Submitted on Friday 14th April 2023
Rejected on Monday 17th April 2023
Current status: Rejected
Rejection code: irrelevant (see below for details)
Reform First Time Buyers Mortgages
I propose that first time buyers with 5 years history of continuous rental payments without default are offered mortgages without deposit on a 25 year term based on the monthly average rental value paid over the last 5 years.
For too long now a large section of the population of this country have been subjected to crippling private rental rates and are looking toward old age homelessness! I propose that first time buyers with 5 years history of continuous rental payments without default are offered mortgages without deposit on a 25 year term based on the monthly average rental value paid over the last 5 years. So to be crystal clear, if the average rent you've paid over the last 5 years is £1400, you'd be offered a £420K mortgage.In calculating the mortgage offering in this way, mortgage lenders are given assurance of affordability and first time buyers, a mortgage amount that actually translates into their current accomodation requirements
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 who to lend mortgages to, and the terms and conditions for these, are a matter for lenders, not the UK Government or Parliament.
3.16.207.33 Fri, 08 Nov 2024 06:11:47 +0000
