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Accrual of time in rented accommodation should lower a home buyers deposit

Submitted on Tuesday 30th August 2011

Published on Friday 2nd September 2011

Current status: Closed

Closed: Friday 2nd March 2012

Signatures: 2

Tagged with

5 years

Petition Action

Accrual of time in rented accommodation should lower a home buyers deposit

Additional Information

A discount should be applied to all potential home buyers who have lived in rented accommodation for a period of time as they have shown an ability to afford a property.

For instance on a property that needs a deposit of 15%
after:

> 1 year a discount of 20% should apply bringing the deposit down to 12%
>2 years a discount of 35% should apply bringing the deposit down to 9.75%
>3 years a discount of 50% should apply bringing the deposit down to 7.50%
>4 years a discount of 65% should apply bringing the deposit down to 5.25%
>5 years+ a discount of 80% should apply bringing the deposit down to 3%

Thus rewarding people who pay their bills on time and can show a record of being able to afford accommodation.


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