₦airaland Forum

Preshyi:
E don set o, 6 months into paying rent in this obodo oyibo and they are already increasing it. Asking if we are happy to go ahead on top the matter. Happy ko. We don come be say we don come shaa. Abi is there a way to contest the increment?

You can refuse but be ready for a section 21 whilst they can still use it. A good way of refusing could be showing comparables (dicey as rents are at record high rates), suggesting that as you've been a good tenant, it'll be good to be rewarded with some predictability for 12 months or so. You can also choose to ignore it and continue paying the old rent

Cherechijavan:
Please someone should check this visa,if it is authentic and legitimate,cos my friend is about to pay 1.3 million for this

He should call INZ and ask them - +64 508 558 855. They close at 10pm NZ time
Borders are still not open o! My 9ja people no dey hear word.

Adayoung:
Hello guys ,will a person be able to qualify to use LISA to purchase first home in Uk if he/she already owns a property in Nigeria?

Keep scthum about a house anywhere else. Who wan check am?

Longneck:
How about Auckland institute of studies
want to get a one year diploma in information technology
will I get a post study visa after the programme?

For now the post study visa still exists. If you want to aim for the post study visa then study outside Auckland as that gives you a longer post study visa. Check the EER report of any educational provider you're looking at. If they're a category 1, you're good to go employment wise. Just google EER and name of the provider, results will come up from NZQA

yankison:
Why is the threat dead. I want to come into nz please what is the neat way for me .. im not that rich but im ready to study all this care giver certificate

Care giver cert and visa is for the UK so you may need to rethink your strategy

Samueltemi337:
Is vision college a good school to apply for a Diploma in early childhood education in new Zealand?

Sorry just saw this. No - they're not bad per se. Just that employers won't rate thm. Stick with the Te Pukenga subsidiaries - UCOL, SIT, UNITEC, etc and or NZMA or NZTC.

kaylov12:
I will like to ask the house who bears the cost of damaged fence.

Eunice broke my fences on both sides, do I or the Landlord bear the cost.... Waiting for responses...
Thank you.

Landlord

mizGene:
Nairaland should really have a mute button....smh.

Good evening to everyone.
I have a question...hoping someone can provide more clarity for me.
I'm hoping to get on the property ladder asap and was playing around with the mortgage calculator on rightmove. I noticed something curious- if a house is 600k and deposit is 10%, monthly mortgage could be circa 2500 but doubling the deposit to 20% only marginally reduces the monthly payment to like 2200 (these figures are not exact please).
What gives?

The biggest chunk of the repayments for the first couple of years is the interest. So if it's owner occupier, use less deposit and use the extra money for something else that will generate an income.

kode12:
@justwise, @ticha, @lexusgs430 et al.
House, does anyone have recommendations on good mortgage brokers?
I’m looking for a lender but these people are a pain if you don’t have five years history in the UK. A professional might be able to work some magic.

Ed Wales ed@mcbfinancialservices.co.uk
T: 01603 864760 | M: 07709 316927 | DD: 01603 964924 | W: www.mcbfinancialservices.co.uk

Ezra Le Mon​
Ezra.LeMon@JohnCharcol.co.uk
020 3334 9967

Those are the 2 I use. Ed is free but Ezra charges a fee. Ezra deals with my more complicated mortgages and being a 2nd generation immigrant, he's is more on the ball dealing with visas, multiple streams of income from different countries etc.

HollyMadison:
Hi Ticha and other gurus,

Please I need info on property investment.

Can i use HTB or 95% mortgage & LISA to get a HMO if I plan to stay in one of the flats?

No. That will be BTL and you need between 25% to 35% deposit amongst other fees.

deept:
If you have a break agreement in your tenancy you just need to give the Landlord the required notice else you will be liable for the full rent. Refer to link below..

