Buy a House for £1.00

Does any one want to buy a house for £1.00:

http://www.bbc.co.uk/news/uk-england-stoke-staffordshire-22247663

there places in nottinghamshire (Mansfield) where there streets of enpty house and the government moans about not enough houses

thats 'cos mansfield is a sh*t hole Steve





Yes i'm from mansfield

ella wrote:thats 'cos mansfield is a sh*t hole Steve





Yes i'm from mansfield

i live the other side of nottinghamshire, when i was coming back from blackpoll the first tiem i went i went thow Mansfield couldn't believe how many house was bordered up

The restrictions on buying them mean that a lot of people who would consider it won't be able to...

haha yep it's the sh*t hole of the world!

I was so glad when i left school and moved out of there!

im no money expert but it looks like the catch is your borrowing 30grand at 7 times the goverment base rate so the amount you will be paying back will be quite high after 10 years

Warren wrote:im no money expert but it looks like the catch is your borrowing 30grand at 7 times the goverment base rate so the amount you will be paying back will be quite high after 10 years

And you are lumbered with a house for 5 years that you aren't allowed to sell.

If the houses are derelict it'll take the bulk of that money to even have them ready. You have to be in employment for 2 years previous and not have a current property. It doesn't leave a lot of people who can buy them. Only people who are working with no home at present and with subsequently end up in debt through it.

The only way it would have been good was if someone bought them all and fixed them up to the bare essentials and sold them on very, very cheap to made a quick turn around. At the same time housing people in financial need.

Great idea. Loads of empty houses in most towns and cities. I hope the majority go to young people and working class who without this idea would never been able to move out and start a life for themselves

It's a great idea to get some poorer families on the property ladder but I wouldn't live there it's a dump and very unnerving driving around the area on a night , just praying you don't have to stop

But hey, what can you expect for a quid , I think the average 2 bed terrace in Leek these days is around 80-90K

People have to have been employed for 2 years so hopefully there will be allot of hard working people who just need some help. Put them all together and you might find that part is alright. They will all have common ground and might actually form a small community with each other