Owner of Britain’s first £1 home speaks

The owner of Britain’s first £1 home has spoken of his delight at getting on the property ladder.

Jayalal Madde, 48, was one of thousands of Liverpudlians to have applied to the local council for ownership of a disused building in Liverpool for just one pound.

As part of his agreement with the council, he will now have to renovate the property so it meets the Decent Homes Standard. It has been predicted this could cost him up to £35,000. He will also have to live in the property for five years without sub-letting it.

In an interview with dailymail.co.uk, self-employed taxi driver Mr Madde said he couldn’t wait to get the refurbishment under way.

“I am the happiest man in the world. We can’t wait to move in. It has always been our dream to own our own home,” he added.

Liverpool City Council has identified 19 other derelict homes that it plans to sell for £1 in the near future.

Joe Andersen, the city’s mayor, believes there is scope to bring 1,000 homes back into use via this innovative scheme.

Speaking to telegraph.co.uk, he said: “We are only looking for people who have a genuine commitment to bringing these properties back to life and turning them into a home they are proud to live in. We’re confident that Mr Madde is one such individual.”