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Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 1:31pm On Jun 23
teeebest:


Thank you as always Ticha. No kurukere o. We got 85% LTV with Barclays but we can only afford 10% deposit hence the reason for resorting to a broker. We are 2 years 4 months in the country and we are on work visa.

Check with Halifax...10% LTV with family combined income of £100k....

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 11:41am On Jun 23
Ticha:


That's shocking behaviour from the broker. Absolutely go with another broker.
PS - why do you need a broker? Unless there are some kurukere movements in your credit and personal history, you can go directly to your bank (if a mainstream bank)

Madam Ticha...you don sabi all the naija slangs...
Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 10:45am On Jun 22
Lexusgs430:



Glad when people take the plunge, and buy their own properties......

Why do you want to continually pay your landlord's mortgage, when you leave the property, the landlord wants to inherit your deposit (by fire, by force)........

You pay rent of £30,000, zero % equity appreciation heading your direction, you cannot hang your television on the wall (if holes not already present), when your children paint the walls with crayon(your blood pressure is elevated), when carpet is stained(you start suffering from tachycardia)......🤣😂

Its always good to work towards home ownership.....
Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 8:06am On Jun 22
Lexusgs430:



Still does not change the level of accusation ........ 😂


Rent money is dead money jare......l am so happy the numbers of home owners have increased here....lets keep it up...

2 Likes

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 6:20am On Jun 22
justwise:
Good morning people, what did i miss?

Welcome back Boss

You scared me oo


Dey tell us when you want to go holidays please
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 2:14pm On Jun 09
Lexusgs430:


You no even allow madam rest........ 😂🤣

Na school years oo.... grin
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 1:13pm On Jun 09
Lexusgs430:


Sir Joseph's, Holcombe grammar,Rainham Mark Grammar School ..... All this in Medway.......

By the time you expand into Kent county, nah you go tire .......

I would say Kent county has over 30 grammar schools, the largest in the whole of England .......🤣😂

Yes.....
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 12:16pm On Jun 09
Lexusgs430:


Simply navigate to the investment part of Monzo, either put in savings or investments (with investments funds are used to buy ETF's). Depending on your risk appetite on type of investments........ I am set at maximum risk....... 😜🤣

Make him buy Microsoft shares and Visa shares using the Stocks and Shares ISA...5 years later, compare the result of the investment

3 Likes 1 Share

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 12:14pm On Jun 09
fatima04:
@mamatukwas. You can check out Royal London. We have been using them for 4yrs with very minimal changes. Remember to explore the option of putting it in a trust, and also not cancelled by your employer's cover if being provided.

Yes, we use Royal London Insurance too... Everything is in a Trust too..

2 Likes

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 12:13pm On Jun 09
Lexusgs430:


Absolutely........ If you put your child in a private primary school, they coach them as part of the fees you pay .......

But if you are from Ijebu like some of us, put your child in public primary school and get a teacher or do the coaching yourself........

We are couching our children (years 4,3 and 1)... We live close to you grin... Na Grammer schools we de target

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 9:57pm On May 30
Lexusgs430:


Are you Investing using a SIPP vehicle........ This is probably another wonder (only drawback is you pay a yearly charge to provider + you can't withdraw till you reach retirement age).....

Plus of SIPP - HMRC pays your 25% towards each deposit......
Minus of SIPP - You pay about £120 per year......

No ooo

Using Freetradoe and Trading212 .....S&S ISA

I do individual stocks after due diligence

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 9:38pm On May 30
Lexusgs430:


Not all lenders accepts overpayments, so speak to your lender enquiring if you can make overpayments........

Let's assume they accept overpayments, call your lender give them your debit card, so overpayment can be charged .......

OR

Collect your lenders bank details, using your mortgage number as a reference, then simply transfer.........


what I did in the bolded....shortened the term by 7 years with £250 monthly overpayment
Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 9:35pm On May 30
Lexusgs430:


You can still do all this, without releasing equity....... 🤣

This is simply to encourage people and not show how poor I truly am...... With hardwork and dedication, if I could make it happen, anyone can...... 🤣

This is from my ISA account, I have other exposures to the stock market.......

This is what I like to see.... Stocks and Shares ISA.....one of the wonders any UK Migrants should not miss........currently near £70K minus LISA account


......Slow and steady INVESTMENTS win always.....

2 Likes

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 9:32pm On May 30
Lexusgs430:
The importance of LTV....... When I purchased my family home 2005 vs loan to value in 2024........

Just close your eyes, remain consistent, be patient...... It's never a sprint, but a marathon.......🤣😂

Well done BABA....Following gradually
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 8:50pm On Apr 07
2024/2025 Tax Year Allowances

2 Likes 1 Share

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 6:55pm On Mar 28
Lexusgs430:


I have heard people do it, but they did not have anything good to say about it ......

Remember, you would require consent from your mortgage provider, prior to mounting those panels......😁

https://www.moneysavingexpert.com/utilities/free-solar-panels/

Thank you Boss....

