Submitted on Sunday 15th March 2020
Rejected on Friday 27th March 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
0% deposits for mortgages to tenants with successful payments for 5 years
If a family can show that they have successfully rented for a period of 5 years with no defaulted payments. Allow them a 0% deposit mortgage if the monthly repayment is up to or under their current monthly rental.
A lot of people struggle with rent, however rental could be used towards a mortgage repayment history. If someone can say pay £1000 a month rent successfully for say 5 years, then they would definitely be able to pay a mortgage for example of £500 a month. Which I believe would help our current financial crisis but also allow current landlords to charge up and profit from the scheme also
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We can't accept your petition because the UK Government and Parliament aren't responsible for the issue you raise. Mortgage rates and deposits are a matter for individual lenders.
You could start a petition calling for the Government to fund deposits for people with 5 years of rental payments, if that's what you'd like to see happen .
18.223.125.236 Sat, 23 Nov 2024 00:47:08 +0000
