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Is Omaze worth entering? The odds, flooding and winning London’s most expensive council house

It sounds almost too good to be true: spend £10 on an Omaze ticket and win a multi-million-pound property, mortgage-free, with no stamp duty or solicitor fees.

But behind the ads and luxury homes, what’s the reality of winning?

How Does Omaze Work? 🤔

Omaze runs prize draws offering luxury homes and cash, with 17% of ticket sales going to charity. Entry starts at £10 for 15 tickets, but bundle deals, subscription offers, discounts, and free postal entry options encourage higher participation.

Founded in the US in 2012 and launched in the UK in 2020, Omaze has partnered with charities like Teenage Cancer Trust, British Heart Foundation, Marie Curie, Alzheimer’s Research UK, and the RSPCA. It claims to have raised over £85 million for UK charities, guaranteeing a minimum £1 million donation per house draw.

Omaze is a for-profit fundraising company. The remaining 83% of ticket sales covers property costs, cash prizes, marketing, operations, and profit. In a 2024 draw, £4 million was donated to charity, meaning ticket sales reached £23.5 million, highlighting the scale of revenue generated by each competition.

Britain’s Most Expensive Former Council House 🏡

The latest Omaze draw, which closed yesterday (Sunday 27th April), offered a £4.5 million Georgian townhouse in Borough, London. The five-storey, four-bedroom property includes views of The Shard, a Chelsea Flower Show-designed garden, £150,000 worth of furnishings, and £250,000 in cash.

Built in 1820, it originally housed brewery bosses before becoming a council property in 1986, rented to a family for nearly three decades. Southwark Council sold it in 2013 for £2.3 million, making it Britain’s most expensive council house at the time.

Now fully renovated, the property sits near Borough Market and the South Bank. Local agents estimate rental income of up to £10,000 per month. The winner will soon decide whether to move in, rent it out, or sell.

Issues with Omaze Houses 😱

Several winners faced high running costs, property risks, or impractical locations.

• Glen Elmy won a £3 million Devon home but returned it after three days due to coastal erosion concerns.

• Darren and Mandy Wordon sold their £2.5 million Cotswolds house after warnings of annual flooding.

• Uttam Parmar sold his £3 million Cornish home eight weeks after winning due to upkeep costs.

• June Smith sold her £4.5 million Cornish mansion three months after winning.

• A couple in Deal sold their £2.5 million home within four weeks.

Ongoing costs and unforeseen risks often make selling the most practical option.

What Are the Odds of Winning?

In 2024, £4 million was donated to charity from one draw. Since 17% of ticket sales go to charity, total ticket sales reached £23.5 million. At £10 for 15 entries, that suggests around 35.25 million entries.

Omaze guarantees that 17% of every ticket sold goes to its chosen charity partner. The other 83% covers costs, prizes, marketing, and profit.

These figures will vary with each draw, so this is only a rough estimate.

• £10 (15 entries): 1 in 2,350,000
  

• £20 (30 entries, no discount): 1 in 1,175,000
  

• £100 (150 entries): 1 in 235,000
  
  

Discounts, subscriptions, and free postal entries impact total entries and odds. These are estimates only.

Should I Enter? 🎫

Treat it as a charity donation with a chance of winning. If you win, you’ll need to decide whether to live in the property, rent it out, or sell. Even with £250,000 cash, large homes come with significant costs.

There is a free postal entry option.

Do People Stay or Sell? 🤔

By 2023, out of 14 winners, 10 sold, one rented, and three stayed.

• Marilyn Pratt sold her £2.9 million Fulham townhouse after eight months.

• June Smith sold her £4.5 million home after three months.

• Uttam Parmar listed his £3 million property within eight weeks.

• Kevin Johnson is one of the few who kept his £3 million Islington townhouse.

The Bottom Line

Most winners sell. If you enter, expect that the real prize is the opportunity to cash out, not to live in a luxury home.

You Can Now Borrow 7 Times Your Income, But At What Cost? + Mortgage Market Key Facts 

Borrowers can now access mortgages up to seven times their annual income through a new offering from April Mortgages. This is well above the typical 4.5 times income limit set by most lenders.

The deal is available to first-time buyers, home movers and remortgagers earning at least £50,000. It requires fixing the mortgage for 10 or 15 years.

There are no early repayment charges for moving home or repaying in full, but switching to another lender during the fixed term will result in fees.

Are Sub-4% Deals Too Good to Be True? 🤔

Sub-4% fixed mortgage rates have returned as lenders anticipate a 0.25% base rate cut in May. These deals are often limited to those with large deposits and fees. Brokers warn that assuming rates will continue to fall is risky, given global economic uncertainty.

Some borrowers are choosing short-term fixes hoping for better rates, but experts suggest longer-term security could be the safer option.

🔑 Key Facts: Mortgage Market 2025

• Borrow up to 7x income with April Mortgages (10 or 15-year fix, £50k+ salary)

• Sub-4% mortgage deals return but require large deposits and fees

• The Bank of England is expected to cut the base rate by 0.25% on 8 May

• Average mortgage rates remain high for most:
  

  • Two-year fix: 5.21%

  • Five-year fix: 5.12%
    

• Around 800,000 fixed-rate mortgages (3% or below) are expiring annually until 2027

• No early repayment charges for moving or repaying in full on April Mortgages' long-term deals

What on Earth Happened with M&S Last Week?

Marks & Spencer (M&S) was forced to suspend online orders after a cyber attack disrupted its website, apps, contactless payments, click & collect, and gift card services.

What Did M&S Say? 🗣️

They reassured customers that no action was required and promised updates if the situation changed:

What Happened? 📎

• Tuesday: M&S confirmed a cyber incident after reports of technical issues

• Friday: Paused online, app, and phone orders in UK, Ireland, and some international sites

• Contactless payments and gift cards were restored

• Refunds issued for affected orders

Why Does It Matter? 🫰

• Nearly £1.3bn of M&S clothing and home sales came from online last year

• Warm weather boosts demand for summer shopping

• Analysts warn shoppers may turn to rivals during downtime

What’s Next? ⏭️

• M&S is working with the National Cyber Security Centre and Information Commissioner’s Office

• Quick resolution could limit long-term damage, but delays risk eroding trust.

Sources/Read More:

Is Omaze worth entering? The odds, flooding and winning London’s most expensive council house

• BBC News: Mortgages under 4% are back but dangers lurk for borrowers

• This is Money: New lender launches mortgages at seven times income

• Moneyfacts: Latest Mortgage Rates

• Bank of England: Monetary Policy Summary

What on Earth Happened with M&S Last Week?

• BBC News: Mortgages under 4% are back but dangers lurk for borrowers

• This is Money: New lender launches mortgages at seven times income

• Moneyfacts: Latest Mortgage Rates

• Bank of England: Monetary Policy Summary

What on Earth Happened with M&S Last Week?

• BBC News

• National Cyber Security Centre

• Information Commissioner's Office