Homes on offer for just £1 in Stoke

While figures from several house price indexes suggest that property values in many parts of the country are taking a downward turn, few buyers would expect to snap up a home for less than £50,000 let alone less than £50.

Looking to buy a property? Find thousands of properties on Propertywide.

Many would-be homeowners will be surprised to find that they can get their hands on property in the derelict Bond Street, in Stoke, for a recession-busting £1.

Stoke-on-Trent City Council has put the houses up for sale for a nominal fee in an effort to regenerate the area, where thousands of homes have been left empty and living standards have rapidly declined.

As an incentive to take on the run-down buildings, owners will receive a £30,000 low interest loan to bring the properties up to standard.

It is hoped that the £3 million scheme will help to reverse rising crime rates and a spate of burglaries which have devalued properties in the surrounding area.

“We are looking at ways to bring empty properties back into use to improve the living standards of homes within Stoke-on-Trent,” said Cllr Janine Bridges, cabinet member for housing, neighbourhoods and community safety.

“The idea would mean the council sells empty properties acquired with Housing Market Renewal Grant for a nominal fee and provide new home owners with a loan of up to £30,000 to implement a series of improvement works that the council deems necessary to bring the property back to a decent home standard.”

Buyers would have to live in the homes for five years before they could be sold, and the range of properties on offer includes two and three bedroom properties complete with a backyard.

Looking to buy a property? Find thousands of properties on Propertywide.

avatar
Posted by: WarrenWilson Categories: Buying, Estate Agents, Finance Tags: , 14 Comments

14 Responses to Homes on offer for just £1 in Stoke

  1. avatar joy etheridge says:

    I would like to know how to get in touch with the Stoke Council to enquire about these properties going for such a low price as I am interested for a friend.

  2. avatar Jannett Graham says:

    I would be very interested in learning more about the £1 per home scheme. Would you send me information?

  3. avatar olivia sullivan says:

    I am an investor would like to know more about properties for sale in Stoke.

  4. avatar Phil says:

    I was wondering if I could one of these houses for a pound and referb it and rent it out or have I got to live in it myself

    • avatar Nicola Severn says:

      Phil,

      The scheme is in the process of being finilised and should be ready by next year. I do believe however that there are caveats around what you can do with the property and you may have to live in it for 5 years minimum as well as invest money (council backed scheme) in bringing the property up to modern standard. Watch this space – we will provide more information when we have it.

  5. avatar gian giuliani says:

    when I first moved to Cambridge in 1980 there where two derelict detached cottages in Linton for sale for 1£ each. Is history repeating itself?

  6. avatar Karen Martin says:

    I am interested in this £1.00 per house scheme, can you please e mail me the details and how to apply. Thank you

    • avatar samina says:

      DEAR SIR/MADAM,
      COULD YOU PLEASE SEND ME THE NECESSARY/RELEVANT DETAILS ON HOW/WHERE/WHOM ETC. TO APPLY FOR THIS £1 HOUSE PURCHASE SCHEME IN STOKE-ON-TRENT.I URGENTLY REQUIRE REHOUSING,SO THEREFORE THIS WOULD BE GREATLY HELPFUL.THANKS ALOT

  7. how do i get one of these properties

  8. This is a good opportunity to purchase a property for a good price, spurs it up with the grant they offer and rent out… nice move…

  9. avatar jack says:

    The only downside is you have to be had lived in Stoke previously and/or have a job in the Stoke area…so unfortunately no good to outside investers like me

  10. avatar ann says:

    i am looking at moving north and am really interested in this scheme please could you email me some info on this thank you Ann

  11. avatar Debi Gould says:

    I would be very interested in this scheme. Please sent me details
    Debi Gould