A couple have decided to raffle off their £490k Greenwich flat, blaming their inability to sell it through estate agents on Brexit.

Jack and Charlotte Smith have been trying to sell their third-storey, two-bedroom flat in Tarves Way for the past ten months.

Jack said: “We believe this is due to the effects Brexit has had on the market, and a number of new build developments within Greenwich which have Government schemes and incentives.”

Now the couple are planning to sell the Greenwich flat via the unconventional means of a prize draw – and it only costs £5 to enter.

The winner will get the flat, stamp duty of up to £13,000, legal fees up to £1,000 with VAT, and a bottle of champagne to celebrate.

The flat was built in 2008 and includes two bedrooms, a modern bathroom, open plan kitchen and lounge, and a full-length balcony.

The property was recently decorated by Jack and Charlotte and it is located minutes away from Greenwich station and just a short walk down to the famous Cutty Sark.

The competition runs until January 26 or until 130,000 tickets have been sold, with a winner being announced seven days later.

If they do not sell all the tickets, the competition will be extended by six months, and if they still don’t meet the target, the prize will become the total funds raised minus 20 per cent admin fee and five per cent charity donation.

The winner will be drawn via the independent company PrizeShark, and if and the couple have said if they sell all their tickets, £50,000 will go to charity.

Half will go to Thrombosis UK, a charity for the research and care for those suffering from blood clots after Charlotte’s dad died aged 56 from deep vein thrombosis. The other half will go to SUDC UK, a charity that deals with sudden unexpected deaths in childhood.

Jack said: “We would like to give somebody the opportunity to own a flat in London mortgage free, London is one of the most expensive places to buy a property and there are many people struggling to save for a deposit.

“It would be an incredible feeling, handing over the keys to the flat and them not having to worry about a mortgage.”

For more information and to enter the prize draw, visit prizeproperty.co.uk