HomeRaffler commences London property lottery

Coinslot - London lottery Homeraffler
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Potential homeowners in London could get their first step on the ladder for just £5 via a HomeRaffler lottery offering a Blackheath home as its prize.

 

Home ownership can be seen as a bit of a gamble in market conditions as volatile as they are at present, but a legislation skirting website has taken this a step further and offered a highend London property through a raffle.

The unimaginatively titled HomeRaffler carries details of a five bedroom property in a conservation area at Blackheath in London, with different national newspaper reports putting the value of which between £1.25m and £1.3m.

The owner is selling £5 raffle tickets and details on the website include the wish to sell 750,000 tickets “to include our cost [sic] such as PayPal, administration and legal fees.”

Those so mathematically inclined may well point out that if all tickets were to be sold it would net the site a cool £3.75m, but it will all be worth it apparently for the property contains “£12,000 worth of lead crystal chandeliers.” which may just well be a deal breaker.

The raffle however has come under scrutiny pertaining potential breaches of the 2005 Gambling Act. A pure luck-of-the-draw event would require the property owner to obtain a Gambling Commission licence, which it is understood to be lacking, but sneakily enough a simple question upon application is enough to add a ‘skill’ element allowing for the circumvention of such laws.

A £5 first step onto the property ladder awaits so it seems.


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