Winning a house is a life-changing event. If you’ve ever attempted to buy a property, you’ll know that it can often be a lengthy process with costs that reach far beyond your hard-saved deposit. So, you might be wondering how many of these costs are covered by Omaze in the Million Pound House Draw. Spoiler alert: it’s basically all of them. Let’s take a closer look.
A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer. The loan is 'secured' against the value of your home until it's paid off. There’s no mortgage on the Million Pound House. The winner will own the house, free and clear. That means they could live in it and make it an incredible family home, rent it out and have an income for life, or, sell it and walk away a millionaire.
Stamp duty is a tax that is levied on single property purchases. We’ll cover stamp duty irrespective of the winner’s circumstances.
Conveyancing is the legal transfer of the deed of the house from one owner to another. We’ll cover all the conveyancing costs.
There are always legal fees associated with purchasing a house. We’ll cover all reasonable legal fees.
In all our photos of the Million Pound House online, you’ll see luxury furniture and top-of-the-range appliances. We’ve dressed the house to show it to its full potential but these items are not included with the house. The house will be unfurnished but it is worth noting that we’re throwing in £10,000 cash to help the winner get settled and this should be more than enough to get them started on interior design.
The winner will be responsible for the costs associated with running the house once they become the owner. These include council tax, energy and water bills, and internet costs. Again, the winner will have £10,000 cash to get them settled and might want to spend some of that cash on the running costs.
Win the Million Pound House
If you haven't entered the draw yet, what are you waiting for? We’re offering you the opportunity to win a house in Cheshire worth £1,000,000 and over 2,000 additional prizes. And the best bit? You’ll be supporting frontline nurses and support teams at Teenage Cancer Trust at a time when help is needed more than ever. So, don't delay, enter now.