Mindlog:


Buy a house in the UK in one year, working as what?

Narcotics agent

ffo:


It is very possible,

I got my house in US, within a year of moving to US

Full payment or mortgage?

It's mostly married Nigerian ladies abroad that celebrate owning a mortgage house, Nigerian men, the sensible and wise ones don't celebrate it.


If you are a Nigerian man abroad, before you think of getting a mortgage house abroad, please make sure you have acquired two or three solid commercial buildings in a bubbling city in Nigeria. Don't be in a hurry to get a mortgage house as a Nigerian man.


Don't be deceived, houses and lands appreciate a lot in Nigeria too.


I know some properties and lands I bought some few years back how much they are today if I am to sell them.


But before you buy any land or property in Nigeria, especially in Lagos, please get a competent property lawyer to go to Alausa secretariat to check the status for you, dont be in a hurry to buy, check the status first.


If you are Igbo, focus more on buying lands and properties in Southeastern cities like; Owerri, Onitsha, Enugu, Aba (though lands don't appreciate fast here dunno why), and maybe Asaba.


Avoid Lagos and Portharcourt if you don't live in Nigeria. Buying land in Abuja as an Igbo person living abroad is even better than buying in Lagos and Portharcourt. This advice is mainly for Igbos living abroad because currently, with the Lagos state government policies of recent, buying land or properties in Lagos if you are not a Yoruba person or you don't live in Lagos is risky, avoid it if you can.


Botswana is another nice place to invest in.

Ivory Coast is also okay.


Avoid Ghana, Ghana used to be good but situation seems to be changing of recent, guys are selling off now.

chyzoo4u:
If you know your onions just like myself (yes, I'm bragging), you can own a house within a year in the UK unlike some discouraging stories some people like to tell.

Yes o. People should never mind the UK is hard crew.

Ok, when you hear people say They bought a house, just know that it's a mortgaged house, usually a 2 or 3 bedroom apartment. It means they've made the initial say £20k /$30K payment, and they continue to pay like £1300 monthly for the next 15+ years, until the full payment of about £250- 300k is complete.

With a good credit score and a steady job, most people are able to "Buy" a house.

[quote author=EreluRoz post=129580462]Nigerian men only behave well abroad 😂😂😂 if Dem born am well make he hit his wife there make them bundle him back to his village.

Congratulations to them [/quote

The thread tell u about behaving well.?
Carry ur evil mind put for the story. Getat!!!!
Congratulations to the couple jare

sharpwriter:

Shut up! Not every man beats a woman, not to talk of their own wives.

Tell the idiot.

cococandy:

That’s great. That’s awesome. You do not have to pay off a mortgage. Contrary to what you think, it’s not a prison sentence. You can transfer ownership as soon as it’s not convenient for you anymore and walk away with your gains. That’s perfectly acceptable. People do it deliberately all the time and it’s a means of creating wealth. There’s no award to be given for holding onto a mortgage when it’s not serving you anymore.




If it’s not their house I wonder how they can have the authority to sell it whenever they want to.
If it’s not their house, why do they get to keep the profit from the sales?

You just want to argue and dig your feet in for semantics.
Since you’re against home ownership unless they are multi millionaires, why didn’t you answer my question about who’s better off losing their job. The renter or the owner?

I mean you’re the one who brought up the topic of how losing their job can make them lose the mortgage as if they don’t have better options than renters.

Just admit you came here to do that useless thing y’all like to do which is to find a way to mock or minimize anything you read online by trying to prove to know more.

DEFAULT and FORECLOSURE. Let those two words ring in your head, okay? Mr Lecturer.

AfahaAbia:
Paying mortgage for another 30 years sealed!!! Nothing special about this. The worst place to own a home is in Western countries.

Do you pay mortgage on something you paid fully for?

chyzoo4u:
If you know your onions just like myself (yes, I'm bragging), you can own a house within a year in the UK unlike some discouraging stories some people like to tell.

They have a mortgage with a 10% deposit and monthly repayment. However, they do not own the house outright and cannot make modifications to it without consulting the banks that really own it.

EreluRoz:
Nigerian men only behave well abroad 😂😂😂 if Dem born am well make he hit his wife there make them bundle him back to his village.

