Cash incentive schemes
This content applies to England only.
Housing laws vary between England and Scotland. Get advice relating to Scotland
These schemes are designed to help existing council and housing association tenants to become home owners, or move to more suitable accommodation. This frees up affordable rented homes so that they can be offered to people on housing waiting lists.
How does it work?
Cash incentive schemes work in two ways:
- to encourage owner occupation by giving tenants grants to help them to buy their own properties on the open market
- to offer tenants grants and assistance to move to smaller rented properties if their home is now larger than they need.
Am I eligible?
It depends on whether your council or housing association landlord offers this scheme. It is more common in areas where there is a lot of demand for rented council and housing association homes, particularly if you currently live in a home that is larger than you really need.
Not all areas run cash incentive schemes and the payments you can expect to receive vary from one area to another. Payments under the scheme can be quite generous and may include money towards the costs of moving and decorating.
Where can I get help?
Always get independent financial advice before you decide to go ahead with any property purchase.
We suggest that you to talk to an independent financial adviser who will be able to help you choose the best scheme for you. Independent financial advisers should be registered with the Financial Services Authority. They usually charge you for their services.
Alternatively, your local advice centre may be able to help you. Use our directory to find one.
