NewStats: 3,265,497 , 8,186,992 topics. Date: Sunday, 15 June 2025 at 11:28 AM 4m1e3j

solveabode:
Good day to you all.
Please I need an urgent response.
Our completion date is December 3rd but interest rate gas gone down since I got tje mortgate offer.
I asked my broker about the going rate, this was her response:
"it may be too close to the date of completion to change this over".

I'm yet to reply her cos I felt if the rate was high, the lender would find it easy to change it.
Please I need your advice.

It’s really close. However, if your broker is a fast one, then they can put in the application today. It tasks two days tops to get your rates changed. However, this is up to you. Please no take am as financial advise.

Lexusgs430:


The reason I would not use content home insurance, for certain claims..... 🏡😂

But have a bespoke policy, for certain electrical/electronic devices...... 😎

Infact, after this recent TV claim, my policy is now much cheaper (on the new TV)..... 😂📺

This makes too much sense. Any recommendations?

babajeje123:
On this journey and hopefully I'll be back soon to share my testimony.

Yippee...it's testimony time and a very long one it is.
The whole journey started in August and we had December as our move-in date. Our searches led us to Persimmon, paid reservation fee however we had no peace of mind. One, how they would be able to finish the plot in a space of few months, two the reviews we read about Persimmon were not encouraging and the fact that we would stick to their Internet provider discouraged us from proceeding with them. So we requested for what we paid as reservation fee.

Then, we moved to Keepmoat. A very decent property with a lot of freebies for shikini money. Integrated fridge & freezer, washing machine, dishwasher, flooring with carpet in all rooms, turf in the garden, and a wardrobe in the master bedroom. All for 167k pere with 5% deposit. We reserved that day! But the property is in a different location from where we are. We didn't even care, so happy submitting all docs till the result of the local searches came out. The area is prone to flooding. Wetin be this? We sha consulted, talked to people and the advised we should go ahead as the area has never experienced flooding in the last 50 years. But my mind no touch ground at though we kept moving by faith. Went to do door knocking one day and the guy I spoke to talked well of the area. No serious snagging issues since he moved in, quick response time for little issues that came up, he sha spoke well but mind refused to touch ground. Then one day, I felt like checking what the council tax in that area is for same property. £174! I've found a good reason to cancel. Currently paying £110, paying £174 means we will be doing 010 daily. Brain-washed madam and we cancelled though we lost so money. We continued to search and we found Gentoo. They didn't think all our boxes but ticked the important ones. We can sleep well without praying that it should not rain and council tax will make us do 101 at least . We knew we won't cancel cos we found peace throughout the whole process.

Contract exchanged yesterday, completion was today, going for keys tomorrow. Let somebody shout hallelujah

babajeje123:

Yippee...it's testimony time and a very long one it is.
The whole journey started in August and we had December as our move-in date. Our searches led us to Persimmon, paid reservation however we had no peace of mind. One, how they would be able to finish the plot in a space of few months, two the reviews we read about Persimmon were not encouraging and the fact that we would stick to their Internet provider discouraged us from proceeding with them. So we requested for money.

Then, we moved to Keepmoat. A very decent property with a lot of freebies for shikini money. Integrated fridge & freezer, washing machine, dishwasher, flooring with carpeting, turf in the
garden, and a wardrobe in the master bedroom. All for 167k pere with 5% deposit. We reserved that day! But the property is in a different location from where we are. We didn't even care, so happy submitting all docs till the result of the local searches came out. The area is prone to flooding. Wetin be this? We sha consulted, talked to people and the advised we should go ahead as the area has never experienced flooding in the last 50 years. But my mind no touch ground at though we kept moving by faith. Went to do door knocking one day and the guy I spoke to talked well of the area. No serious snagging issues since he moved in, quick response time for little issues that came up, he sha spoke well but mind refused to touch ground. Then one day, I felt like checking what the council tax in that area is for same property. £174! I've found a good reason to cancel. Currently paying £110, paying £174 means we will be doing 010 daily. Brain-washed madam and we cancelled though we lost so money. We continued to search and we found Gentoo. They didn't think all our boxes but ticked the important ones. We can sleep well without praying that it should not rain and council tax will make us do 101 at least . We knew we won't cancel cos we found peace throughout the whole process.

Contract exchanged yesterday, completion was today, going for keys tomorrow. Let somebody shout hallelujah

Big congratulations.
If I may ask please, what lender did you use for your 5% and what's the interest rate?

