Thursday, 10 July 2008

Beautiful bungalow right on the coast. Breath taking views - And valued at just £1

A couple have recently had their house valued at just £1 by a bank, leaving it practically worthless. The house in Happisburgh, Norfolk sits on the edge of a cliff and due to lack of sea defences, it is thought the house will not survive much longer - nor is it likely to sell. The cliff is falling into the sea and insurers and banks wont value the house any higher, as the house is likely to crumble with it.

The couple are trying to gain compensation from the Government, saying something is needed for those in this situation who face losing their homes and their assets with it.

Back in 1987, the house cost £20,000 and stood over 400 years from the beach. Now, 21 years later it stands a mere 60 yards from the coastal line.