Tramway Path Win Another 500k Property Review
Tramway Path are sticking to their new tried and tested formula for property prize draws with another cash prize to buy your home. Up for grabs is property anywhere in the UK up to the value of £500,000. The winner can choose their location which makes this very flexible. In addition there's 2 x £50K cash prizes too. Ticket bundles start from £5 but there's a free postal entry option available.
Launched: 25th October 2023 Closes: 6th December 2023
Platform: Tramway Path
Location: London, W1
House Value: £500000 (4 Bedrooms)
Ticket Price: £5.00 (Free Entry Available)
Tickets Sold: Unknown
Cash Alternative: 70% of ticket sales
Cash is king when it comes to Tramway Path pay to enter prize draws as once again they're giving their prospective winner the opportunity to buy the property they like and where they like in The UK. Well provided it's up to the value of £500,000! Everything about this draw is pretty much identical to the last one so there's not a lot we can add. In fact the review below will most likely be word for word. There is however one important difference and that's this time round there's a couple of extra cash prizes. Two winners (second and third respectively) will each collect a nice £50,000 prize. It might not be the biggie but it'll still be a welcome arrival in anyone's bank account just before Christmas!
About The Property
As there isn't an actual property on offer once again we can't tell you about it. What we can tell you is that if you win then you must purchase either a house or an apartment that's in England, Scotland or Wales. No business premises allowed and tough luck if you want to live in Northern Ireland! If you do win you also only have 60 days in which to find a property that you want to buy. we're not quite sure why this is limited but it does feel a little restrictive. However you can purchase more than one property (provided the combined value is under £500K presumably)? A few things we don't quite know is what happens to the residual cash say the winner decides to purchase a £400,000 property? Will Tramway Path allow a winner to purchase a £550K (or more house) provided the winner stumps up the extra? Do any fees, taxes etc come out of the £500,000 pot are they extras? We're still none the wiser on these points.
How To Enter The Competition
Tickets for this Tramway Path competition cost from just £5 each (up from £3 on the previous prize draw). Other ticket packages cost £10 for 7 entries, £25 for 25 entries, £50 for 70 entries and £100 for 200 entries. Note that you do also need to be registered with Tramway Path in order to participate in this competition. Previously you needed to answer a multiple choice question to qualify your entry but this is now no longer a requirement. According to the FAQ free entries are available and thankfully Tramway Path have included all the necessary info for those of you wanting to opt for this entry route.
For this competition, Tramway Path aims to sell a minimum of 120,000 tickets (revenue £600,000 based on everyone purchasing £5 tickets) up to a maximum of 500,000 (revenue £2.5million based on everyone purchasing £5 tickets) before the closing date of 6th December 2023 in order to giveaway the property as a prize. The terms don't indicate any suggestion of an extension to the closing date should insufficient tickets be sold. If the target isn't reached then the winner will be offered 70% of the ticket receipts instead. As far as we can see there's no mention of charity or donations with respect to this particular prize draw.
October has been a decent month for the win a house sector with new prize draws from Omaze, Cloverhut, Raffle House and now Tramway Path. We also know that Bounty are about to add another property to their platform. What we like about Tramway Path is that they're always evolving the draw so they've tried various locations, type of property and now seem to have settled with the here's the cash buy where you like approach. To build on their last draw they've added additional cash prizes to make things a little more interesting. We do wonder whether a subscription model like Omaze is just around the corner as surely the Tramway guys have enough interest for this to happen? As ever we expect this one to create a new property winner so do look out for early bird and last minute discounts on ticket prices.
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