Increase support for first time buyers/families with mortgages/HTB properties

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Petition Action

Increase support for first time buyers/families with mortgages/HTB properties

Petition Details

1. Open the Support for Mortgage Interest (SMI) Scheme to all.
2. Give those with Help to Buy (HTB) properties a right to switch to Interest Only Mortgages.
3. Allow increase of HTB Equity Loans to up to 50% of the purchase price.
4. Cap rates on HTB Interest starting from year 6 to 0.25%.

Additional Information

We believe recent decisions by the Bank of England do not adequately account for the current cost of living crisis faced by families across the UK. Households are already struggling to meet their basic needs, with minimal or no disposable income. Increased rates will force many families into unmanageable debt, exacerbating their financial hardship and compromising their overall well-being. We urge you to consider the gravity of the situation and take the steps set out in this petition, to help address these concerns.

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