080bjaked:


Big congratulations.
If I may ask please, what lender did you use for your 5% and what's the interest rate?

Barclays, 4.7 kinikan

Hallelujah!!!

Just noticed you posted this journey in February.

I will also testify here and claim it by faith.

Let this be my bookmark😁😁😁

Congratulations once more 🤗👏👊

May your stay be peaceful and enjoyable

babajeje123:

Yippee...it's testimony time and a very long one it is.
The whole journey started in August and we had December as our move-in date.
Contract exchanged yesterday, completion was today, going for keys tomorrow. Let somebody shout hallelujah

Bukad:
Hallelujah!!!

Just noticed you posted this journey in February.

I will also testify here and claim it by faith.

Let this be my bookmark😁😁😁

Congratulations once more 🤗👏👊

May your stay be peaceful and enjoyable

Thank you

kwakudtraveller:

This makes too much sense. Any recommendations?

Domestic & General......

Lexusgs430:


I currently pay £420 per annum for 2 vehicles + £180 building and content insurance...... 😁
(fully comprehensive), on both vehicles...... 😎
I also have extra insurance for all my white goods, TV etc etc...... The TV in my bedroom, developed a white thin vertical line last week, I phoned D&G, technician visited today, wrote TV off today ..... Getting a free replacement next week..... 😊

For all white goods, TV cover etc etc , I pay about £75 extra pcm..... 😁 (Got my Double fridge & freezer + washing machine replaced already).... 😁

Convince me that the BIB is such a great deal. The ant in me sees that as a waste of money. If I set aside £75 every month in a 5% interest savings , I will have enough funds to replace any fridge/freezer or TV that breaks down. We used to have a breakdown cover/extended warranty for white goods but I cancelled it as I couldn’t justify paying into something that I might never use for the foreseeable future. Instead we keep an emergency fund for such things.

babajeje123:

Barclays, 4.7 kinikan

4.7% for 95 LTR? That's a good one?
Congratulations once again.

Peerielass:


Convince me that the BIB is such a great deal. The ant in me sees that as a waste of money. If I set aside £75 every month in a 5% interest savings , I will have enough funds to replace any fridge/freezer or TV that breaks down. We used to have a breakdown cover/extended warranty for white goods but I cancelled it as I couldn’t justify paying into something that I might never use for the foreseeable future. Instead we keep an emergency fund for such things.

The ant in you, does not sync with the lack of discipline in me, to set aside the funds on a regular.... To meet the need, when it arises...... Nothing beats the peace of mind in me, knowing that if my washing machine or tumble drier is BER tomorrow, a FREE replacement is around the corner (well, not free as in free)...... 😊😁😂

I have electrical goods that are not insured, like soundbars (because I deem them irrelevant to insure)...... 🙄

babajeje123:

Contract exchanged yesterday, completion was today, going for keys tomorrow. Let somebody shout hallelujah

Congratulations big man. ing your team soon.

Peerielass:


Convince me that the BIB is such a great deal. The ant in me sees that as a waste of money. If I set aside £75 every month in a 5% interest savings , I will have enough funds to replace any fridge/freezer or TV that breaks down. We used to have a breakdown cover/extended warranty for white goods but I cancelled it as I couldn’t justify paying into something that I might never use for the foreseeable future. Instead we keep an emergency fund for such things.

Your post made me realize I completely overlooked the pcm, I assumed it was an annual spend. £75 is quite a significant amount to spend monthly on a “maybe” situation. And you’re absolutely right, putting that money into a HYSA would be far more impactful. It could eventually go toward something we actually need, like a new refrigerator or TV if the situation calls for it. These little expenses really do add up, and before you know it, you’re house poor because so much of somebody’s income is tied up in the house, from the mortgage to bills and minor fixes.

kwakudtraveller:

Congratulations big man. ing your team soon.

Thanks bro

babajeje123:

Thanks bro

Babajeje, jeje laye gba...... Congratulations..... 💐🎉

RENT MONEY IS INDEED DEAD MONEY...... 🤑🙄🤣

Lexusgs430:


Babajeje, jeje laye gba...... Congratulations..... 💐🎉

RENT MONEY IS INDEED DEAD MONEY...... 🤑🙄🤣

Indeed! Thanks for the motivation. You and Ticha are phenomenal!

Bukad:
Hallelujah!!!

Just noticed you posted this journey in February.

I will also testify here and claim it by faith.

