₦airaland Forum

AlphaUno:
I got ££ and need some Naira, anyone nice rate 94 available?

Do you still want and what rate are you looking at?

Lolli2pop:
Hey alake please send me a PM as well, i have pounds and i need a nice rate

Do you still want?

Also can you say what rate you are looking at?

bukonlami:
Anyone residing in Leicester, I need recommendations on air bnb please.

Everywhere is OK. Just filter by proximity to your work/school because of transportation cost then select based on price.

Poanan:
newbie abeg answer me. This money you deposited on the LISA account, can it be withdrawn if your are not ready to buy a house?

You can withdraw it but you will pay a fine of 25%.

Example:

You have deposited £4,000 and govt. has given you £1,000 (which is 25% of your deposit). You now have £5,000.

When you want to withdraw, you'll loose 25% of £5,000 which is £,1250.

Use the above calculations for different amounts.

I don't know if you can withdraw part of your contribution. I only know govt. will give you 25% and you'll loose 25% of the new total if you withdraw. Moneybox live chat is very responsive if you'd like to speak with them.

shaybebaby:
I'll add my two cents here.

BUYING COSTS.

All well and good, you have your offer accepted, deposit sorted but there are other things you need to have cash ready for.

1) FIRST TIME BUYER (FTB)
a) Solicitor/ Conveyancer- They deal with the legal aspects related to your purchase. You will need to instruct them as soon as your offer is accepted.

They will run searches on the property, liaise with the estate agent and your sellers solicitor to make sure all necessary paperwork is completed. They will also register the property purchase with Land Registry once the transaction is complete and will also be the ones to liaise with your mortgage lender on the release of funds. Expect to pay north of £1000+ which includes their fees.

b) Surveyor- As it's the biggest purchase of your life, it makes sense to ensure that the property is as described when viewed. At a minimum, get a Level 2 survey where the surveyor will be access the property and provide a general report on the condition of the house. They will also flag up any issues based on severity that either require immediate attention, such as damp, poor electrics.
A level 3 survey is more detailed and will include detailed reports on structure of the property ( imagine them lifting up floorboards and the likes)

For level 2, budget around £600- £800, level 3 will be more.

3) Mortgage application fee- Whilst lenders have fee free products, their rates are usually a teensy bit higher. Fee paying products have slightly lower rates so you may choose to go with that option. You can either pay it upfront when applying , in most cases it's around £1000, or you can choose to add it to the mortgage. This means you don't have to fork out for it but with the trade off being, you'll ve paying interest on it because it is effectively a loan.

4) Stamp Duty

This is tax you pay based on the purchase price of the property. As a FTB, you pay zero on properties of £425,000 or less. Anything over that, you pay 5% on the portion above £425k threshold.

Total- Circa £3000 in additional costs excluding stamp duty.

2) HOME MOVER

You already own a property and selling that to purchase a new property.

a) Solicitor/ Conveyancer- unlike a FTB, you have two transactions, your sale and your purchase. You'll pay for both transactions so minimum £2000.

B) Estate Agent Fees- You'll most likely have to engage one to list and sell your property on your behalf. The upside is for most, if your property doesn't sell, you pay nothing. So whilst not an upfront cost, it will be paid upon completion of sale and purchase. Some charge a percentage of the sale price, average of 1-3%, some charge a fixed fee.

C) Suveyor: Same as FTB
D) Mortgage Application Fee- Same as FTB
E) Stamp Duty- As long as the purchased property is your only home, no stamp duty is payable on properties up to £250,000. Over this threshold, You'll pay 5% on every pound over up to £675,000 I.e you pay 5% stamp duty on properties worth between £250,001 to £925,000. Gov.uk has the remaining tax bands for reference.

If its a second property i.e you'll have more than one property, you'll pay an additional 3% on the rates mentioned above.

Interesting.

Lexusgs430:
Point of correction, do you mind ....... 😂😁 28 years ago at a stretch + 3 years = 31 years in total.......🤣😁😜

Wahala 😁

I'm still waiting for the day that one post will annoy you so that I'll see how you'll react.

Following the discussion that rent money is dead money, I have seen some comments callling LLs useless and all sorts which is quite sad.

The call to get into the property ladder ASAP I believe is to motivate and encourage those that have not started thinking about it or those that thinks it is impossible to have a change of heart. That should not in any way undermine any landlord in the property business just like every other businesses making money out there.

There is no under bridge to stay pending when we get our own houses so the landlords too play a role here; so quit the name calling. Don't paint it like LLs are a set of evil people doing their best to strangle tenants finances.

When people define salary as the money your employer pay you to forget your dreams, they forget that you need that salary to pursue your dreams.

Does anyone have an idea on this?

If I take out insurance on provisional licence, will the price change (go up) if I get my full license few months later and update my record.

Currently I'm getting about £800 if I fill the form with my provisional licence, but if I change the license to full (other details remain the same) the price goes up to about £1,500. I'm yet to take my driving test.

mizGene:
Annual renewal. I didn't just automatically renew...gave them a call to update some info for the new year and then negotiated the price of over 800 they quoted me to just over 600. I still asked for more (as Olivia Twist 😀) but they were now asking if I had a better deal so they could match, I didn't (lowest quote I got was almost double £1400) so I took what was on the table.
I think having a history with them helped.

Which insurance company is this. I'm currently getting over £1,300 even after adding voluntary excess.

koonbey:
Absolutely not worth it.

People seem to be obsessing too much on this credit building thing without realising that those scores are merely approximations that don't really matter when you're applying for stuff. No lender approves you based on your score at Credit Karma or wherever - they have their own algorithms that factor all the different elements of your credit history, and they don't share that with anyone, not even the credit rating websites.

