Stoke-on-Trent homes on sale for £1

Derelict houses are being put up for sale in Stoke-on-Trent but homeowners will have a giant DIY project on their hands.

Stoke-on-Trent City Council is selling more than 100 run down houses for £1 each.

The council has initially put up 35 derelict homes for sale and has seen a huge rush in demand from potential homeowners desperate to bag a bargain.

More than 600 people have applied to buy the homes listed, which are mainly two-bedroom terraced buildings.

Buy a house for £1

The initial house sale is taking place in the Portland Street area of Cobridge and another 89 houses across the area are expected to be made available soon.

The bargain property sale is part of a £3 million council project. People who buy the houses will be offered loans of up to £30,000 to pay for repairs to the building.

Over the five years of the project it’s hoped a total of 124 homes in Portland Street and Bond Street will be brought back into use.

Those who are interested in buying one of the £1 houses need to register before 12th May and the houses will be allocated at random to those on the list who have been approved.

“We are now at a very exciting stage in this major project which will see a rundown area of the city transformed. This is a long running commitment to Cobridge on behalf of the city council,” Councillor Janine Bridges, cabinet member for housing, neighbourhoods and community safety, said.

“The project will not only benefit the residents who are currently living next to properties that have been vacant for some time, it will also give families moving into the homes the chance to take their first step on the property ladder,” she added.

If you’re keen on applying for a house, you’ll need to register your interest via the Stoke City Council website before the May deadline.

Cheap housing schemes

The idea behind the scheme is to give people who may not be able to afford the average house deposit a chance to get on the property ladder.

But it’s not something to be bought lightly as most of the homes require major DIY work and you need to commit to live in the home for at least five years.

This is not the first time house prices in Stoke-on-Trent have been slashed and the last scheme to run in 2012 was in the suburb of Tunstall.

Liverpool City Council also offered Victorian terraced houses in the area of Granby earlier this year for £1 each.

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