A family in Liverpool have been handed the keys to the first of the city’s homes to be sold for £1 as part of a new initiative.
In February, Liverpool Council provided locals with the opportunity to purchase one of 20 vacant properties for the minimal sum providing they promised to not only refurbish them but stay there for at least five years.
This is great news for local tradesmen, especially joiners on the Wirral who are looking to increase their workloads.
Joe Anderson, Liverpool’s Mayor, presented the keys to the Cairns Street property in Granby to Jayalal Madde.
More than 1,000 hopefuls filled in applications for the programme and 10 have already receiving the news that they have been successful.
Mr Maddle, husband and father to two children, said that he will finance the refurbishments by turning to a credit union.
The pilot initiative is one part of a plan to see 179 empty properties being used again in the areas of Arnside Road, Picton and Granby.
In order to qualify, applicants need to either work or live in the city and should be first-time buyers. They also have to agree not to sub-let.
The work needed on each individual property is likely to cost over £35,000.
Upon making the announcement, the Mayor said it shouldn’t be forgotten that the process to bring the properties up to scratch will be a challenging one.
He continued to explain that the pilot initiative was part of the commitment he has made to breathe new life into 1,000 empty houses across Liverpool.