Submitted on Friday 30th September 2022
Rejected on Wednesday 5th October 2022
Current status: Rejected
Rejection code: irrelevant (see below for details)
Add an interest cap to all new mortgage products
Pass a law to protect both homeowners and buyers from this financial turmoil by putting a interest cap on the mortgage rates (example : mortgage interest rates cap of 5%).
With the current market turmoil and interest hikes, it has now become apparent that remortgaging and buying homes with a mortgage will be quite difficult in the coming months. It is projected that the base interest will be above 6% next year. This would mean mortgages of above 10% which would be unaffordable for normal public.
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:
We can only accept petitions about things the Government or Parliament are directly responsible for.
Decisions about mortgage rates are a matter for lenders, not the UK Government or Parliament.
18.191.240.243 Fri, 19 Apr 2024 17:18:00 +0100
