‘Ideal’ new build property for sale in ‘popular village’ on Zoopla for just £36,250

Cheap properties give Britons with less cash an option to get on the property ladder. However, there is often a catch. So why is the property listed on Zoopla so cheaply?

Only a 25 per cent share in the home is being sold.

The advert claims the house has a £145,000 open market value.

Those who move into the property will them pay a rent of £2,990.63, to be paid in instalments of £249.22 per calendar month.

There will be additional monthly charges of £1.18 for admin, a £9.17 management charge and £2.64 buildings insurance.

The total service charges are £12.99 (per calendar month), making the whole monthly cost £262.21.

Another cheap property for sale has been listed online for a quarter of the UK average house price. 

Situated on Old Chester Road, Birkenhead, the listing is posted at just £45,000.

According to Zoopla, the average estimated value for a house in the CH41 postcode is thought to be around £95,8444.

For others looking to get on the property ladder a Help to Buy ISA could assist. 

Where you can buy properties worth over £250k with five per cent deposit with the savings account?

Launched in December 2015, the ISA allows an initial maximum start-up cost of £1,200 and boosts any further deposits by 25 per cent capped at £200 a month, with the Government paying in £50 for every £200 deposited.

To qualify, you need to be a first-time buyer and purchase a house with a value no more than £250,000 or £450,000 in London.

source: express.co.uk