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3% maximum deposit on houses for first time buyers

Submitted on Tuesday 30th August 2011

Published on Wednesday 31st August 2011

Current status: Closed

Closed: Wednesday 29th February 2012

Signatures: 7

Petition Action

3% maximum deposit on houses for first time buyers

Additional Information

Houses up to the value of £200,000 outside of London and houses up to the value of £350,000 in London for first time buyers should be subject to a Maximum of a 3% deposit.

This is valid only for living accommodation and not Buy-To-Lets or any other profit making mechanism.

It was not the youth who caused the problems and the current recession, so why should they have to pay for years to come in rented accomodation or living with family whilst the greedy people have houses.

a 3% cap shows a willingness to raise capital and allows a chance for people to get on the ladder.

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