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Nairaland Forum / Nairaland / General / Travel / Living In The UK: Property,Mortgage And Related (84889 Views)
Getting Into The UK Property Market. How To? Teach Us How To? Get In Here / Living In The Uk/life As A UK Immigrant / Living In Australia/life As An Australian Immigrant (2) (3) (4)
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Re: Living In The UK: Property,Mortgage And Related by semmyk(m): 12:16pm On May 14, 2023 |
in the YouKay, who's a FTB 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 12:29pm On May 14, 2023 |
mex551: WIth regards to bringing in funds from sale of property from naija, if you have a LISA, one can bring in the funds, move them to make up the remainder of the ISA account £16,000 (assuming one has already maxout of the 4k-you can save upto £20,000 yearly). If you have a spouse that makes £32,000 for both of you, Leave it long enough in the account. hopefully that might be some sort of solution. Would they ask for source of funds for ISA? |
Re: Living In The UK: Property,Mortgage And Related by semmyk(m): 12:36pm On May 14, 2023 |
Interesting time ahead. - Land owned on paper (with risk of ọmọ onilẹ). - Land owned registered in State's deed office - CoA, CofO - Land under development (fenced, or foundation, blocks raising, sil level, lintel level, roofing ...) - Land with completed house rented out (through acquittance, agent, complex mgt, bnb, luxury accommodation...) ... ... ProfJYK: |
Re: Living In The UK: Property,Mortgage And Related by semmyk(m): 1:50pm On May 14, 2023 |
RE: FTB: So in the YouKay, who's a FTB: On the first post, apparently FTB condition spans across the UK. So, I'll be editing semmyk: Pointers on who is or who isn't FTB: Well, interesting ethics, moral, etiquette, 'wise', sharpguy times ahead. Keep calm and invest! Home Owners Alliance (HOA) is emphatic, not mincing words ... Who counts as a first-time buyer? Link: ... To qualify as a first-time buyer in the taxman’s eyes you must never have owned, or had an interest in, a residential property in the UK or overseas. This includes both freehold and leasehold property First Time Buyer Help goes the taxman approach in their FTB definition Link: ... criteria to claim First Time Buyer status for Stamp Duty Land Tax relief ... “In order to count as a first time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world.”. See HMRC one page doc. HM 'money helper' puts it is simple term i.t.o. mortgage ... "A person is generally classified as a first-time-buyer if they’re buying their only or main residence, and have never owned a freehold or have a leasehold interest in a residential property in the UK or abroad." Just before going to 'ask' HM taxman, you might just get a bald response like this 😷 - https://community.hmrc.gov.uk/customerforums/ifp/a71c1ef7-efec-ec11-b5cf-00155d9c6b71
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Re: Living In The UK: Property,Mortgage And Related by semmyk(m): 2:49pm On May 14, 2023 |
Your credit record is 'technically' a proxy of your 'ability to pay'. A sort of forward appraisal and guesstimating your ability to pay 'debts'. Can less than 1yr get a mortgage, yes you can. - very low LTV - 5yrs Skilled Worker visa - fulltime job (in reputable coy) Would it be a walk in the park. Nope. Most require a residency of at least 2yrs! Do your research and research again. Be resolute, doggedly so and keep working at it. elengine:Below and others from the thread might assist. Possibly. Solumtoya: 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 2:45am On May 15, 2023 |
semmyk: Thanks @semmyk for clarifying who FTB is. I never did the research but I just knew I would not do anything to link sale of naija property. Make dem no go pour sand sand for my garri after I don reach this far. |
Re: Living In The UK: Property,Mortgage And Related by Pearlyfaze: 1:33pm On May 15, 2023 |
Healhtyliving: I just got off the phone with a Mortgage Advisor. She said in Summary that Skipton deal is for UK National or ILR holders. If you are less than two years is the same 25% deposit everyone is asking for. We move with viewing regardless. 2 Likes |
Re: Living In The UK: Property,Mortgage And Related by Santa2: 2:21pm On May 15, 2023 |
Pearlyfaze: The skipton deal didnt even work for me either ways as they capped the monthly repayment at you current rent which reduces the amount they are willing to lend to me. As the amount would not be enough for the type of house we want. 1 Like |
Re: Living In The UK: Property,Mortgage And Related by seyejohn94: 12:25pm On May 16, 2023 |
🔑 Hey there! Need a mortgage on a Tier 2 visa with less than 1 year in the UK? No worries, I got you covered! 🏠 Just wanted to give a shoutout to Strike, the mortgage broker that can hook you up with lenders who don't demand a whopping 25% deposit. Yup, you heard it right! You can score a sweet 10% Loan-to-Value (LTV) ratio. The catch? Make sure your combined income hits that £100k mark. 💰 By the way, if you have any questions, Bhavini is your go-to person. She's super helpful and has dealt with tons of Nigerians, so she knows the ropes. 😊 Oh, one thing to keep in mind: I'm not personally involved with this mortgage broker, but I just had to share this awesome find with you. Don't miss out on the chance to turn your homeownership dreams into reality! Hit up Strike and ask for Bhavini. 📞 4 Likes |
