NewStats: 3,263,598 , 8,180,698 topics. Date: Friday, 06 June 2025 at 06:05 PM 232p49

I just want to take a moment to remind us all that RENT MONEY IS DEAD MONEY.

Good evening my Neighbours.

DadR:
Hi, I think you can go through real estate agents to sell your house and engage your lender to port your mortgage to a new property if you intend to buy immediately in Glasgow.

Just to ask, were you based in Glasgow before because you mentioned you’re moving back. Reason for asking if because we might be moving to Glasgow this year, hence trying to figure out good areas to rent or buy a house.

Cheers

We were living in Edinburgh and moved to Newcastle two years ago.
We want to move back to Scotland and Wifey said she wants Glasgow. Me been want Dunfermline or Kirckady (FIFE).

Congratulations to all the newest Landlords in the House. This 2025 this Family will have more Landlords. RENT MONEY IS STILL DEAD MONEY.

Who in this house lives in Scotland (Glasgow), I want to connect as we plan to move back to Scotland (Glasgow).

But my biggest challenge is selling my newly bought house, which is less than a year on a 5-year fixed Barclays Mortgage. Please elders if you have an idea of how I can pull this, Please advise.

Lexusgs430:


One education I did not receive, was gradual overpayments, pushes down the term and interest payable (it was not massively talked about)......

I hope future landlords, subject to extra cash + mortgage , would cultivate the habit of overpayments .......😲😞

I added £400 to my Monthly mortgage payment. When I put all the figures in my amortization chart, this additional payment reduced my tenor from 25 to 12.5 years Reducing my total interest from £92,216.86 to £41,298.35. I am wondering if this is the right decision.

I think that putting £400 monthly for 12 years in SNP500 will yield more money than this but I do not know much about Stock investment. E be like we go soon protest to open another trade for investing.

Santa2:


Thanks a lot Ticha.. You are an inspiration actually, I copied that your post on how you bought your first flat in bristol, upto partnering with other couples to do a mini development. That post showed a path to building real estate portfolio from the ground up and was indeed an inspiration.

I always knew we were going to go New build route and probably port to old build later depending on our experience. I started looking for properties even when I knew we weren't ready financially as one is able to look at the property objectively without the need to close on it. Opened LISA in 2021/2022 and kept maxing our yearly contribution. Most of our deposit was from both our LISA s. (In this country, the importance on both spouses working together can never be understated).

Researched different developers and their pro/cons, From April last year start going to see different properties/developments. The first we saw was actually in February 23. it was a flat close to where we currently stay but we soon realised it was not going to meet our needs. Through the different developers show homes we saw (Taylor wimpey, Bellway, Red Row, Persimmons, DW) we found out Red Row as more aligned with wat we wanted/price point. Wifey wanted a kitchen that goes into the garden (at the back), also another of her requirements was the bathrooms must have windows. That was even harder cos most of the bathroom with windows were out of our price point. My only requirement was that it had an office as we both work from home. Luckily come 2024, the prices for some of the ones we were looking at dropped. We eventually went for a 4 bed terrace .

We did a lot of viewing ooh, weekends were spent crisscrossing show homes of different developers. Spent a lot of funds on uber as most of the time we were viewing properties we weren't mobile. It was worth it in the end cos with each property we visited, we learnt more on what we needed and what was obtainable.

We used the developer mortgage advisors and were happy we did as they made the process very seamless. We decided to get our own solicitors even though they were going to be more expensive than the solicitors suggested by the developer. the Mortgage advisors was free, the solicitors fee came up to about £3400(£1500 was from developers incentive).

We got incentives from Red Row, They did all the floorings (Amtico for multiroom and Livingroom), Upgraded the kitchen appliances and countertop, wifey drove a hard bargain with them, she wanted £3000 towards solicitors funds but they pegged it at £1,500.

Congratulations baba.

Jamesclooney:
1. Has anyone bought a new build “show home” before? How much extra was it? Just feel a lot more stress-free than furnishing to the same standard.

