Cheapest properties for sale that could cost only £15 a month

They are certainly cheap – but are they cheerful? The 20 lowest-priced homes in Britain have been revealed, with the most affordable costing just £4,000.

And the three properties with the lowest asking prices can all be found in the same area of Scotland’s Inverclyde, according to property website HouseSimple, who did their research on Zoopla.

They could all in theory be bought with finance costing less than £15 a month, although, in reality most lenders require a much higher minimum borrowing level of around £25,000.  

The three cheapest properties are all found in the Port Glasgow, Inverclyde, area of Scotland

Desirable? The cheapest property for sale is this one-bedroom flat in Port Glasglow, Scotland and has an asking price of £4,000

Desirable? The cheapest property for sale is this one-bedroom flat in Port Glasglow, Scotland and has an asking price of £4,000

Perhaps unsurprisingly, none of the properties are in the southern half of England. 

The cheapest property of all is a one-bedroom flat in Port Glasgow, Inverclyde (half an hour along the coast from Glasgow) and is on the market for £4,000. 

It is followed by two more properties in the same town, which have asking prices of £5,500 and £6,000 respectively.

In England, the lowest asking price is on a studio flat in Bradford, West Yorkshire, which is on the market at £13,000.

The cheapest house – as opposed to flat – on the market is a two-bed terrace in Bishop Auckland, County Durham, which has an asking price of £15,000. 

Another Port Glasgow property on the list is this one-bedroom flat on the first floor which is currently on sale for £5,500 and is close to supermarkets and a train station

Another Port Glasgow property on the list is this one-bedroom flat on the first floor which is currently on sale for £5,500 and is close to supermarkets and a train station

The third one-bedroom property in Port Glasgow is on the market for £6,000 

The third one-bedroom property in Port Glasgow is on the market for £6,000 

Buying agent Henry Pryor suggested why the properties were so cheap, saying: ‘Every week Phil and Kirstie remind us that when it comes to property it’s all about “Location, location, location”. These cheap properties aren’t mis-priced, they are mis-placed.

‘Suitable for someone on the run, perhaps these are homes that no-one wants to buy, some you would struggle to give away,’ he added.

‘At a time when we are begging the Government to build more homes you might think that every existing home was valuable, but these are the properties even estate agents would be embarrassed to try to sell.’

A common factor they all share is that they could theoretically be bought using a 10 per cent deposit of less than £2,000.

And in the case of the property with an asking price of £4,000, a 10 per cent deposit would equate to a mere £400. This would leave the remaining £3,600 that could be funded with a home loan, which would cost £15 a month.

This one-bedroom flat in a blonde sandstone building in Greenock, Scotland, has an asking price of £10,500. The home sold for £50,000 in 2007

This one-bedroom flat in a blonde sandstone building in Greenock, Scotland, has an asking price of £10,500. The home sold for £50,000 in 2007

This one-bedroom property in Bradford, West Yorkshire, is on the market for £13,000

This one-bedroom property in Bradford, West Yorkshire, is on the market for £13,000

Some refurbishment would be needed on this two-bedroom terrace in Bishop Auckland, County Durham, but it has a low asking price of £15,000

Some refurbishment would be needed on this two-bedroom terrace in Bishop Auckland, County Durham, but it has a low asking price of £15,000

This is based on a market-leading two-year fixed-rate mortgage for those with a 10 per cent deposit, which offers a rate of 1.96 per cent.

However, in reality, most lenders stipulating that the minimum amount they will lend is around £25,000, buyers may struggle to finance such a purchase.

Buying all of the cheapest 20 properties together would cost £303,900, the equivalent price of just one four -bedroom detached house in Kent. 

And the cheapest three properties together would cost £15,500, according to estate agent Housesimple.com.

This flat in Barrow In Furness, Cumbria, has an asking price of £15,000 and gas central heating

This flat in Barrow In Furness, Cumbria, has an asking price of £15,000 and gas central heating

Although requiring some work this two-bedroom home in Blackhall Colliery, Hartlepool, has an asking price of £15,000, a yard and on street parking

Although requiring some work this two-bedroom home in Blackhall Colliery, Hartlepool, has an asking price of £15,000, a yard and on street parking

This studio apartment in Bradford fully furnished and is on the market for £17,000

This studio apartment in Bradford fully furnished and is on the market for £17,000

This £17,000 home in Horden, County Durham, has two bedrooms and is partially double glazed

This £17,000 home in Horden, County Durham, has two bedrooms and is partially double glazed

This is cheaper than the cost of a new car, with the cheapest Ford Focus costing £18,300.

Sam Mitchell, chief executive of estate agents Housesimple.com, admitted: ‘These particular properties won’t appeal to the majority of buyers.’

But he said they could allow people to step onto the property ladder if you’re not afraid to purchase something that needs work.

He said: ‘Sellers in this market need to price sensibly – if you price it right, there’s a buyer out there.’

This ground floor one-bedroom flat in Wingate, County Durham, is on sale for £17,500

This ground floor one-bedroom flat in Wingate, County Durham, is on sale for £17,500

Another property in Port Glasgow on the list is this two-bedroom ground floor flat which has an asking price of £18,000

Another property in Port Glasgow on the list is this two-bedroom ground floor flat which has an asking price of £18,000

Also on sale for £18,000 is this two-bedroom terraced property in Horden, Peterlee

Also on sale for £18,000 is this two-bedroom terraced property in Horden, Peterlee

This one-bedroom house is listed as an 'ideal investment property' with a price of £18,000

This one-bedroom house is listed as an ‘ideal investment property’ with a price of £18,000

This ground floor flat in Darvel, East Ayrshire, Scotland, has an asking price of £18,000

This ground floor flat in Darvel, East Ayrshire, Scotland, has an asking price of £18,000

This one-bed flat in Newmilns, East Ayrshire, has a guide price of £19,000

This one-bed flat in Newmilns, East Ayrshire, has a guide price of £19,000

This  one-bedroom flat is on the market for £19,500 in Hamilton, South Lanarkshire, Scotland

This one-bedroom flat is on the market for £19,500 in Hamilton, South Lanarkshire, Scotland

This flat in Maybole, Scotland has a guide price £19,950 and comes with a shared back garden

This flat in Maybole, Scotland has a guide price £19,950 and comes with a shared back garden

This house in Horden, County Durham has two double bedrooms and is on sale for £19,950

This house in Horden, County Durham has two double bedrooms and is on sale for £19,950

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