Advert

Couple Buys Home For Just £1 But It's In Stoke-on-Trent So Swings And Roundabouts

Published 
| Last updated 

Couple Buys Home For Just £1 But It's In Stoke-on-Trent So Swings And Roundabouts

It's no news that one of the most common fear among younger generations in the UK is never being able to buy our own house - but we shouldn't panic so much. There is an antidote: Stoke on Trent.

Rebecca Dennis and Chris Benn bought their first home together there for the stupefying price of £1. For scale, that's four Freddo's.

According to The Sunday People, it is now estimated to be worth £60,000 after the jammy couple spent four months sprucing it up.

They were delighted when they originally pruchased the property through the city council's home ownership scheme which offers resident the chance to spend just £1 on a house.

Advert

After paying their deposit, the Stoke on Trent council then invested £30,000 in the two-bedroom mid-terrace.

Rebecca and Chris will repay the loan over the course of ten years until they become complete owners of the house.

A run-down property in the Cobridge area. Image: Google Maps

Advert

The scheme's bid to help revive poorer areas demands that potential residents live in the houses for at least five years and earn between £18,000 and £25,000 a year.

One of the couple also had to have a 16 hours a week contract.

Chris, 22, an independent contractor, didn't have such a thing. Rebecca being a photography student at Staffordshire University, meant that she had to take on a new job at a supermarket to ensure qualification.

"It's a dream come true to have a house of our own. The £1 price tag is a special bonus!," she said.

Advert

"We really had to fight for it - even though it meant me taking on my third job and upping my hours it was totally worth it."

Featured Image Credit: Google Maps

Topics: Couple, Cheap, Property, House

Josh Teal
Advert
Advert
Advert

Chosen for YouChosen for You

News

Boris Johnson Confirms Pubs In England Will Fully Reopen On 17 May

a day ago

Most Read StoriesMost Read

Entertainment

​Channel 5 Is Looking For More Naughty Dogs To Star In New Series

2 days ago