Other shared ownership schemes
In addition to the conventional shared ownership scheme described in this section, there are a number of other, smaller shared ownership schemes in existence.
Improvement for sale
Sometimes known as 'rehabilitation for outright sale', under this scheme registered social landlords buy and improve older properties, either for outright sale or through shared ownership. If the cost of providing the home is higher than the sale price, a subsidy from the Scottish Government covers the shortfall.
Cash incentive schemes
Some local authorities give grants to their tenants, or tenants of registered social landlords in their area, to give up their home and buy or lease a home in the private sector, and/or to carry out works to a property to provide additional accommodation. [1] These are discretionary schemes that are often referred to as 'portable discount' or 'cash incentive' schemes. Tenants do not have a right to be given a grant under a cash incentive scheme.
The rules for cash incentive schemes will vary according to the local authority, but generally there will be a resources test to determine whether an applicant is eligible, the scheme will provide flat-rate payments of around £10,000, and there will be a maximum price limit on the home that the applicant intends to purchase.
Last updated: 20 February 2018