It is popular with divers and in February 2005 it was reported that a "gnome garden" complete with picket fence was removed from the bottom of Wastwater by police divers after three divers died in the late 1990s. It is thought the divers spent too much time too deep looking for the gnomes. There was a rope that led you there if you knew where to look for it. But now there's a rumour about a new garden beyond the 50m depth limit. As police divers we can't legally dive that deep ,so if it exists, the new garden could have been deliberately put out of reach.
But I know of a more mysterious tale about Wastwater:
A school friend of mine came from the Whitehaven area , not far from Wastwater. Her father , knowing my interest in lake monsters told me that in the late 50’s , early 60’s, men were putting water pipes into the lake for the nuclear plant cooling system at what is now known as Sellafield nuclear power station. He said they told tales in the pub of being scared by something in the water, a long monster. Sadly neither my friend nor her father are with us any longer. I was thinking about her today and it reminded me of the story. On digging deeper into the story I found this from 2002:
Anybody who has ever dived
Sceptics would say I was full of narcosis. I say I saw something the size and shape of a giraffe head off into the deep. When you stop laughing, consider this fact. There are little fish in Wast Water left behind by the retreat of the last Ice Age. Perhaps something higher up the food chain was left behind with them. Source:http://www.divernetxtra.com/biolog/1202monster.htm
If you have an interest in lake monsters look at divers sites online. You will be surprised by some the tales you find. They tell each other but not the world.