2. Any concerns in buying a house in a 99% white community? Most new builds are in less urban areas with lots of non-immigrants as majority, kinda looking for a mix to get a good community vibe. Any tips on this?

Thanks ahead

To give my opinion on the number two question.
I am the only black in my estate. The community have some Black families who have been there with no issues.

The colour of humans around you should not bother you at all. If the estate meets your requirements except the number of black people there, I will say be the first Black.

ukay2:


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 ... Oga Lexusg430 should start preaching Stocks Investment too

Na the next line of action be this.

Estroller:


Baba no dey ever tire to preach this gospel 😁 big ups to you💪🙌 Your converts don dey plenty, many more go still .

If Oga Boss @Lexusgs430 opens church I go be one of his first Protocol officers.

Wetin' him don do for me in this UK nor be small. I dey watch DSTV and plenty other things them, na him
Rent Money is dead money na him preach am make e from enter my madula.

Oga boss your face show, your shoe shine.

Estroller:


Congratulations on your new home! You write so well.

I still dey learn work.

Thank you so much

Santa2:


COngratulations! Alas all the wahala comes to fruition. Hope to be in your shoes soon. Does the bolded mean you got 5% deposit contribution from your developer?

Yes

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 , 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 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 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%.

Santa2:


@Pearlyfaze, how long did it take between when the mortgage advisor applied for your mortgage and when you got the offer? Using Barclays too so I just want to get an idea of the timeframe. Make the thing come quick so that I fit sleep well abeg.lol

@Solumtoya I believe you used Barclays too, could you shed some light on this timeline?

Daalu

Sorry for the late reply. mine took a week and when I requested a new rate it took 3 days.

ukcatlover:
Qatar Airline is good, 5 star, expensive and comfortable but baggage allowance is very small and their staff on ground at airport will stress you to ensure your visa is bald or no single mistake and they might even make you miss flight

While Ethiopia Airline they are also good, cheaper friendly staff more baggage allowance and they just check normal visa and security check and you fly.

My advice use Ethiopia airline. Have used both so i know what am saying

Hello Sir/Ma,
Do Nigeria port Holder need a transit visa. travelling from London to Nigeria.

Santa2:
For those that purchased recently or have experience buying new builds from developers, Do they usually discount on the price, (asides the cash back they would give towards completion i.e flooring, kitchen/bathroom upgrade etc). Cos me I dey always ask for discount ooh but none of them have bulged so far. Would be nice to know if anyone was able to secure a discount in the asking price of their New build property.

Some give a 5% deposit and all of these other benefits you wrote here.

Our developer gave us a 5% deposit for New Build, We exchanged the Contract on the 4th of January for LTV 80%. We provided 15% and the builder 5%.

The same kind of house is now 15k above what was sold to us. I don't know if it's a good sign.

So it depends on where and Who.

Perssimon Gave my friend 5% also.
We are in the North East of England.

Nemie:


Congratulations to you on your new home. Please I'd like to know if the brokers consider the number of years left on the visa. I have been advised to wait until my visa is renewed before obtaining an AIP by some friends, as I would have 1 year left upon attaining the 2 year mark in the UK, so thought to find out if this is really a thing.

We have 11 months left on our visa and the contract was exchanged yesterday. We clocked two years in the UK in December 2023. For Barclays, as long as you are on a skilled worker visa and have been two years in the UK, Just bring 10% and collect House.

Stevepop:
To the glory of God, we completed the purchase of our house (new build) last week. Mentally exhausting but totally worth it. Mortgage was with Halifax (90% LTV). Relatively smooth process with attentive mortgage brokers and pro-active solicitors. We had our snagging on Friday and all issues were cosmetic, which made me so happy 'cos of the horror stuffs I've read about new builds.

Monthly mortgage is about £400 above our previous rent, we fixed for 2 years so hopefully, there will be some calm in the interest rate by the time we re-mortgage.

Grateful to everyone for the invaluable comments and advice.

