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Five small gambles that could net you enough for a mortgage deposit



It can be tough to get on the property ladder and even the initial deposit is a big financial hurdle for many,  setting the average UK homebuyer back by £23,271.

With wages failing to keep pace with house price growth the affordability gap continues to grow and so property competition has looked at five scenarios where you could win enough cash to put down a 10% deposit on a typical property. 

Premium Bonds monthly draw

Premium Bonds see investors buy bonds where they qualify for a prize after a month.

If you invest £1 in a bond you have a one in 25,500 chance of winning a prize, however your odds of winning a meaningful prize are slimmer.

Indeed, the chance of winning more than £25,000 with a £1 bond is one in 3,565 million.

The chance of winning the top prize of £1m is also one in 40.99 billion, so don’t hold your breath. 

The Pools – footie5

Think you know your football?

Using a free bet, you could win £25,000 if you correctly predict the results of five matches in a given round. 

SkySports Super 6 

This is like the previous bet – but even harder.

If you predict the scores of six football matches you’d win £250,000, over the

£232,710 average house price. 

It seems a tall order, though you could attempt the feat as a free bet.

Betway 4 to score

You could similarly win a hefty sum with Betfair with a free bet, though the criteria to win is precise.

In four matches you’d need to select the first goalscorer correctly every time.

This sounds achievable if strikers like Harry Kane score first, though if a center-back scores from a corner you might come unstuck.

Euromillions – match 5

This game is £2.50 to play and the goal is to match five numbers with what’s selected.

If you get all five you’d win around £23,590, enough for a house deposit.

There’s approximately a one in 3.107 million chance of that happening.  

Marc Gershon from commented:

“Property affordability has become a huge issue and while these bets may seem unlikely to come in, they may be a more realistic route to secure a foot on the ladder for some. Whether it’s football, premium bonds, the lottery, or even a house competition like Win My Dream Home, it’s always important to bet responsibly and within your means.” 


Cost of maintaining a buy-to-let hits £12k a year in parts of the UK



Leading property management platform, Howsy, has looked at the cost of maintaining a buy-to-let property each year and how this varies across the UK.  

Buy-to-let can be a tricky business if you don’t tackle it properly and there are a whole host of costs that can trip up the amateur investor. From the more obvious additional three percent stamp duty tax, to various other tax implications, void periods, mortgage costs, agency fees, the cost of finding a tenant, and more, Howsy’s previous research shows the average buy-to-let brings an annual return of just £2,000.

With the Government’s continued attack on UK landlords, making the most out of your investment financially can be tough and even when you consider all financial commitments for a property, many can still be caught unaware by out of the blue maintenance and repair costs. 

Buy-to-let landlords should squirrel away savings in anticipation of these events and an industry rule of thumb is an annual budget equivalent to 1% of your property’s value. 

So what does that equate to?  

Across the UK landlords should be tucking away an annual budget of £2,344 to cover repairs and maintenance, with this rising to £4,746 in London, with the North East home to the lowest repair costs at just £1,328. 

Of course, markets with higher rent returns may seem promising from an investment standpoint but the higher the reward, the higher the cost when things do go wrong. In Kensington and Chelsea, this annual 1% saving climbs to an eye-watering £12,292, hitting nearly £9,000 in both the Cities of London and Westminster.  

Outside of London, South Bucks and Elmbridge are home to the most expensive buy-to-let maintenance costs at £6,091 and £6,019 respectively.

Head to the likes of Burnley or Blaenau Gwent however, and this yearly maintenance budget drops to less than £1,000 a year.

Founder and CEO of Howsy, Calum Brannan, commented: 

“The buy-to-let sector can be a minefield for the amateur investor and now more than ever, it’s imperative that you do everything you can to maximise the return on your investment.

While technology now allows a greater level of control and service when managing your investment at a lower cost via online platforms, it isn’t just about the financial side of things. Providing a fit for purpose property is not only a legal requirement but essential to ensure a happy tenancy and a reduction in void periods.

Of course, things can go wrong and having the budget available to fix them is a must. In the worst-case scenarios, a cash pot equal to one percent of your property’s value might not be sufficient, but it should cover you for most eventualities and is a good benchmark to start on.

As with all buy-to-let investments, good preparation, organisation, and education are key, and whether you go it alone or have a great management agent if you stay on top of things, a bricks and mortar investment is still one of the best you can make.” 

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