Let this be my bookmark😁😁😁

Congratulations once more 🤗👏👊

May your stay be peaceful and enjoyable

Thanks bro

Lexusgs430:


The reason I would not use content home insurance, for certain claims..... 🏡😂

But have a bespoke policy, for certain electrical/electronic devices...... 😎

Infact, after this recent TV claim, my policy is now much cheaper (on the new TV)..... 😂📺

Same thing I did with DG.. But i didnt include TV and other gadgets, didnt think to include hoover till your post.

Goodenoch:


Our rate was changed the same day our broker applied. It was on a Monday or Tuesday and completion was due for Friday (didn't go though that day but for different reasons).

Thank you

Hi all, please I need some advices.

We’re a planning on getting a mortgage, deposit is 80% ready but Moneybox LISA will clock a year by April 2025.

1. Please when is the best time to start talking to brokers? Is it after property search or before property search?

2. Can we start searching for properties now? Since deposit would be ready by April Next year.
Thanks

babajeje123:

Yippee...it's testimony time and a very long one it is.
The whole journey started in August and we had December as our move-in date. Our searches led us to Persimmon, paid reservation fee however we had no peace of mind. One, how they would be able to finish the plot in a space of few months, two the reviews we read about Persimmon were not encouraging and the fact that we would stick to their Internet provider discouraged us from proceeding with them. So we requested for what we paid as reservation fee.

Then, we moved to Keepmoat. A very decent property with a lot of freebies for shikini money. Integrated fridge & freezer, washing machine, dishwasher, flooring with carpet in all rooms, turf in the garden, and a wardrobe in the master bedroom. All for 167k pere with 5% deposit. We reserved that day! But the property is in a different location from where we are. We didn't even care, so happy submitting all docs till the result of the local searches came out. The area is prone to flooding. Wetin be this? We sha consulted, talked to people and the advised we should go ahead as the area has never experienced flooding in the last 50 years. But my mind no touch ground at though we kept moving by faith. Went to do door knocking one day and the guy I spoke to talked well of the area. No serious snagging issues since he moved in, quick response time for little issues that came up, he sha spoke well but mind refused to touch ground. Then one day, I felt like checking what the council tax in that area is for same property. £174! I've found a good reason to cancel. Currently paying £110, paying £174 means we will be doing 010 daily. Brain-washed madam and we cancelled though we lost so money. We continued to search and we found Gentoo. They didn't think all our boxes but ticked the important ones. We can sleep well without praying that it should not rain and council tax will make us do 101 at least . We knew we won't cancel cos we found peace throughout the whole process.

Contract exchanged yesterday, completion was today, going for keys tomorrow. Let somebody shout hallelujah

Congratulations! 🎊

kwakudtraveller:

Your post made me realize I completely overlooked the pcm, I assumed it was an annual spend. £75 is quite a significant amount to spend monthly on a “maybe” situation. And you’re absolutely right, putting that money into a HYSA would be far more impactful. It could eventually go toward something we actually need, like a new refrigerator or TV if the situation calls for it. These little expenses really do add up, and before you know it, you’re house poor because so much of somebody’s income is tied up in the house, from the mortgage to bills and minor fixes.

£75 shook me sha. I pay about £6 each for my washer/dryer and 65-inch TV. Even the £13 makes me wonder if it's not much. But my TV broke and they replaced it so it turned out okay. My other white goods are all still on the Builder's 2-year warranty. Even after the warranty, I might throw in the fridge and boiler to make it like £25. No other appliance is worth insuring for me as such.

For those that locked in 2.8% 5 year mortgage in 2020. How are they going to face reality in 2025? Just thinking over this for knowledge sake. Have you all got your shock absorber

elengine:
For those that locked in 2.8% 5 year mortgage in 2020. How are they going to face reality in 2025? Just thinking over this for knowledge sake. Have you all got your shock absorber

We locked in 1.41% for 5 years in 2022, we are currently setting aside a set sum in a savings with a 4.9% interest rate. Hopefully a sizable amount would have been accumulated in this pot by the time the current deal expires. The plan is to overpay the mortgage with this and keep repayments at the current level or lower, if not possible we go chest am and move.

Congratulations @Babajeje, you no do jeje with this one though. You were pragmatic. Abeg which broker you use, as e be like na the same area me and you dey judging by the names of builders you've mentioned.

080bjaked:


4.7% for 95 LTR? That's a good one?
What lender please?