Congratulations to them

Keep your dirty mouth shut.
No man will relocate with you abroad.

groovie:


Terrible opinion. Travelling out is good. There are also lots of people that made it & are doing even better while in Nigeria, running a legit business. If you're young here I beg you do not internalize such advice.

The Internet & IoT, has unlocked & is still unlocking a whole lot of value chain systems you can plug into. Yes it might seem difficult starting off, especially if you don't have buoyant finances but once you build yourself & unlock value... That is it. Value is value anywhere in the world. My case in point would be legit skit makers & how much they have unlocked & they're still unlocking.

That's my 2cents

Do you realize that most skit makers fake their identity to be able to cash out their earnings? You have to present yourself as a foreigner because Facebook is not monetized in Nigeria, tiktok too and the rest of them. You can't even receive money through PayPal. Most times you loose half of your earnings trying to get the money you earned online. People employ dubious means just to get verified by there sm apps thereby proving my point above that you can't make it in Nigeria without being dubious. So you know how many businesses have shut down because of power? Most hotel owners in owerri have disconnected from national grid because of extortion from NEPA. Do you know how much diesel cost per liter? Truth is, if you put in 20% of efforts you expend in Nigeria abroad you'll make it a thousand times more...

Obakoolex:
Big things happen to people here in Nigeria too even just in a couple of months, am a witness..... just that not everybody likes to loud things and put their lives in public.

Building a new federal government road when exiting roads are in dire condition is not big thing

WhiteWood:


boy --Just so you're aware, I don't reside in the UK, and I believe I've never spent more than four days there on each visit -- What are you doing in the UK? assisting with incontinence care ? I doubt you even have a room to your name -- you waste of air

Then keep quiet and stop giving opinion about a place U never lived.
Harbinger of false information.

Digmygold:


"Decide to get rid of his Mortgage and cash out his equity" meaning he ended up NOT paying up his Mortgage.

So now you are back to where we started from which is what I have been harping on. You DO NOT OWN a house until it is FULLY paid for. Full stop

Mr man , you do. A mortgage is a secured loan. Secured against a house you OWN. You cannot secure a loan against something you do NOT OWN.

As with all loans, in the case of default, the lender has a right to recover their funds using the security provided. In this case your house.
But...they cannot recover in excess of the outstanding balance of the loan..they get their money back..if anything is left over, you get the rest.

Same as equity investors in a business. They are the last to get paid in the event of a company going into administration. Other creditors will paid first from the business, and equity holders ( owners) are the last to be paid...if there is anything left.

If banks don't own the businesses that borrow from them, then they don't own the houses that are mortgaged either.

franchasofficia:
It's mostly married Nigerian ladies abroad that celebrate owning a mortgage house, Nigerian men, the sensible and wise ones don't celebrate it.


If you are a Nigerian man abroad, before you think of getting a mortgage house abroad, please make sure you have acquired two or three solid commercial buildings in a bubbling city in Nigeria. Don't be in a hurry to get a mortgage house as a Nigerian man.


Don't be deceived, houses and lands appreciate a lot in Nigeria too.


I know some properties and lands I bought some few years back how much they are today if I am to sell them.


But before you buy any land or property in Nigeria, especially in Lagos, please get a competent property lawyer to go to Alausa secretariat to check the status for you, dont be in a hurry to buy, check the status first.


If you are Igbo, focus more on buying lands and properties in Southeastern cities like; Owerri, Onitsha, Enugu, Aba (though lands don't appreciate fast here dunno why), and maybe Asaba.


Avoid Lagos and Portharcourt if you don't live in Nigeria. Buying land in Abuja as an Igbo person living abroad is even better than buying in Lagos and Portharcourt. This advice is mainly for Igbos living abroad because currently, with the Lagos state government policies of recent, buying land or properties in Lagos if you are not a Yoruba person or you don't live in Lagos is risky, avoid it if you can.


Botswana is another nice place to invest in.

Ivory Coast is also okay.


Avoid Ghana, Ghana used to be good but situation seems to be changing of recent, guys are selling off now.

If U are living abroad and has no plan to return soon, pls ignore this terrible advice. The worst thing U can do for yourself is building houses in Nigeria when U can buy house abroad.

