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HomeMoneyThousands of renters can get payouts worth up to £5,000 – are...

Thousands of renters can get payouts worth up to £5,000 – are you eligible?

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THOUSANDS of renters can get up to £5,000 in FREE cash if they move to a smaller home.

A number of councils have schemes in place offering incentives for Brits to downsize and free up larger homes to bigger families who need it.

You could get free cash from your local council in order to downsize - here's how

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You could get free cash from your local council in order to downsize – here’s howCredit: Getty

This is because of a housing shortage that many areas across the UK face – which is often leaving large families no choice but to live in cramped living conditions.

It means that some councils are offering payouts to get you to downsize, including West Devon Borough Council.

The local authority announced last week that it would be offering up to £5,000 for families to move somewhere smaller.

You’ll get a fixed payment of £1,000, and a “High Demand Area” payment of £2,500.

Then, you’ll get £500 per bedroom which is “released” – which means the amount of bedrooms you have given up to move to somewhere smaller.

So if you moved from a four-bedroom house to a two-bedroom property, you’ll get £4,500 in total – a £1,000 fixed payment, a £2,500 “High Demand Area” payment, and an extra £1,000 for giving up two bedrooms and downsizing.

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The maximum amount you can get is capped at £5,000.

However, you’ll only be eligible for the help if you live in West Devon Borough Council’s catchment area.

You also need to be living in a family-sized house of two bedrooms of larger and want to move to a property that is at least one bedroom or less.

The council will not give you the money if the move results in overcrowding.

You also need to be renting from a housing association.

To apply, head to the council’s website for more information.

West Devon Borough Council isn’t the only council offering cash to households as an incentive to downsize.

South Hams District Council is also offering up to £5,000 to get people who don’t need the space moving into smaller properties.

The Royal Borough of Greenwich council is giving away £350 for every room you give up, and will cough up for all your removal fees.

While Moray Council is offering a minimum of £1,900, with an added £400 for each bedroom you have released.

You can find out who your local council is using the gov.uk’s online tool to get in touch and ask for more information.

Here’s five ways to get help with your rent as the average monthly bill soars to £1,060.

Here’s how to claim up to £4,500 in FREE cash in help for your rent.

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This post first appeared on thesun.co.uk

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