Hello Family, I am such a huge fan of all the encouragement, advice and assistance that is being shared by the elders and gurus on this thread for those of us new in the country and trying to get onto the property ladder. Although I am a silent reader, I have been following the thread religiously and I have learnt so much here i.e. Oga Lexus's famous saying " Rent money is dead money" or Madam Ticha's informative posts and so many other people's wisdom which has really helped in motivating many of us.

I am currently in the market for a 3 bedroom property in Birmingham and I have a few questions I will be grateful to get assistance and advice on.

1. I have done a viewing for several properties and I have narrowed it down to 2 I like. Do/Can I make an offer before a survey is done?
2. I am aware that there are 2 types of survey - basic and structural which is far more expensive. Who does this survey and if a property seems alright needed just minor repairs and work is there any advantage in doing the structural survey or that is for houses that might require extensive renovations.
3. Is valuation of the property something that is paid for? I have seen several websites that are able to give an idea of what it should cost and I wonder if there is something else I am missing
4. Finally, could the house recommend solicitors that have very good ratings. I have heard a lot of people warn about the need to go with tested and trusted solicitors especially through referrals. Since I was able to know about L & C here with very good reviews I would appreciate help/advice in the solicitor area as well.
5. Finally, is there a any tip that can be given to a newbie who hasn't made an offer before? I have read of getting the costs of similar properties in the street/area and making an offer 10-15% less than the posted price, but if that is rejected do you wait a day or two before upping your offer?

Apologies for the numerous questions, I started the process last week and hope to have it completed before January 2025 end or February if all goes well. Thanks in advance for all your replies.

fetomowo:
Congratulations @Babajeje, you no do jeje with this one though. You were pragmatic. Abeg which broker you use, as e be like na the same area me and you dey judging by the names of builders you've mentioned.

Lol...Barclays however I will suggest you use a Mortgage Advisor.

Estroller:


We locked in 1.41% for 5 years in 2022, we are currently setting aside a set sum in a savings with a 4.9% interest rate. Hopefully a sizable amount would have been accumulated in this pot by the time the current deal expires. The plan is to overpay the mortgage with this and keep repayments at the current level or lower, if not possible we go chest am and move.

Wow. 1.4%. A lot has really changed. This is a great idea and I guess a lot of people can learn from this. Especially the newbie like me.

alongetayo:
Hi all, please I need some advices.

We’re a planning on getting a mortgage, deposit is 80% ready but Moneybox LISA will clock a year by April 2025.

1. Please when is the best time to start talking to brokers? Is it after property search or before property search?

2. Can we start searching for properties now? Since deposit would be ready by April Next year.
Thanks

2. You can start viewing properties in January because by the time you find a good one, get an offer accepted, instruct your solicitor, etc., you would most likely get to April for the deposit payment, when your LISA has clocked one year.

1. You can start speaking to brokers at the same time you start viewing properties.

IcecoldDon:


I am currently in the market for a 3 bedroom property in Birmingham and I have a few questions I will be grateful to get assistance and advice on.

1. I have done a viewing for several properties and I have narrowed it down to 2 I like. Do/Can I make an offer before a survey is done?
2. I am aware that there are 2 types of survey - basic and structural which is far more expensive. Who does this survey and if a property seems alright needed just minor repairs and work is there any advantage in doing the structural survey or that is for houses that might require extensive renovations.
3. Is valuation of the property something that is paid for? I have seen several websites that are able to give an idea of what it should cost and I wonder if there is something else I am missing
4. Finally, could the house recommend solicitors that have very good ratings. I have heard a lot of people warn about the need to go with tested and trusted solicitors especially through referrals. Since I was able to know about L & C here with very good reviews I would appreciate help/advice in the solicitor area as well.
5. Finally, is there a any tip that can be given to a newbie who hasn't made an offer before? I have read of getting the costs of similar properties in the street/area and making an offer 10-15% less than the posted price, but if that is rejected do you wait a day or two before upping your offer?

Apologies for the numerous questions, I started the process last week and hope to have it completed before January 2025 end or February if all goes well. Thanks in advance for all your replies.

1. The level of survey you do would be based on a number of factors like the age of the property. We opted to do a Level 3 survey because it was an old build built in the 1940s. Surveys are done by chartered surveyors; you can find them online on comparison sites for quotes. We found ours on Reallymoving.com, and he was fantastic. Regarding repairs, if it’s just a minor repair, you could either absorb the costs or ask the seller to fix them with proof. If it’s major issues with the property, you could renegotiate the price like we did or move on to another property if the issues are unbearable. Just know that you would lose some money based on the latter, as you would need to repay for searches and a new survey on another property.
 
