do not expect that much for ours since it is no longer new.
I agree with the parking space. When I saw our drive, I wasn't sure our car will fit. Why do they build like that? You park your car and can't open your door wide.
Luckily we don't have noise issues and the building seem to be well insulated. Our community is also growing with new amenities like an Aldi and soon a GP and other shops. Hopefully that will add value to ours.

The COVID effect which seems to be be affecting property prices all over the developed world. Economists say it's because being cooped up means people have saved more money, stopped houses from being built (lockdowns, disruption to shipping and supply of building materials), stopped people from moving and therefore there's more money floating around and it's fuelling house a property price increase. Who knows? The market is bonkers here in NZ as well!

However even if you sell for 50k more, that won't translate to 50k extra in your pocket and you'll also pay more for your next one. The last 2 years seems to have thrown everything into kilter. It'll be interesting to see what the current high inflation brings

New Builds To buy or not to buy[b][/b]

(Pros)
Energy efficient (6 times more energy efficient than old homes)
Brand new – you’re usually the first or 2nd owner. And if it’s the show home, you can actually buy a fully furnished house.
10 year builders’ (NHBC) warranty – covers only structure and electrics after the first 2 years.
Usually no chain. Can buy off plan to cut costs or buy some of the very last ones to get a discount.
Small easy to maintain plots
Smaller spaces so easy to heat
Everyone moving in is new so no established community and might be easier for newcomers (immigrants etc) to fit in and make friends
Can negotiate lots of things with the developer – can choose your own colours, kitchen, carpets etc (for more money of course), get stamp duty paid, solicitors fees etc
Help to buy and First Homes is only available on new builds
Minimal maintenance on structure for the first 5,6,7 years or so – roof, gutterings, boilers etc
Fittings are of high quality – kitchen appliances, sanitary wear etc all will be newer models

(Cons)

More expensive and builds often over run (average difference in price is 55k according to DataLoft)
Much smaller on average – often overlooked. Minimal parking, small gardens, cannot extend or add value. You have to wait for the equity to grow through paying down the mortgage or the passage of time.
Thin walls – carries noise more. Lower ceilings – for easy heating. Open plan living areas – could be a pain. Very little storage spaces
Build quality can sometimes be poor so there can be ongoing snagging.
Much more difficult to spot issues initially and you have to go through the developer to remedy. Once you remedy yourself, it voids the developers’ warranty.
Very restrictive covenants which means you can’t make changes to the structure and sometimes even small things like not changing the front doors or windows etc
What you buy off plan might not be exactly what you get when it’s built.
Usually built away from the centre so shops, schools, restaurants and amenities can be some distance away.

soje1:
Hi Ticha,

Thank you for being helpful.

I just got a PhD admission into Lincoln University New Zealand to resume in February 2023.

I have a sponsor who is my brother, however, I would like to know if he must have the actual NZ$15000 or they are mostly interested in the inflow and outflow of cash in his account.

Also, I would also like to know how many months statement of account I would need to present.

Thank you.

They often want to see the whole amount and it's usually a month's bank statement. However all this was pre-covid and pre - the visa reset so email INZ and ask. They are very good with responding. Plus their phone lines are usually open till 10pm which is 11am 9ja time so should give ample time to call.

otabuko:
Please kindly advice, I was awarded a place for PhD without funding but I filled for funding. If I find myself. Will I be able to get a job that will pay back my money and make gains?

Maybe, maybe not. There's no guarantee of work. Minimum wage is $19.20 per hour and you can only work 20 hours a week in term time. Check your fees, cost of living and deduct that from whatever you might earn using a baseline of min wage.

Kassidy4luv:
Greetings All,
I want to know about the admission cycle of schools in this country.

Thanks

Check the university or college website. It'll tell you

Pearlyfaze:
Thank you our Ticha.
No Huncle anywhere. just Grace and hard work.

that wasn't what I meant. It's a British saying - Bob's your uncle! Just means you're good to go!

HollyMadison:
Thank you.

Do you know the requirements for agreement in principle? Do you know if 0% or 5% or 10% or 25% deposit of the property value is required to get the agreement in principle? I just like to get official and unofficial answers.

You're buying to live in right? Then it's usually 10% unless you're going for the government 95% mortgage scheme then it's 5% but only specific banks offer that.

specialenvoy:
How about the energy efficiency that a new build gives with most new builds on EPC of A-B. Can one upgrade all these old builds to these EPC levels?

Our old house (about 90 years old) has an EPC of B. Mainly because we gutted and renovated it. It's reasonably easy enough to check those things before one buys. Agents have to provide an EPC certificate anyway. My FIL's house is over 200 years old and very warm - it's too hot in the summer although to be fair, it's cold in February but we love it! It's been completely renovated and well insulated.

