Property sold for £1 now a family home

A couple who bought their house for just £1 have opened the doors of their bargain property to the Mayor of Liverpool and the press.

The home was bought by Sam and Rachael Kamau through the Homes for a Pound Plus scheme in Liverpool. The house was completely dilapidated, requiring work on every aspect other than the bricks of the outside. The couple had moved from Kenya to Liverpool 16 years earlier, and had been renting a property. However, they decided to try the scheme as a potential way to get onto the property ladder.

The roof was not lined, so there was water running down the stairs, and without a bathroom floor, it was possible to see into the kitchen downstairs. The couple could not even enter the house for a look around as it was so dangerous. However, with two daughters aged 19 and 12, the Kamaus forged ahead and spent thousands of pounds, as well as a full year, restoring the property back to its former glory.

The Liverpool Council has launched the scheme to restore around 6,000 properties and make them suitable for inhabitation. To be eligible for the scheme, buyers have to either work or live in Liverpool, and be able to restore the property back to a standard deemed to be decent, and not sell for five years.

Joe Anderson, the Liverpool Mayor, said that he was proud of the achievement, and that families like the Kamaus are helping to create a new community.

For those who do not have this opportunity, CeMAP qualified mortgage advisors can help buyers to find the most suitable mortgage for their purposes.



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