House for a £1 anyone?

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Guest

Guest
#1
More than 600 people are interested in buying rundown homes in Stoke-on-Trent for £1 each, the city council has said.

Thirty-five derelict homes, mainly two-bedroom terraced properties, will initially be sold off in the Cobridge area, with a further 89 to follow.

Under the £3m project, the local authority is offering loans of up to £30,000 to help complete essential repairs on the houses.

Applications opened for potential buyers on Monday.

People have until 12 May to apply for one.

Stoke-on-Trent City Council said the initial 35 homes would be randomly allocated to the successful applicants.

The majority are two-bedroom, but there are also a few three-bedroom houses and possibly some flats.

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

Guest

Guest
#2
Anyone applying must have lived in the city for the past three years.

Other criteria they must satisfy include:

*A joint income of £18,000 to £25,000 a year - £30,000 maximum if they have children
*Applicants must have been employed for the past two years
*They must not own another property
*They must have the right to live permanently in the UK
*The new house must be their main home for at least five years

Some great points there to help some of the less fortunates living in Stoke. I like the idea that a property magnate cant buy them to rent them out.
 

Clubpaver

Vital 1st Team Regular
#3
Yeah but no-one actually chooses to live in Stoke do they,so they would have to sell them to existing residents of the city.Poor sods !
 

James06

Vital Football Legend
#5
I think its a brilliant idea. an area that was perhaps the worst shithole in the Uk (outside Liverpool) will probably become quite desirable and with a good community on the back of this.

Selling off houses cheap to get people on the property ladder and giving them the unreachable dream of owning their own home, is a stroke of genius. Suprised nobody thought to do this before?
 

murph

Vital Champions League
#6
You could say Jim it's a Stoke of genius.

That said I used to live near Stoke and can confirm it is a shithole.

Cobridge is fairly well known for it's prostitution and violence problems. So much some locals attack the TA Centre there!
 

murph

Vital Champions League
#10
It wouldn't be totally unfurnished.

All properties in Stoke-on-Trent come with one sofa and one white appliance to have in your garden.

Tru fact.
 

James06

Vital Football Legend
#13
yeah but that ent Stoke is it Murph?

relatively speaking there is a really nice place near Stoke called The Maldives.

Which in relation to Jupiter, is very very near Stoke.
 
#17
I had to pay considerably more for my house, why should the local authority subsidise people in this way purely because they don't have an income to maintain a regular mortgage? There is nothing wrong with renting, I rented for years before I was in a financial position to buy. If people are handed things on a plate this way they will feel no real responsibility or ownership and as such will end up typical of the type of "Woodies" we see in Northern Solihull.

Plus remember, it's your taxes that are subsidising this scheme rather than their income keeping the cashflow going that is so essential to help an economy recover.
 

BodyButter

Vital Football Legend
#18
Villan Of The North - 1/5/2013 17:54

I had to pay considerably more for my house, why should the local authority subsidise people in this way purely because they don't have an income to maintain a regular mortgage? There is nothing wrong with renting, I rented for years before I was in a financial position to buy. If people are handed things on a plate this way they will feel no real responsibility or ownership and as such will end up typical of the type of "Woodies" we see in Northern Solihull.

Plus remember, it's your taxes that are subsidising this scheme rather than their income keeping the cashflow going that is so essential to help an economy recover.
I got the impression that the houses were all pretty run down and the council were trying to find a way of getting people to live in them. There is a video on the BBC of the street and it ain't pretty.
 
#20
James06 - 1/5/2013 13:36

VotN, dont you live in Norway?
Hence the fact that I said that it was your tax subsidising them, not mine. I'm from Solihull and lived there for most of my life and visit family there regularly. Where I live is not really relevant to the principle, surely.