This has some elements of truth. For new comers complaining about low credit score, the fact is your credit score is not low, you simply do not have credit history and you cannot fake it. When landlords/companies see this 'low' credit score from reference agencies, they also see in the report that you haven't defaulted in any credit because you simply haven't taken any. Except we are talking about something like mortgage which isn't the case in most instances here.

You can be intentional about it but in most cases, credit score builds itself. Just look for the option to pay by credit (I don't mean credit card) whenever you want to buy something or take a contract before going the debit/advance payment option.

How much voluntary excess did you add to reduce your car insurance. I'm thinking of £500. About £1,400 per annum is just too high even with black box.

dustydee:
That notice period is too long but I understand why they did that. If you find another job, you can make them dismiss you. That way you don't have to wait for 6 months.

Sense will not kee you

I dated one girl that wanted me to break up, I refused, in my mind na she must breakup. She do tire, I didn't breakup. Shen then confessed to me that she cheated, I say she should not allow it happen again, she said she cannot assure me that it won't happen again that it's in her nature to cheat, I say OK I will continue to forgive her, na there she tire 😀😀

I see a lot of criticisms against the student that wants to bring in wife and children. We need to understand that not all students are hungry, there are students that are richer than workers even with 20hr/week work or no work at all.

Make we calm down dey conclude say person made bad decisions especially when we don't know the person or all their sources of income.

HollyMadison:
I know two people that got £10k

I got 2k, I referred 2 people, both of them got 10k each.

AgentXxx:
Good day Elders; My questions is about the Work pension scheme, i have been thinking about opting out due to the ROI of the pension but when I think about that it’s tax free plus my employer contributes, I want to stay. As at now am very confuse. Elders should help me and others who might be in my shoe light torch so we the children can see clearly. Agba yi a dale oo

The goal of pension is not the ROI, the goal is to secure your future financial freedom.

Do not opt out except you want to depend on your children to feed you at old age or you have a company that will do that.

The tax rebate on it and employer's contribution is to encourage you to do the pension and I think it is worth it because if you opt out, your employer will not give you their own contribution, you will forfeit it.

Come to think of it, if you opt out, what will you do with the extra £100 on your salary monthly that you already cannot do now?

Phayie:
Which bank?

Lloyds Bank

Phayie:
Which site is this please?

Bank app. Click on loan section, there are different kinds of loans.

Viruses:
I'm getting a car finance and the car dealer is quoting 11.9% interest rate. My bank is even worse with a 19.9%. Anyone know's where I can get a cheaper deal for car finance?

Update:
I was going to the wrong loan section (the one for personal loan). I got a good deal for the car loan, 7.5% and address history wasn't a problem.

gmacnoms:
Any idea how one can get Polive character certificate? The website isn’t proceeding beyond the home page

This question needs answer.

Lexusgs430:
You are normally covered by the consumer protection rights (with certain limitations)........

One of which is, if vehicle is faulty within 30 days of purchase, you have a right to return (under consumer protection rights)........

Just read up your consumer protection rights .......


https://www.themotorombudsman.org/knowledge-base/what-are-a-consumers-legal-rights-when-buying-a-car


Having said all this, you can also buy an extended warranty (read all clauses, so you know level of coverage)..…....

Thank you.

It's a blessing having you on this thread trust me.

What's the average warranty period for used vehicles and what does it usually cover?

Anyone knows?

Iolo:
You may be able to put your Nigerian / out of country address. It’s also easier if you called the finance company on phone and got them to handle it for you. Once your score is good you should be fine.

Will try this tomorrow.

dustydee:
Try putting your addresses in the last 3 years and see. It may not be only UK addresses that are acceptable.

Oversees address didn't work.

Hey guys, how were you able to secure car finance with less than 3 years address in the UK. All the lenders I've seen are asking for 3 years UK address history.

Blurpy:
Which app can one use to save money in the uk

Some bank apps have option to create a pot or something like that to keep aside money you don't want to touch.

Moneybox also have different account packages (like withdraw once in a month, one month notice before withdrawal kind of things etc?) with better interest rates than banks.

Lexusgs430:
I hope you fully understand that the £500 deposit, is non refundable.........

No come open another thread o.........😜😂

Hahaha...wahala.

I've made up my mind to buy it. I wanted to pay the full deposit if not that he came up with holding deposit.

It's a 2019 car (registered late 2019) so still has about 18 months manufacturer's warranty, this is what is giving me peace of mind.

Ralphlauren:
Hope for the best and prepare for the worst.

What happens if the govt takes custody of the kids and you just leave the children with them till they grow up maybe to adulthood?

Also does govt just take the children and that's all or they jail the parents?

Lexusgs430:
Nope, must be over £100.00 .......

£100.01 qualifies to make a S75 claim......

£100 does not .........

I already understand that...but it seems the S75 is not applicable for something like car hire purchase. I might have to resort to PayPal.

Modified:
Oga say I must do bank transfer

Estroller:
Pay minimum of £100 on your CC, you can choose to pay the balance as you wish. Google section 75 for better insight.

Insightful read.

There's a caveat.. section 75 does not cover you if you "Used hire purchase to pay for something, such as a car – this has its own protection scheme."

Estroller:
Use your card for better protection, credit card preferably if you have one.

The amount is above my credit card limit but I can use my debit card.

So I should request for a link to pay be card right?

So I want to pay a deposit for a car from an approved dealer. Is bank transfer OK or I should ask for PayPal?

Lexusgs430:
You can trade anyway you wish ....... But expect the trade value to be very low + the way the trade value would be calculated ....... E go be like say you dash them the car ..........

Na so o
If they want to buy from you, they price it low. To sell to you they'll price it high.