Be that as it may, I'd actually take a large old house with proper garden space with a lower EPC over a newer smaller house in an estate with a higher EPC.

Other people may prefer a newer home, warmer home, close to transport links home. It's all choice really at the end of the day.

PS - I didn't quite answer your question. We have underfloor heating throughout the ground floor (wooden flooring), have an open fire with heat transfer upstairs as well, we lined the walls when it was being renovated, changed to double glazed windows (the original windows were single glazed), all rooms have radiators and we insulated the loft (lined and completed battened down).

However, I do absolutely hate new builds. Like from the very bottom of my heart full on hate them . So that bias will always seep through.

Pearlyfaze:
Our Ticha and other Ancestors, Please how long do one need to be in the YouKay before he/she can start looking for/start Engaging Mortgage Advisors in order to enter property ladder.
This may will be our 5/6 months old here, Assuming we have Deposit now, can we start hunting?.

For first time buyers who lives in the village like us, Do you advise we go for new build or old build.

Thank you for your kind advice.

The earlier you start the better. Usually the biggest obstacle is the deposit so once you have that, Bob's (We need a 9ja name) is your uncle.

I hate new builds but that's me. There are pros and cons to both. My biggest issue with new builds is that they carry a price premium, usually smaller rooms and plots and the area is stark ie no trees, plants etc as they would have been chopped down to clear the site.

If you have school aged children, you can't go wrong by buying in good school areas regardless of new or old. Sometimes in a hot market like the current one, choice also gets taken away from you.

HollyMadison:
Gurus, elders and newbies…

I came in June 2021 and I’m getting mortgage interest rates between 2.5% and 3.5%… what do you think about the rates?

If you don’t mind sharing, what’s your mortgage interest rate?

Any tips to get lower rates? Even as BOE dragging us back

Past interest rates are not really relevant as the rates are climbing. We re-mortgaged for 1.18% in Sept last year and fixed for 5 years. That rate is not even being offered anymore regardless of LVR! The best way to lower your rate is up your deposit. However remember you then won't have access to that money at all till that house is sold or re-mortgaged if it has appreciated in value.

Take the lowest rate available now as that may well not be available in 2 weeks time. Even if you move houses, you can usually port the mortgage and rates as well. The biggest thing will be deciding to fix for 2/3/5 years. Pay attention to the early repayment charges especially of you have plans to move within the next 3 years.

mamatwiny:
Wow. What do you lecture? Accounting?

English and Health and Social Care

Iruosonobrugwhe:
Dear Aunty Ticha the teacher, how do you like your massa, balangu and kunu?

Please organise zoom session.....we the masses are begging. Even for a fee, use the proceeds and buy off nairaland

Na only massa and kilishi I want! I will strongly consider it.

OgbeniOptional:
Please Which Janus are you talking about? The one I saw online was founded in 2017 which is about 5 years now? Or is it Janus one and not janus Henderson? Also, which of this organizations is suitable for let’s say £6k monthly income household?

Henderson was founded in 1934 - https://en.wikipedia.org/wiki/Henderson_Group. Basically my point is that he has been with the same fund managers for over 30 years so they're a known quantity for us.
Hargreaves was recommended by our accountant and tax advisor.

Unfortunately, I can't recommend any fund managers - I do not have any financial services quals to give advice. I can state which ones we use that's all. What works for us may not necessarily work for you.

jadepinkett:
Hi. Can you share a link where we can get more info on this and possibly start an investment?

Janus Henderson and Hargreaves Lansdown are just companies/ organisations that people can invest through and they manage your funds for you. We did research and chose the ones that would work for our situation and fit in our plans. There are a gazillion fund managers out there so it pays to really check them out. The manbot has had the Janus one since he was 3 years old and he's now in his 40s (it's now a joint one).

In response to someone else, I added links to read about trusts etc and why people use them. You may have go back some pages to find it.

Adapapaokoye:
@Lagosismyhome
@Tisha

It depends on what you want to achieve.
Do you want to put away the money and not access to it at all till the children access it?
Do you want to be able to dip in and out of the funds?

We for example set money aside that the children can only access when they're 18 so we put away money in fully managed stocks and shares. It means we cannot access it at all no matter what happens. It's a pay in and forget about it till they get it.

From my research, ethical funds and socially responsible funds have almost the slowest growth and I'm not about all that yet. Maybe when I hit my millions

Sunnepa50:
Pls what do I need to relocate to NZ pls
Myself and my wife

https://skillshortages.immigration.govt.nz/

Your best bet is work your way through that list and apply directly to employers in those fields if you have international (UK/ US etc) work experience in those fields. Or if you can afford it, get a visit visa and come talk to them face to face.