Re: Living In The UK: Property,Mortgage And Related by Solumtoya: 12:46pm On May 16, 2023 |
seyejohn94: Not bad... £100k income isn't beans sha 1 Like |
Re: Living In The UK: Property,Mortgage And Related by mex551(m): 4:47pm On May 16, 2023 |
seyejohn94:£100k? Hmm |
Re: Living In The UK: Property,Mortgage And Related by Pearlyfaze: 9:17pm On May 16, 2023 |
seyejohn94: Most Mortgage advisor I have spoken to said this same thing. If we want 10% deposit, we either have £100k combined family income or wait till we are 2 years old in the UK. Alternatively bring the 25%. We went for viewing today. We like the house and the area. Waiting for the outcome of the discussion between Advisor and lender. Fingers crossed. 1 Like |
Re: Living In The UK: Property,Mortgage And Related by seyejohn94: 9:36pm On May 16, 2023 |
Pearlyfaze: Which mortgage broker are you using? |
Re: Living In The UK: Property,Mortgage And Related by labiola: 10:16pm On May 16, 2023 |
Pearlyfaze: This condition no pure atall. I live in house no 7, house no 6 is put out for sales. I got an offer after removing £8k from initial asking price, only for the lenders who had previously given us decision in principle said they can lend us money because we never reach two years for uk. The thing pain me oh. |
Re: Living In The UK: Property,Mortgage And Related by mex551(m): 5:33am On May 17, 2023 |
. |
Re: Living In The UK: Property,Mortgage And Related by Thegamingorca(m): 7:26am On May 17, 2023 |
My destiny was designed to be on this thread |
Re: Living In The UK: Property,Mortgage And Related by Thegamingorca(m): 7:27am On May 17, 2023 |
mex551: Ask your question in the appropriate section https://www.nairaland.com/6969367/general-uk-visa-enquiries-part 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Solumtoya: 9:46am On May 17, 2023 |
labiola: Wow. |
Re: Living In The UK: Property,Mortgage And Related by seyejohn94: 12:08pm On May 17, 2023 |
labiola:Omo x 1000. You can try Strike broker and hear what they have to say. |
Re: Living In The UK: Property,Mortgage And Related by Pearlyfaze: 6:12pm On May 17, 2023 |
seyejohn94: Embrace is their name, given to us by Your Move estate agent 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Rapitex: 6:20pm On May 17, 2023 |
Please recommend a good mortgage advisor for a tier 2 holder with 2 years residency in uk so far |
Re: Living In The UK: Property,Mortgage And Related by semmyk(m): 10:38pm On May 17, 2023 |
Rapitex:We're not in a position to blindly 'recommend'. You may nonetheless check the mortgage broker list ( ) placeholder 5 on page 1, updated today) semmyk: 1 Like |
Re: Living In The UK: Property,Mortgage And Related by misterkelly: 6:20am On May 18, 2023 |
Please how do I open LISA account? Healhtyliving: 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Rapitex: 1:47pm On May 18, 2023 |
Hello All… is this time actually the best period to go on mortgage?. I got 2 options from Barclays Bank so far 5.75 percent (fixed for 2 years) and 5. 00 percent fixed for 5 years with 10 percent deposit on a tier 2 visa with just 2 years residence in uk..is this a fair deal considering the market of today and future forecast |
Re: Living In The UK: Property,Mortgage And Related by Lexusgs430: 3:40pm On May 18, 2023 |
Rapitex: The best time to buy a property, was yesterday....... The other best time, is today......... 😜🤣 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Solumtoya: 4:21pm On May 18, 2023 |
Lexusgs430: Yes o... Not financial advice, but which would you advice: Get a lower rate fixed for 5 years OR Get a higher rate fixed for 2 years? Quite tricky since Rates could be higher or lower in 2 years. 1 Like |
Re: Living In The UK: Property,Mortgage And Related by Lexusgs430: 4:29pm On May 18, 2023 |
Solumtoya: It's tricky....... Fix for longer and rates drop or fix for shorter and rate rises ....... If only I had a crystal ball...... My hunch would be fix for shorter and ride the wave ......... 😜😁 2 Likes |
Re: Living In The UK: Property,Mortgage And Related by Ticha: 6:00pm On May 18, 2023 |
Solumtoya: Will you happily live there for 5 years? Or will you want to upgrade houses? Can you overpay? If yes, I would go for 2 tears and overpay to bring the LTV down. If no, then 5 years for surety of payments. I think rates will fluctuate a bit as there's tinkering with the market. It's next to impossible to predict how they'll go. 3 Likes |
Re: Living In The UK: Property,Mortgage And Related by semmyk(m): 10:06pm On May 18, 2023 |
misterkelly:Kindly check Placeholder 3 on first page. semmyk: |
Re: Living In The UK: Property,Mortgage And Related by misterkelly: 12:31am On May 19, 2023 |
Thanks semmyk: |
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