With the average price of a home in London standing at more than £600,000, this raffle offering a two-bed flat for £10 tickets is pretty appealing.
Raffle House is offering up a newly renovated two-bedroom flat in East London as part of a massive competition, closing in July this year.
A ticket costs £10 and the flat has been valued at £500,000, so if you were to win that’s quite the bargain.
To enter, you select how many tickets you’re keen on, choose a charity to donate to, then answer a question within the time limit before paying up.
The company is hoping to sell 60,000 tickets, with the plan to close the competition and announce the winner in July, but they may bring the end date forward if they meet their target early.
So you’ll have odds of one in 60,000 of winning.
Let’s talk about the grand prize.
As well as the flat, the winner will also receive stamp duty, legal fees, and £3,000 to cover the first year’s utilities and council tax.
The flat itself is pretty snazzy, complete with two bedrooms and a sizeable living room, and it’s in East London, where you’d be looking at saving a large chunk of money to get on the property ladder.
It’s newly renovated in simple neutral tones, but if you were to win you could redecorate it however you fancy.
If you win, the flat is all yours, so you can either live in it for free, earn money by renting it out (Kings Group valued the flat and said it could be rented out for £2,100 a month), or sell it and get around £500,000.
Raffle House has previously given away a cash prize of £173,012.93, handing it over to Lois Wright in August 2019.
That round of the competition was criticised for giving the winner this amount of money rather than the £650,000 home in Brixton originally offered as the top prize.
This time, the company has guaranteed this flat will be awarded to the winner.
Benno Spencer, Raffle House CEO, said: ‘We are delighted to guarantee the property for our current competition, becoming the first house raffle business in the world to do so.
‘Doing life-changing things means taking big steps, and we’re proud to be able to offer this amazing property to our customers for just £10.
‘We are also maintaining donations to two very worthy homelessness charities, Centre Point and Housing For Women. We aim to raise £15,000 for our charities this time around.
‘Guaranteeing the property establishes Raffle House as the leading house raffle company that does what it says it will do and awards properties to players.’
If you fancy entering the raffle, you can do so through Raffle House’s website. Make sure to read through all the terms and conditions first for your own peace of mind.
If you want tips and tricks on saving money, as well as chat about cash and alerts on deals and discounts, join Money Pot, our new Facebook group.
MORE: How much you need to be earning to buy a home in the most popular areas for first-time buyers
MORE: Student sets up store loaning free prom dresses to girls who can’t afford them
MORE: Father loses 20 stone after worrying his daughter would be bullied for having a ‘fat dad’
source https://metro.co.uk/2020/02/05/500000-two-bedroom-flat-london-raffled-10-ticket-12185733/
0 Comments