NZ and Aus run talent recruitment expos in the UK so it's worth checking if they still do them and go to one.

If you work at a multi national company with a branch here, seek a transfer (we came via an internal work transfer)

mizGene:
Omo!
I'm short of words! This is so insightful!
I'm particularly interested in this topic as I am already thinking and planning retirement now. The trust route is an interesting one I would like to explore and understand better....will have to do some more research on that.
I find it also very fascinating/admirable/inspiring that the people can still be trusted as in the case of pooling funds with the other couple....if people can be honest in their dealings, there will always be more to be more gains in working together..

Thank you for always taking your time to share knowledge even though you are not obliged.

We've heard of trusts but I thought one had to be at Bezos level to have one
The financial advisor (he's also a tax specialist) was very good at explaining everything to us and all the different ways we could structure our finances for the future. He said the best time to start succession planning is at the accumulation stage which makes sense. Basically look after the pennies and the pounds will sort themselves out.

With the pooling of funds, we sat with a solicitor independent of both families and drafted an agreement before we went ahead (the monies was presented to the bank as gifted). Then with a broker to work out how much each family could borrow based on the monies we had.
They contributed more initially so the agreement was when we sell, the funds would be split 60/40 in favour of them so we each had enough for a deposit in our own right. The property market then completely took off and we didn't need to sell so remortgaged and pulled out more than triple what they contributed and gave them everything we pulled out. There is definitely more gains to be made working together.

Fortunately and unfortunately, the property market has started cooling but rentals are in crazy high demand (government as usual tinkering) especially now the borders are officially open. However, we are targeting a completely different rental market. There is a huge lack of social housing. We have record numbers of families (24k families) in shitty temporary accommodation (hotels, motels etc) so that's our target market. Families sit on housing waiting lists for up to 3 years The government will pay market rates to private landlords and take a repairing lease. So they're fully responsible for all damage caused by the tenants and have leases of 5 and 10 years.

It's the same in the UK as well. Housing associations will rent from private landlords and put social housing tenants in them although they cap the rents in the UK but it provides a solid rental income with minimal hassle.

I have acquired a lot of my knowledge from people sharing with me and guiding me to the the right places to look up stuff, talking through their plans and sharing their ongoing journeys. We can only grow by sharing the same knowledge among our people.

midasfx:
Hi Ticha,

Many thanks for taking the time out to share.

Can you please explain a bit further on the highlighted part? Are there particular shares/funds/stocks you’ve in?

We went the easy route and picked one of the multi manager funds but a mid risk one rather than an accelerated growth/high risk fund. We really don't want to be managing the funds/ portfolios ourselves. We'd rather invest and forget till the children access it.

Breazybeatz:
Sir


How're you doing today?

I quickly want to ask if it is possible to work with a Tourist Visa?

And what are steps one would need to take yo do that sir?

Thank you

No you can't work on a tourist visa. You can job hunt though.

dustydee:
Thank you very much for this insightful post.
On the trust, is it something you setup with a lawyer or did it come with the investment you chose? My insurance offered me some kind of trust for my life insurance but it's not quite the same as what you described. Please do you have links I can read up on how to do this or can you share, if you don't mind.
On a lighter note, why husbot? is it because your wish is his command? I am asking because I want to know if I am one too to madam

Haha he calls me the wifebot so he's husbot

We specifically went to Financial Advisor and a tax accountant. The trust wasn't even something we considered until we started discussing the structure for the development (ie hold in own name, in a ltd co, trust etc). They were able to break down the tax implications (personal income tax, CGT, IHT, corporate income tax) and for future succession planning especially as we don't want the children falling out over who gets what. Then future planning re- divorce entered the matter.

The tax accountant set up the trust, then a lawyer (with trust experience) drafted the deeds/clauses and the accountant registered the trust. The first question we were asked was if we wanted our assets to be dispersed at our deaths. The accountants will run the trust in perpetuity so they are corporate trustees of the trust. Because we will also be paying tax in 2 countries, we had to go for proper specialised advice that covers both countries. Tax in UK is a killer sha. Inheritance tax alone is 40% of your estate if your financial affairs are not properly set up.

https://www.moneyhelper.org.uk/en/family-and-care/death-and-bereavement/using-a-trust-to-cut-your-inheritance-tax#

https://www.which.co.uk/money/tax/inheritance-tax/inheritance-tax-and-trusts-a8x4k7z0kspg#headline_4

https://advisingfamilies.org/uk/category/information-portal/planning-ahead/