TimeOut magazine ran a story about a £1.25 million house in London that was part of a £5 raffle ticket prize draw. Any person hoping to get onto the property ladder would have seen this story as a great chance to finally own their own home. However, the organizers have said ‘we have been contacted by the local council informing us we will no longer be able to continue with this draw’

Timeout initially wrote:

The average deposit for a house in London now stands at an eye-watering £90K. So imagine if you could buy a whole house for less than a cheap lunch. Well, a woman in Blackheath is raffling off her five-bedroom house for just a fiver a ticket.

The house has failed to sell since March, and the owner has been struggling to pay her mortgage because of disability. So to avoid repossession she’s taken an original route to selling it, giving Londoners the chance to bag the ultimate bargain in the process by raffling it off through her own website.

The house comes fully furnished, including £12K worth of crystal chandeliers and her leather sofas. That’ll impress your guests, for sure.

The only snag is she needs to sell 750,000 of the tickets by November to cover costs. If she doesn’t shift enough then a cash prize will be offered instead.

Check out the raffle and the pimpin’ house at HomeRaffler.com

However, the HomeRaffler website now has this cancellation notice

 Ticket holders, please be advised that unfortunately we have been contacted by the local council informing us we will no longer be able to continue with this draw. Therefore we will be cancelling the raffle with immediate effect. All tickets holders will be entitled to a full refund. Refunds should be made directly through PayPal by cancelling your ticket purchase order.

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