Did you know that you can now be the owner of a £700,000 house for just £1?

WinAbode is a company that gives anyone with access to the internet the chance to win a luxury house for just £1.

The idea is to raffle off impressive properties and get rid of the hassle that comes with buying property, the fees and hassles.

The competition is made fair for everyone by capping the amount of times each person can enter at 150 times.

The idea came from Richard Blaiberg and Sam Park who were frustrated with property chains and renting woes.

On their website they state: “Sellers will advertise their homes on our platform with the aim of selling enough tickets to cover the value of their home.”

Tickets range from £1 to £10 and give you the opportunity to choose the house of your dreams.

But this is not just a lottery - as entrants must also answer a “skill-based competition,” to be in with a chance of winning.

The first house on the website is located in Dalston but new properties are to be announced soon around London.

Want to enter? Visit their website https://winabode.com/