Submitted on Friday 17th December 2021
Rejected on Tuesday 21st December 2021
Current status: Rejected
Rejection code: irrelevant (see below for details)
Change affordability test on mortgages
If someone has been paying a market value rent with no arrears for 3 years, this should be factored in as proof of ability to meet mortgage payments.
This would help address difficulty people have in obtaining a mortgage. People often pay more in rental than they would in mortgage payments.
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:
Petitions must call for a specific action that the UK Government or Parliament are directly responsible for.
Decisions about when to offer a mortgage are a matter for individual mortgage providers, not the Government or Parliament. As a result it is not possible for the Government or Parliament to take the action you have requested.
Landlords are able to report rental income to credit agencies, who can then take this into account as part of their rental scores. It is a decision for landlords and credit agencies whether or not to do this, The Government aren't responsible for operation of credit rating agencies or mortgage lenders.
52.14.8.34 Wed, 01 May 2024 14:47:08 +0100
