1,000 bids for 20 £1 homes
LIVERPOOL City Council says more than 1,000 people are competing to buy 20 homes for £1.
It announced in February that it was launching the pilot scheme as part of plans to regenerate vacant properties in Granby and Picton.
The area was part of the previous government’s doomed Pathfinder housing market renewal initiative which involved buying up homes with the intention of knocking them down and building new properties.
The scheme ground to a halt in 2011 after being axed by the coalition, leaving hundreds of boarded up homes in Liverpool and elsewhere.
More than 4,000 people initially registered an interest for the £1 home scheme and 1,036 people have submitted a formal bid.
Those who secure a home will be expected to refurbish it to “decent home standard” within 12 months. It must be in a reasonable state of repair, be warm, weatherproof and have reasonably modern facilities. The council estimates around £35,000 will need to be spent on each property. The freehold will only be transferred once the work is complete and has been inspected.
Mayor of Liverpool Joe Anderson said: “There has been an amazing response to this pilot scheme and it has captured the imagination of many people. It is part of my commitment to bring 1,000 empty properties back into use and help as many local people as possible get onto the property ladder.
“We are looking for people who have a genuine commitment to bringing these properties back to life and turn them into a home they are proud to live in.”
Applicants must live or work in Liverpool, must be a first-time buyer and must be employed. They have to also agree to live in the property for a minimum of five years and not sub-let it within this time.
