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 our houses. The winner will own the house, free and clear. This 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 reasonable conveyancing costs for the winner.
In photos of our Million Pound Houses online, you’ll see luxury furniture and top-of-the-range appliances. For all of our draws (unless stated otherwise), furniture and appliances are included! It's also worth noting that we throw in a cash amount to help the winner get settled.
The winner will be responsible for the costs associated with running the house once they become the owner. These include items such as council tax, energy and water bills, and internet costs. Omaze provides the winner with a cash sum* to get them settled, which can be used for running costs should they choose.
*please check the experience rules for exact details.
Your Chance to Win
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