Offer Government finance to first time buyers who don't qualify for a mortgage.

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Petition Action

Offer Government finance to first time buyers who don't qualify for a mortgage.

Petition Details

I propose for the government to offer direct financing to first-time buyers to enable them to purchase a home.
The loan is then to be paid back to the government monthly,
just as a mortgage would.
A deposit would still be required, so that the buyer has a vested interest in the property.

Additional Information

Banks make it incredibly difficult for first time buyers to purchase a home, even if they have a deposit.
Self-employment, minor blemishes on a credit report, or the lack of a parent to guarantee a mortgage makes things extremely difficult for first time buyers.
It would also 'Balance the books' for the government/treasury, as the property would be owned by the government until the final payment was made. Only then would ownership be transferred to the buyer.

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