Don't quote me on this but I think there are protections for tenants to break lease by giving the landlord notice one month I think. You know how the government likes protecting regular people vs. Landlords

Refer to:

https://www.gov.uk/private-renting-tenancy-agreements/what-should-be-in-a-tenancy-agreement

Only applies to a periodic tenancy. If it's fixed, you're liable till the end of the fixed period. Any non paying tenants, I'd do a MCOL and ensure a CCJ also follows. At least the CCJ drops off after 5 years but will show up in any extended credit search. A MCOL remains till it's paid off or written off by the person owed.

Lexusgs430:
If you have multiple, good.... If you only have one nko......

Than na repayment straight. Banks would not usually lend on interest only for owner occupiers anyway. Northern Rock issues put a stop to that

For those interested in a direct route into property and real estate. Open to adult learners too. And for those with 17/ 18 year olds - a fees free way to acquire work experience and a degree in one hit

https://www.barrattcareers.co.uk/early-careers/higher-degree-apprentices

Lexusgs430:
But you are also aware that, once the interest is the basic expectation.........

Majority of people would simply become forgetful, until 2 years to maturity....... Alarm go come blow .....

Than you sell na
That's the expectation from the banks actually - that you sell. Obviously if you have 2/3, you can always sell one to pay down the others.

Lexusgs430:
We talked about this on the previous thread, avoid interest only mortgage deals ........

It's a disaster, suspended for the future .......

It's a BTL though so it doesn't really matter as long as the rent covers all bills associated with the property (interest, agent fees, EICHR, GSC and tax). For own home, repayment is usually best

Gorgeousqueen:
Please, I would like to ask which is best for buy to let . Interest only mortgage or principal with interest mortgage

For cash flow purposes, interest only is best especially if the numbers are slightly tight and if you want to scale up. Remember that any money you pay on capital repayments, you won't get back till you sell or remortgage and that is not even guaranteed in areas with low capital yields.

omopapa:
Based on the information on here especially on accommodation request, which city would you invest in student HMO?

Majority here seem to want single lets rather than shared accommodation. Some of the issues with funding a HMO are entry costs (all local authorities have special licensing requirements for HMOs which are financial), fully furnished rooms, lowish rent (again see requests from the posts on here), higher turnover of tenants (can't stand flatmates, move into a studio which sometimes is same or just slightly higher than a HMO room), fully inclusive bills (and where not inclusive chasing tenants upandan) and the biggie of them all minimum room sizes (licensing will get you even if you fly under the radar initially). Before you add higher interest rates (a lot higher for HMOs than single lets, upto 2% more in most cases), a higher deposit (25%- 30% is the norm) and associated mortgage fees (application fee of 1% of the loan is about standard as well)

Then you will be competing with university owned student flats and neighbours who will absolutely hate you the landlord and put in a gazillion reports daily .

If you want to go the HMO route, best plan is to buy an existing one rather than convert. 2 buy a completely run down one so you make the money upfront once you bring it up to scratch. 3 get all the tenants on one tenancy - that means they are all liable and if one leaves, the rest are responsible for the full rent and bills

mex551:
Please how do one buy Meat from abattoir. Where do I find one in Coventry? Do they sell to individuals? Thinking of buying in large quantity as its cost effective

Your best bet is the market is Birmingham - next to the Bull Ring. Go around 6am and you can buy everything in bulk. I used to go once a month and stock up my freezer

kode12:
You na Albert Einstein of financial management

we no come UK to help Mama Charlie count bridge o. I have to say that I landed on my feet by meeting a very wonderful guy (no didn't date or marry him ) who gave me financial tips and guides from very early on in my immigrant journey. I bless him and his family (especially his wife who didn't decide this single gal was after her husband) everyday

hustla:
How do you check when it reflects on the the credit report?

Can I use it to buy something online and then resell on ebay? Will it affect my ratings?

It will reflect regardless of when you pay. What the CRAs record on is how exposed you are, defaults (late payments, non payment etc) and what new credit you apply for.