Proceed from rent is meaningless, how much will it fetch u? U will use over 40 million to build a house only to rent it out for 500k per year.
Renting a mortgage house covers both the mortgage plus extra profits that goes into your pocket.
Property abroad is real wealth, the earlier U enter the better for U and your kids in the future. Its a powerful wealth leverage.
Houses appreciate better abroad than naija and U get better return on investment both short and long term.

Purchase of cast acre of lands is the only thing I will advise abroad guys to invest in Nigeria.
Take this from someone writing from experience.

WhiteWood:


boy --Just so you're aware, I don't reside in the UK, and I believe I've never spent more than four days there on each visit -- What are you doing in the UK? assisting with incontinence care ? I doubt you even have a room to your name -- you waste of air

Then you must change your circles when you visit the uk.

The man should not be celebrating, the woman should.

If you know you know.

cococandy:

That’s great. That’s awesome. You do not have to pay off a mortgage. Contrary to what you think, it’s not a prison sentence. You can transfer ownership as soon as it’s not convenient for you anymore and walk away with your gains. That’s perfectly acceptable. People do it deliberately all the time and it’s a means of creating wealth. There’s no award to be given for holding onto a mortgage when it’s not serving you anymore.




If it’s not their house I wonder how they can have the authority to sell it whenever they want to.
If it’s not their house, why do they get to keep the profit from the sales?

You just want to argue and dig your feet in for semantics.
Since you’re against home ownership unless they are multi millionaires, why didn’t you answer my question about who’s better off losing their job. The renter or the owner?

I mean you’re the one who brought up the topic of how losing their job can make them lose the mortgage as if they don’t have better options than renters.

Just admit you came here to do that useless thing y’all like to do which is to find a way to mock or minimize anything you read online by trying to prove to know more.

EoD!

Digmygold:


Go and sit down. If you aren't a Multi-millionaire buying a house abroad just makes you miserable and you know this.

Buying a house is an investment in itself abroad. The equity is yours and not the bank.
If U don't buy a house the alternative is to rent and be paying for someone's mortgage.
So tell me which is more foolish? If U lose your job, will U continue to rent for free?

quadraheem:
Why do we like to deceive Nigerians about all these house ownership?
These people will not come out and tell the truth that it is not an outright purchase but a mortgage financed house and it will take them decades to completely pay the money.
Ownership of houses in Nigeria is mostly outright ownership.

How much is it to own a decent property in a good location in Nigeria?

delishpot:


I even thought he had bought a house in the UK and is living the life Fe up there. But My guy say "once I step into the UK"

😂😂

Eriokanmi:
Abi how many nigerians dey buy cars on credit you bin wan talk

Come and see the rate at which Nigerians throng usa embassy, Canadian embassy, UK embassy etc for visa. You go fear nah. There's money in Nigeria for Nigerians to tour with. I remember a day i went to pick my passport at the DHL office , isolo which was dispatched by the usa embassy after a drop box application. Na that time I know say naija dey travel...no parking space that day. Most of the houses located in the eyebrow areas of our main cities were built outrightly. Our people no like gbese oo. They see it as a taboo lol. You sef know this

Who even goes to bank for loans to buy car? Which bank dey grant loan even with all the requirements being met? Nigerians prefer to buy outrightly. I was encouraging my friend who lives abroad recently to go and get my type of floor tiles. Guess what he said...na big man you be nah, na big man dey do that kain tiles oo. Tell me how many Nigerians live on mortgage? Mortgage that's not even there?

FYI, my passport ( speaking for myself) doesn't restrict me oo and I'm not tired of applying for visa which i always get with ease.

Let me ask U a question? With all your bragging, how many new cars are sold in Nigeria every year?

SIRTee15:


Buying a house is an investment in itself abroad. The equity is yours and not the bank.
If U don't buy a house the alternative is to rent and be paying for someone's mortgage.
So tell me which is more foolish? If U lose your job, will U continue to rent for free?

DEFAULT and FORECLOSURE. Can you guys just let these two words ring in your brains for a minute? There are down sides to Mortgages too. Stop sounding silly.

shaybebaby:

Mr man , you do. A mortgage is a secured loan. Secured against a house you OWN. You cannot secure a loan against something you do NOT OWN.

