08 July 2005
Social landlords are being urged to pilot a scheme to encourage their tenants to open bank accounts.
The Chartered Institute of Housing and Shelter claim their HomeSave scheme will appeal to tenants who cannot afford to buy shares in their property through the government's HomeBuy initiative.
Tenants who open a savings account would receive an initial £125 from their landlord and have every further £1 they invested matched, up to a total of £250.
Landlords were keen for tenants to get used to handling money ahead of housing benefit reform, when money will be paid to tenants instead of to a landlord, said Sarah Webb, director of policy at the CIH.
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