Reform First Time Buyers Mortgages

• Petition

Petition Action

Reform First Time Buyers Mortgages

Petition Details

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.

Additional Information

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

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