As with all loans, in the case of default, the lender has a right to recover their funds using the security provided. In this case your house.
But...they cannot recover in excess of the outstanding balance of the loan..they get their money back..if anything is left over, you get the rest.

Same as equity investors in a business. They are the last to get paid in the event of a company going into administration. Other creditors will paid first from the business, and equity holders ( owners) are the last to be paid...if there is anything left.

If banks don't own the businesses that borrow from them, then they don't own the houses that are mortgaged either.

You don't REALLY own a home when that home is your collateral. There are downsides to Mortgages too. Stop sugar coating it. If your property declines in value you CAN lose equity. If you buy a car on higher purchase, do you own the car?

A United Kingdom-based Nigerian man, Olubunmi Abodunde, has beaten his wife, Taiwo, to death with their son’s skateboard, Daily Mail reports.

The couple, who had three children, arrived in the UK from Nigeria in 2022 and always clashed over alleged affairs and arguments about bills.

WhiteWood:


You just don't get it, do you? -- nobody is trying to discourage anyone from purchasing a house with a mortgage -- Speaking for myself, I'm simply trying to make him understand that the term "own" he used is a bit too definitive for a house acquired through a mortgage.

They own the house. That's the appropriate word.
If they are filling a form, they will be asked do U own or renting?
What do U want them to tick? Mr too definitive.

chyzoo4u:


I don't know about that, I just shared someone's story then emphasized that I can make enough money to buy a house in a year once I step into UK.

Make enough money to buy a house in two years ko, you wan thief am.

Oga that’s mortgage. Payment would be over more than 10 years. No pay complete fess

MemoriesAndMe:


"Buying a house in cash" is different from "Buying a house on mortgage" in a foreign country.

Mortgage is the beginning of slavery for many people in western nations because they usually end up paying way more than the worth of the house with the high interest rates involved for multiple years.

That's why a lot of diasporans envy those in Nigeria that managed to buy or build their houses with their own physical cash or investments not those that simply think "buying a house in cash" isn't different from "buying a house on mortgage".

Huge difference bro.

If they bought the house in cash, congrats to them, if it's on mortgage, then they just traded years of their lives to pay up the price of the house and the house still isn't owned by them, it's owned by the bank that financed them, not them.

Even if it's just a 30 year mortgage, pay mortgage for 29 years and 6 months and you can't afford the remaining 6 months, the bank has the right to evict you and resell the house to someone else and start the process all over again.

Many spend their entire lives abroad paying loans they can never pay off,Same with leased cars, jets, helicopters, yachts etc. All of them can be bought on credit in Western worlds and I believe everyone that has any experience in any experience around what I just said can attest to that.

So, buying a house or cars in a western country isn't something people usually brag about when it's on loan because it's like "borrowing" the house, car, helicopter , private jet etc from the real owner - the bank.

I know of someone that "bought" 4 houses on mortgage in the US and after the 2008 real estate crisis in the US, all 4 houses went under foreclosure and the next step was to file for bankruptcy.

It's great news if they bought their house without any loans from banks, that's what I meant.

When people buy houses in Nigeria, they pay cash and it's theirs for life.

Thanks bro for this eyes opening advice.
In a non shell, one should just say back home if he can cater for himself n family.

Little wonder why some people Pity those who sell their properties to japa to start afresh.

cococandy:
if they don’t have money to pay off their bills every month, do you think they can still afford it?

That's why you can see where i actually said as long as you got a good job, definitely you can't even get a mortgage when they check and see you don't have a good job or something really sustainable to always repay the monthly agreed repayment

christopher123:
A MORTGAGE HOME ISN'T YOUR OWN TILL FULL PAYMENT

Spewing ignorance with confidence.

christopher123:
WE PLAN HERE AND BUILD, MORTGAGE IS NOT HOME OWNERSHIP

Face it... You don't really pay taxes here.

You literally live off subsidy, yet poverty is still extremely high.


How many working and earning Nigerians can boast of owning or building houses despite the relaxed taxation?!!

Speaking of Mortgage... Go study the nation's debt profile and servicing.

Even the futures of your unborn kids are already mortgaged.