2. The level of survey depends on factors like the age of the property. Ours was an old build, built in the 1940s and we chose a Level 3 survey. Chartered surveyors conduct these surveys, and you can compare quotes online, Reallymoving.com worked well for us. Minor repair issues can be resolved by absorbing the cost or asking the seller to repair them and put this as part of the solicitor’s process by getting them to ask for proof of repair. For major issues, you can renegotiate the price (as we did) or walk away, though you'd incur costs for new searches and survey on the next property you choose.
 
3. Valuations sometimes come with Level 2 surveys. Most times, the banks offering you the mortgage do this for free. They rarely get anyone on site; they just use an online source for the valuation.
 
4. Look for solicitors closest to you. Check their reviews on Trustpilot. It’s better to have a solicitor in your city so that you can always walk into their office to seat on them. We got a solicitor in another city, and I regret that decision. Or maybe someone here can recommend theirs because they were good.
 
5. Offering 10-15% less can be risky, especially if you love the property and homes in that area sell quickly. But it’s still worth a shot. Start by checking recent sale prices of similar properties to gauge the market value. In many cases, sellers might only be willing to drop around £10k from the asking price. Some estate agents overprice their properties and reduce the price after a couple of weeks if there’s little interest. If your offer is rejected, the estate agent will often tell you the vendor’s acceptable range, and you could negotiate further to perhaps knocking off between 5-10k. But just know that if the property is in high demand, you could lose it to someone who’s offering more.

Finally bro, you shouldn’t expect to close by January. Lower that expectation as it’s a process that usually takes between 3 - 5/6 months.

Solumtoya:


£75 shook me sha. I pay about £6 each for my washer/dryer and 65-inch TV. Even the £13 makes me wonder if it's not much. But my TV broke and they replaced it so it turned out okay. My other white goods are all still on the Builder's 2-year warranty. Even after the warranty, I might throw in the fridge and boiler to make it like £25. No other appliance is worth insuring for me as such.

Especially that fridge and broiler, that’s a good one.

Thanks a lot. A lot of information and valid points that I will put to good use.

kwakudtraveller:


1. The level of survey you do would be based on a number of factors like the age of the property. We opted to do a Level 3 survey because it was an old build built in the 1940s. Surveys are done by chartered surveyors; you can find them online on comparison sites for quotes. We found ours on Reallymoving.com, and he was fantastic. Regarding repairs, if it’s just a minor repair, you could either absorb the costs or ask the seller to fix them with proof. If it’s major issues with the property, you could renegotiate the price like we did or move on to another property if the issues are unbearable. Just know that you would lose some money based on the latter, as you would need to repay for searches and a new survey on another property.
 
2. The level of survey depends on factors like the age of the property. Ours was an old build, built in the 1940s and we chose a Level 3 survey. Chartered surveyors conduct these surveys, and you can compare quotes online, Reallymoving.com worked well for us. Minor repair issues can be resolved by absorbing the cost or asking the seller to repair them and put this as part of the solicitor’s process by getting them to ask for proof of repair. For major issues, you can renegotiate the price (as we did) or walk away, though you'd incur costs for new searches and survey on the next property you choose.
 
3. Valuations sometimes come with Level 2 surveys. Most times, the banks offering you the mortgage do this for free. They rarely get anyone on site; they just use an online source for the valuation.
 
4. Look for solicitors closest to you. Check their reviews on Trustpilot. It’s better to have a solicitor in your city so that you can always walk into their office to seat on them. We got a solicitor in another city, and I regret that decision. Or maybe someone here can recommend theirs because they were good.
 
5. Offering 10-15% less can be risky, especially if you love the property and homes in that area sell quickly. But it’s still worth a shot. Start by checking recent sale prices of similar properties to gauge the market value. In many cases, sellers might only be willing to drop around £10k from the asking price. Some estate agents overprice their properties and reduce the price after a couple of weeks if there’s little interest. If your offer is rejected, the estate agent will often tell you the vendor’s acceptable range, and you could negotiate further to perhaps knocking off between 5-10k. But just know that if the property is in high demand, you could lose it to someone who’s offering more.

Finally bro, you shouldn’t expect to close by January. Lower that expectation as it’s a process that usually takes between 3 - 5/6 months.