Submitted on Wednesday 11th May 2022
Rejected on Thursday 12th May 2022
Current status: Rejected
Rejection code: irrelevant (see below for details)
Debate bringing in 100% Mortgages for long term renters.
Where someone has been renting for a minimum period of 24 months continuous, the rent paid should be considered satisfactory proof of affordability for a mortgage with 0 deposit.
Example: Someone paying £750 per month for that period, should be able to get a mortgage at the same monthly rate.
A lot of the UK’s population have more than enough income to afford a mortgage but don’t have the disposable income if they are also having to pay rent.
This would make a massive difference to get people on the ladder and also aid the house buying market in the UK.
It’s a very simple concept, how do you expect someone to save £500 a month towards a deposit if they are also already forking out their wages on rent. ????♂️
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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. This is a decision for lenders and not the UK Government or Parliament
18.224.31.236 Sun, 17 Nov 2024 01:52:41 +0000