If you have a reasonably good credit, apply for an interest free spending or money transfer card then use those funds to trade.

If it's a money transfer card, the funds get transferred into your account (You must not spend on the card at all cos that will invalidate the interest free period)

If a purchase card, my advice will be to use as much of the credit and then start paying it down.

Both cards will come with an initial admin fee of 1-3%.

For example - we have a huge expenditure coming up which we have saved for anyway - we're returning to the UK for 8 weeks this year and about to pay for flights. I've applied for an interest free money transfer credit card and bought all our flights (card limit £14k, flights £9k) and have transferred the remaining £4k into our shares (it's currently 2.2 NZD to £1 pound so 8kNZD worth of shares). I have immediately set up a direct debit to cover the interest free period of 24 months. Direct debit is £625 a month. Remember we already have that money but instead of paying it upfront to the airline, I can budget 6 months at a time and make sure all repayments are covered and make some some extra change in the intervening 24 months from our savings and the rest of the money from the card .

I have used the same process to cover visa application and expenses costs fees for my family when they apply for visit visas, I've in the past used it to trade. You have to be very, very disciplined and not see it as awoof money.

https://www.moneysavingexpert.com/credit-cards/best-0-credit-cards/

THIS IS NOT FINANCIAL ADVICE - I am just sharing my experiences.

hustla:
Was researching in 2021 about how to go about it and most of the YT guys say you should spend only 20% of the spend limit that's on the CC

How true is this and is that what you did too?

Spend what you can afford to clear monthly without accruing interest. That might be your whole food budget plus incidentals. The biggest mistake is seeing it as accessible cash to use nilly willy. Cos it's not. Na finely crafted loan with interest

Domistic:
thanks for this. What of those above 40? What’s the way? Abi you can’t access mortgage

Yes you can. It just means the LISA is not available to you. There are several buying schemes though that might be available. Off the top of my head, there is 95% mortgages, Help to Buy, Shared Ownership and First Homes (specifically for only key workers). Do some research and see which ones you can access.

Ugo73:
Please to the seniors/gurus in the house, what's the best way to start saving for a house. I intend buying a house in the next 2 years. Thanks

If you're under 39 years old, open a LISA account. Start paring down your expenditures. You can also round up your spends and save the spare change to the nearest pound. Sell anything you have that hasn't been used for 6 months or more - cos the chances of then using it again is quite low. Get a 2nd job if you have the time (do not sacrifice family time as you'll never get that time back) and save every penny from that 2nd job. Consider saving a fixed monthly amount as well.

Remember unless you're rolling in wealth, your first home is just a stepping stone into property ownership. Be realistic as to what you can buy. Good luck!

canadaishome:
Please kindly provide more insight.
If I use £50 so I have a month to pay it in full?

Not quite - you usually have about 21 days from the statement date depending on when in the statement cycle you made the purchase. I've edited my first comment to make it clearer.

Futureukstudent:
I have a question about this credit card stuff.. I am about to apply for one but I don’t understand when they charge the apr. Is it when you default in payment or whenever you use the credit card?

From the day of the expenditure but calculated on a monthly basis from the statement date. So if your billing period is 8th to 7th - the interest kicks in from the date the min payment is due which is usually 21 days. A rule of thumb is that interest will usually kick in about 56 days (give or take) from when the purchase is made.

DO NOT DEFAULT!!!! A default sits on your credit records for 5 years. It will scupper a lot of your chances. If for any reason, you can pay it off in full, pay the minimum and let it accrue interest.

rollykotex:
Hi everyone! I don’t know if this has been discussed earlier here, because it’s been a while I came in here. I have a very big issue with mold in my house. Been cleaning and cleaning but it keeps coming back darker, bigger and scarier. I had to complain to the leasing agent and the landlord’s contact was sent to me. He handles all the repairs in his house.

