Submitted on Thursday 21st July 2022
Rejected on Friday 22nd July 2022
Current status: Rejected
Rejection code: irrelevant (see below for details)
Banks to acknowledge rent payments as equal as mortgage payments.
For first time buyers to be able to get on the property ladder by using their rent payments as proof for affordability when trying to purchase a home. If your rent is more than what you could be paying on a mortgage rate then banks should allow this to be accepted for a mortgage.
With the current state of the property markets mainly in wales but across the UK, its impossible to get on the property ladder as a first time buyer. Rent is on the increase and many tenants are paying more in rent than what it would be on a mortgage. Government need to change this to help the current housing crisis in Wales and the UK.
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:
Decisions on how to determine the affordability of a mortgage to a potential homeowner is a commercial matter for lenders, not the UK Government or House of Commons.
You may wish to sign this petition which calls for a related action:
Raise stamp duty land tax (SDLT) thresholds for first-time buyers: petition.parliament.uk/petitions/611488
3.145.23.123 Fri, 26 Apr 2024 06:26:31 +0100
