Liverpool City Council sell houses for £1

Liverpool City Council has come up with a bold initiative to tackle a problem with derelict housing in some of its' streets. The Council offered up 20 houses for a sale price of £1.

The Council say that they received 2,000 inquiries about the 20 houses, and explained that they would not be sold to property developers, but to people who could prove a commitment to living in the area for at least 5 years. The condition of the 20 houses varies, with some houses having been empty for a couple of years, whereas others have been derelict for over 30 years. The buyers of the properties will likely have to spend several thousands of pounds to get the houses up to a standard that would enable them to take out a mortgage, and more money again to get them up to a proper living condition.

The move forms part of a wide campaign of rejuvenation in different areas of Liverpool, and if proven to successful could be picked up by Councils throughout Northern Ireland and the rest of the UK who have a similar problem with long-term derelict housing.

If you are buying, selling or remortgaging a property in Northern Ireland and require legal advice from a conveyancing solicitor, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.