The owner of the property in Blackheath took the unusual route of selling her home by raffle, after she struggled to pay her mortgage owing to a disability. Renu Qadri was attempting to sell 750,000 tickets at £5 each to raise £3.75m to cover her costs.
The property is currently on the market at £1.25m, listed with Rightmove (pictured), but had failed to sell, driving the owner to unusual lengths. Renu Qadri used her own website to advertise the raffle, which south east-London property hunter Spencer Davis from Catford, spotted in Time Out magazine.
Davis visited the site yesterday evening, only to find the property raffle had been withdrawn.
“I saw the advert and thought ‘what a deal’ and that it was definitely worth a punt. It’s a beautiful house and area,” he said.
“It’s a big disappointment that the raffle was closed down. To win a property like that for £5 would have been a dream.”
The warning on the website reads: “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 at this time. Therefore we will be cancelling the raffle with immediate effect. All tickets holders will be given a full refund through PayPal.
“We are working with the local council and the Gambling Commission to get the raffle reinstated,” it added.
A report on the Telegraph said Greenwich Council had become involved and advised the homeowner that there may be potential breaches of Gambling Commission rules.
The paper reports that the home was purchased by Qadri using the Right to Buy scheme three years ago for the discounted price of £360,000. The owner would be liable to repay some of her discount to Greenwich Council.