Submitted on Friday 24th June 2022
Rejected on Thursday 30th June 2022
Current status: Rejected
Rejection code: irrelevant (see below for details)
Mortgage providers use private rental payments for mortgage applications.
Make banks and mortgage providers take into account rental payments as proof of affordability. The system is outdated and need to be revised.
I propose a change in the way mortgages are approved by banks and lenders. Many applicants are refused mortgages based on affordability checks, credit score, yearly income etc. Having a proven track record of payments while renting clearly shows it is affordable. Many mortgage repayments are lower than rental costs allowing money to be saved for maintenance, repairs or renovations
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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.
18.219.22.169 Sat, 27 Apr 2024 00:04:43 +0100
