Rejected petition Change the mortgage structure from a credit rating to payment of rent history

Please sign to change the way in which mortgages are given. You currently need a good credit rating and good earnings for a mortgage. Yet theres no limit on rent demands as opposed to earnings.

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Many of us in privately rented accommodation that pay our 'high' rent demands on time every month in full are paying a lot more to a lot of people with a mortgage, which therefore makes it impossible to save for a deposit. Why not change the way you are assessed for a mortgage on how good a payer you have been with your rent over a period of time?

This petition was rejected

Why was this petition rejected?

It’s about something that the UK Government or Parliament is not directly responsible for.

The Financial Conduct Authority, which is independent, has overall responsibility for mortgage lending practice. You can contact the FCA here:

https://www.fca.org.uk/contact

We only reject petitions that don’t meet the petition standards.

Date submitted 5 December 2016
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