A £275,000 house near the proposed site of the HS2 high-speed rail network has been valued at £0, campaigners against the proposals claim.
The former Post Office in Turweston, near Brackley, has no value according to mortgage provider, The Woolwich Building Society.
Stop HS2 campaigners say the property is about 450 metres from the proposed HS2 line, and is well outside the 120 metres within which the Government is proposing homes would receive automatic compensation.
Former postmistress Elfrida Harper-Tarr, aged 97, had the home on the market for £275,000 and had received an offer for the property last year, but the buyer failed to get a mortgage after The Woolwich valued the property at zero pounds and zero pence.
A spokesman for The Woolwich said: “In the future there will be disruption during the construction of the rail link and there will be ongoing impact affecting the quiet enjoyment of the property. The [HS2 proposal has] had a significant prejudicial affect on property in the village and none have been recently sold on the open market. This property is therefore not considered a suitable security for normal lending purposes.”
Ms Harper-Tarr, who is blind, left the property for residential care in August, which is costing £3,500 a month, with her family saying the money is going to run out in three months.
Her son Mike, aged 76, said: “It’s going to be a bit late in the day for a lady who is blind and totally relying on carers to keep her alive. You’re faced with needing someone who is willing to pay cash and does not require a mortgage. This is going to be repeated up and down the country because people aren’t going to rush to buy a house near the HS2 route.”
The Harper-Tarr family will now apply for compensation under the Exceptional Hardship Scheme, which in two and a half years has only paid out to 16% of applicants.
Stop HS2 campaign co-ordinator Joe Rukin said: “Last week Patrick McLoughlin said the ‘upset’ of HS2 was worth it. Well he should get himself down to Turweston, or indeed anywhere near the route and tell them that and we’ll see if he gets out alive. We have heard of many estate agents telling people their houses are worthless and demanding their fees up front before marketing properties, but this is the first time we have seen an official zero valuation from a lender, and the situation is only going to get worse.”
 |  |