Let me use the funds to buy more NYSE stocks..... grin grin grin

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 8:44pm On Mar 25
Any one invested in Solar Energy and Batteries please?

I am thinking of going solar panels and batteries and go off the national grids. I may even sell the excess energy l will generate to the national grids and get paid by the energy companiesgrin grin

At Lexusgs430 et al.... Advice please
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 8:22am On Mar 13
hustla:


Will be interesting to see in the next few months. I have searched and searched and this is the only country boxing immigrants into living a life on minimum wage. The effects in the next 7 - 10 years will be insane as most migrants will be stuck at the lower end of society and representation at the upper ends will be further limited (that is where I want to see fellow Nigerians)

The good thing though is that the £38K thing does not affect those who have just graduated but I see a sizable number of Nigerian students leaving the UK (a lot have left already or are planning to leave) as most of the policies are downright sinister and meant to restrict your upwards mobility.

That is exactly why I am always against the care thing or staying too long in it, as I see it as a carefully crafted way to push you into being lower class all your life, which will likely affect your kids too unless careful planning is put in place. Long hours away from family, low pay, and interactions with mostly low-class white people who are all out to drag you to their level, eventually it gets to you and your kids by extension.

I expect things to free up a bit within 1 yr and changes to be made, maybe a bit more stability smiley

I like your thinking and mindset.... Well done

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 8:18am On Mar 13
Lexusgs430:
https://www.telegraph.co.uk/money/property/mortgages/interest-only-mortgage-paid-36-years-still-lost-home/


Dangers of interest only mortgage.......

Na interest only na... You want claim house you paid interest only grin
Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 8:17am On Mar 13
Santa2:
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?

Through the advisor... What l did

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 8:16am On Mar 13
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 🎉 and welcome to your new home 🏠
Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 7:29pm On Feb 29
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 🎉🎉 and welcome to the property ladder 🪜

RENT MONEY IS DEAD MONEY according to oga @Lexusg430

Next is to start buying quality Shares in NYSE via Trading212 stocks and shares ISA account... Oga Lexusg430 should start preaching Stocks Investment too grin

2 Likes

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 7:10pm On Feb 29
LagosismyHome:


Wow some old names still very much active here.... nice one

smiley cheesy grin

Long time... Been a long time

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 6:27pm On Feb 20
Lexusgs430:


The only insurance you really need are.....

- Building and content (should not exceed £22 pcm)....

- Life insurance ( depending on age and health status), possibly £18 each or near enough.....

Adding building and content insurance to your car insurance reduces the premium very well.

2 Likes 1 Share

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 12:26pm On Jan 21
Lexusgs430:



Hold on, why are you maxing LISA ........ You no longer qualify for FTB status......... Abi nah hangover dey worry me .......😁🤣

You can continue LISA contributions after FTB.... King Charlie is happy for us to continue saving in LISA after FTB till age 55
Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 7:15am On Jan 21
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...

4 Likes

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 7:11am On Jan 21
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...

4 Likes

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 10:32pm On Jan 09
Estroller:
For those that are yet to complete, follow up with your brokers and lenders to see if you can make some savings as rates continue to drop.

Good I did 2 years with Halifax....hopefully we shall get < 3% or 3.5% after 2 years.... cool

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 10:21pm On Jan 09
bigtt76:
Thank you for what you do and congratulations on your new house.

My questions are as follows

1. Do you think an apartment in Leeds is worth going for? I work in the north together with my hubby
2. Do you think a house of £379k (semi-detached Leasehold) is worth going for on a combined income of £4.6k monthly?
3. The service charges is £988.00 per annum - is this ideal?
4. Property developer also noted that they are compelled to give up ownership to a third party in the future ....how does this affect me?



No gree for any LEASEHOLD ooo....Go for FREEHOLD a beg
Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 2:54am On Jan 06
jedisco:


Congrats. Kinda stuff we need to hear.

I Completed last month. Variable 5.61 (0.36 abover BEBR). The difference a month or two makes. Most of the 2yr fixes were abv 6% and couldn't justify fixing when rates were likely at their max. Now can't wait for rates to start falling.

Your rate seems quite good. Best I see on Barclays for 2yr fixed is 5.6%. Did your broker negotiate the rate

Congratulations 🎉 to your new home 🏠

More celebrations

1 Like

Travel / Re: Living In The UK: Property,Mortgage And Related by ukay2: 2:54am On Jan 06
zeke100:
TESTIMONY TIME 😁

COMPLETION DONE AND KEY IN HAND

Barclays 5.4% 10% deposit with 2 years in the UK.

It will be ungrateful not to appreciate all the knowledge, nudge shared on this platform. As a silent reader for 2 years, following keenly, I appreciate everyone contributing to the topic.

Special thanks to Lexusgs430, taking his time to reply messages when contacted and even enlightening me with scenarios over the phone.

To anyone hesitating, It is possible.

Congratulations 🎉 to your new home...

More celebrations

1 Like

Travel / Re: Living In The Uk-life Of An Immigrant (part 3) by ukay2: 1:24pm On Jan 01
Ukliving:


Which platform do you use please

Trading212

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