• iconNews
  • videos
  • entertainment
  • Home
  • News
    • UK News
    • US News
    • Australia
    • Ireland
    • World News
    • Weird News
    • Viral News
    • Sport
    • Technology
    • Science
    • True Crime
    • Travel
  • Entertainment
    • Celebrity
    • TV & Film
    • Netflix
    • Music
    • Gaming
    • TikTok
  • LAD Originals
    • Say Maaate to a Mate
    • Daily Ladness
    • Lad Files
    • UOKM8?
    • FreeToBe
    • Extinct
    • Citizen Reef
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube

LAD Entertainment

YouTube

LAD Stories

Submit Your Content
London flat available to buy for £10,000 but you might only be able to own it for two months

Home> News> UK News

Published 16:05 3 Sep 2024 GMT+1

London flat available to buy for £10,000 but you might only be able to own it for two months

In a typical tale of London property, it's never easy is it?

Jess Battison

Jess Battison

There’s a flat in London available to buy for £10,000. Yeah, I know, sounds pretty unbelievable to be honest, considering the usual horror stories of properties in the capital.

So, it’s not exactly surprising to hear this cheap price comes with a catch.

In Leyton, east London, the one-bedroom home is a bit of a steal at less than the average price of a house deposit. In need of a bit of love and a couple coats of paint, it’s the kind of place buyers would be begging for.

But whoever does get the bargain might only be able to own it for two months.

Advert

The flat is a bit of a bargain, kind of... (Jam Press)
The flat is a bit of a bargain, kind of... (Jam Press)

Yeah, hardly a forever home. So basically, the flat had a 60-year lease starting from 12 November 1964 – meaning the clock is ticking down.

It’s not all doom and gloom though, as a Section 42 Notice has been granted to extend this nearly-over lease.

However, the place’s agent has warned that the freeholder may not accept the offer. You guessed it, potential new owners should therefore be aware of the costs likely to incur.

This means whoever bags the bargain will have to battle this out with the freeholder.

Advert

READ MORE:

HILARIOUS 2ND PART TO 'BEST HOUSE MAKEOVER REACTION EVER'

6 MISTAKES EVERYONE MAKES ACCORDING TO FORMER BURGLAR

"It’s going to be down to the skills and the negotiating powers of whoever ends up buying this,” said the auction house.

“As to what deal they can do with the freeholder bearing in mind the freeholder has the right to just ignore them and let the lease expire. It’s an exciting one.

Advert

"It’ll be fascinating to see what it goes for and whether the person who buys it manages to then succeed in extending the lease at a sensible cost."

The place needs some, ahem, love (Jam Press)
The place needs some, ahem, love (Jam Press)

But lads, if you’re up for a challenge and to be honest, a bit of a gamble, the little home could be a total steal.

It sits on the ground floor of a mid-terrace house with a living room, kitchen, bedroom and bathroom. With a back garden and potential to convert it into a two-bedroom spot, it’s a real London investment.

Luxury Property News also reports that it’s pretty well-located with stations nearby and four schools for those wanting to raise a family there.

Advert

It’s set to go to public auction on 11 September, starting at 9.30am and is facilitated by Auction House London, Hampstead.

Plus, there’s a couple of open house viewings taking place this week as interest gets drummed up for the bargain home with a battle.

Ah London property, it's never just simple is it?

Featured Image Credit: Jam Press

Topics: London, Money, Home

Jess Battison
Jess Battison

Jess is a Senior Journalist with a love of all things pop culture. Her main interests include asking everyone in the office what they're having for tea, waiting for a new series of The Traitors and losing her voice at a Beyoncé concert. She graduated with a first in Journalism from City, University of London in 2021.

X

@jessbattison_

Advert

Advert

Advert

Choose your content:

3 mins ago
an hour ago
3 hours ago
  • 3 mins ago

    Haunting final telegram Amelia Earhart sent her husband as scientists 'finally discover' lost plane after 88 years

    In 1937, Earhart disappeared while flying across the Pacific Ocean with her navigator, Fred Noonan

    News
  • an hour ago

    Simulation reveals Amelia Earhart's 'final moments' as scientists 'finally discover' lost plane

    Back in 1937, Earhart was travelling across the globe with her navigator, Fred Noonan, when the pair disappeared

    News
  • an hour ago

    Ex-ketamine addict who spent £5,000 on drugs in a weekend reveals lowest point of his addiction

    Thomas Delaney bravely opened up about some of his toughest moments before getting clean

    News
  • 3 hours ago

    Royal Caribbean drinks package hack will save you money on future cruises

    Who doesn't love a bargain?

    News
  • Limited number of Andrea Bocelli concert tickets available to buy for London, Manchester and Dublin
  • There's only one place left to buy tickets for Sam Fender's sold-out London Stadium gig
  • Brits given deadline for mortgage scheme where you need just a 5% deposit to buy a house
  • Hidden hack to get three months of unlimited mobile data for only a fiver revealed