Congratulations on your new house.
The queue is still moving guys. E go reach everybody wey want this kinda Good news.

Well done newest Landlord.

Amazoner01:
Just curious. How do Barclays this 2 years requirement? Would it be via credit history or travel history.

With your BRP and Address History.

Solumtoya:
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.

Congratulations oga Landlord. God is in the neighbourhood and the queue is definitely moving.
Enjoy your home Sir/ma.

Zahra29:


Lol hustla, be calming down Once you get a sponsored tech role or other role (outside of care) above 38,700 (or 27k if it's a grad role) then you are on the standard work visa, dependants are allowed etc.
Healthcare/ roles (outside of the NHS) are not allowed any dependants regardless of salary

In all of these, What is the fate of Nurses who are not in the NHS. Would they be affected by this regardless of Salary?

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.

Ticha:


It depends. I've never paid a solicitor upfront however our solicitor was recommended by family and everyone in our family has always used them so there's an established relationship.

I know quite a few in the investor groups will charge in full upfront especially the online conveyancers. Some will charge AML and search costs first, then invoice as they go with the final monies paid on completion day.

Do they have reviews? Were you referred to them? Where are you based?

Yes there were referred by the Developer.
Yes they have reviews 15 out 20 reviewers recommended them and 5 said they were poor.


I am based in Newcastle Upon Tyne, England.

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.

[quote author=Estroller post=127248228][/quote]

Thank you very much, We got another for circa 104. And Underwriters came back today and increased it to circa 129.

Is it important to include the kids as extra in this Mortgage Insurance?

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:
Professional Charges

£375.00

VAT

£75.00

Searches (approx.)

£250.00

Stamp Duty or (FTB Relief)

£0.00

Electronic Client Identification Fee, including VAT (£15 per person)

30.00

Telegraphic Transfer Fee Including VAT

48.00

Land Registration Fee

£230.00

Lender istration Fee Including VAT

180.00

Lender Fee (if applicable)

42.00

HM Land Registry Searches

18.00

Anti-Fraud Check Fee

36.00

BACs fee

24.00

Lifetime ISA

£120.00

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.

Good morning ndi Ichie.
Please I like to know if I will be asked to bring a document to proof my address in Nigeria.

We have meet our two years mark in the Youkay and have started our Mortgage journey thanks to all the guidelines here.

I have been asked to give 3years address, two years in the Youkay (Given) and at least one year in Nigeria.

As we nor get NEPA bill with our name on it.
They only alternative would be Bank Statement.

So I would like to know, so I can give the address in my bank .

Solumtoya:


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.

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.

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.

ukay2:
FINALLY....

Completed today with Halifax at 5.3% 2 years fixed with a 15% deposit...Kent, SE England...

....keys in my hand....

To God be the glory....

Thank you everyone for the journey...1st August 2023 to 27th October 2023....

@Lexusgs430, thank you for reminding me that..... RENT MONEY is DEAD Money.....

We all shall get into the property ladder sooner than we think....just keep working daily...

Congratulations Sir. The line is moving.

EPEAKS:
My husband will be Schooling in University of Edinburgh. Can we get a house in Dunfermline for the family. Will this work?

100%. It will work.

Lexusgs430:


Best to buy property at 20 years old........ If you buy at 40...... Wahala don carry twins...... 😜🤣

Baba so we wen come late to the party carry twins come . Abeg pity us small

Elders Good evening. Abeg who FIFE, I wantu ask for some information about the area. Planning on returning to Scotland. A place with close proximity to Edinburgh as I work 2 days a week in Edinburgh.

Good Evening Dear Ancestors.

Abeg this Aqua credit card, shebi if i no go pay interest in the following scenarios:
1. If I nor buy anything with the card for a month.
2. if i buy and pay my total debt via direct debit after the bill is generated.

In simple , Does it work like Amex in of repayment.

Amex nor gree accept me based on say i been get missing payment on my Gas bill when i been dey drag bill with British gas.