Kindly advise on how to deal with the molds of you have ever being in my shoes .
I’m so particular about it because I have 2 children ages 2 and 4 and I heard inhaling it over time could cause respiratory issues especially in children and elderly.
I’m so sorry for my long post. Good evening!

The house needs to be repainted with mould resistant paint and vents put in if there is none - which is usually wipeable so double plus.
2 things - contact environmental health (be ready for your lease not t be renewed) and make a report with pictures and videos. The council will force the landlord to rectify. Or offer to go halves to get the mould cleaned and the house repainted professionally. Opening windows will not solve the underlying damp issue. That needs to be sorted first - it could be a leak or even worse rising damp (which requires the whole house to be re-plastered)

You also run a serious risk of all of you developing respiratory issues. Mould spores no be play o

Chreze:
if person separate from him wife them go give am house too?

If you end up with the kids, yes. Otherwise, you're on your own!

dupyshoo:
Unfortunately, that is the world we are in. After a while, she will be able to buy the council house at a ridiculously discounted price. It is a crime to be working in this country.

Another thing I can't explain is how come the government give those that are on benefits 15hours free childcare from when their kids are 2 year old while the option is not available for we that are working. Are we not the people that need this the most?

Since childcare is one of the biggest barriers to employment, they are given the chance you find work - not that majority use that time to find work. The other big issue is that the outcomes for children from benefit dependent households is lower, very very much lower than those of children with at least one working parent. Those children are behind in almost every aspect at the time they start school - reading, comprehension, maths, social skills etc - so allowing them to access free childcare early means that they get a leg up to meet their peers on an even footing. It's also a very convenient way of social service surveillance. Domestic abuse, child abuse is picked up way faster when the children are in a childcare setting.

StarMonkey:
Hello Everyone, thank you for all the contributions.


Now I've gotten an offer with a company in UK (London) and another offer with a company in Channel Islands (Jersey)

Honestly I'm confused and I need your advice to help me make a decision.


Thanks

If I recall correctly, taxes are lower in the Channel Islands so the £2000 difference maybe way more than you think when you take that into account. Please cross check that and don't take it as gospel. But it used to have a reputation as a tax haven

2ndly - cost of living is cheaper on the maninland because Jersey is a tiny island and majority of food and good there are shipped over from mainland England. It's a small place. You can drive round the whole island in one hour. Rents are expensive as well and you really have no choice but take what you find.

It gets very very busy in the summer as it's a tourist hotspot and prices of everything gets raised accordingly in the summer.

I caveat this by saying I haven't been there for about 6 years now. Based on what I know, I'd take a job in London over Jersey and that's saying something cos I can't stand London ��

harwe:
Welldone guys...

Please where is the best place or link for someone to buy a car in UK..

Any other link aside ebay?

Autotrader is quite good as well

canadaishome:
In my opinion and this may be unpopular, but I think giving her mom money monthly should be a choice and not an obligation especially if your wife has siblings.

I totally agree with this. She needs to get a job and send money home if that's what she wants to do.

One of the biggest mistakes we make is not being financially stable enough before we take on extended financial obligations which means people permanently keep threading water and struggling to survive.

UK wey you go starve die for your house and no one will miss your absence.

babajeje123:
Thank you all for you suggestions. Apparently, she wants me to be sending her mom money every month, that is what she meant when she asked for the plan I have for her mom. Women and their wahala! You will be striving on how to make life easier for them and they will be adding to your burden. It is well!

She needs to get a job and you both sort childcare between you. Until you're both feeling the full pinch of bearing all expenses, she won't understand. Even bringing your mum will only afford you a max of 6 months childcare. Add cost of visa, flights, settling mama when she leaves and you're better off finding out a better way to make things work for both of you.

Re - divorce no, she doesn't have the upper hand however if you're on a student visa and she's your dependant it does mean she'll lose her visa. Imagine how you'll cope with childcare and work then? Idle mind is the devil's workshop no be just talk o.