Submitted on Sunday 14th June 2020
Rejected on Wednesday 26th August 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Bring affordability criteria for mortgages and rents in line with each other.
To make affordability criteria for rental and mortgages the same, at the moment 2 people on minimum wage has a mortgage affordability of £564 per month, or rental of £1133.60. These should be the same.
Property prices have changed and inflated so much the old calculations are out of date, 2 people working full time on minimum wage should be able to buy the same type of house as they can afford to rent, the current criteria only serves to increase the bank balance of private landlords, and keep those on minimum wage in a rental trap, their options are no work life balance for years to get a deposit together, or rent for life.
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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 offers and affordability levels are a matter for lenders rather than the UK Government or Parliament.
18.117.145.146 Sat, 20 Apr 2024 12:05:54 +0100
