Rejected petition Increase regulations over lenders advertising mortgage rates and then increasing them without providing a valid reason

More details

We need increased regulation over banks/building societies and other lenders that advertise competitive mortgage or other loan rates with incentives to get you in, and then once your in the process (buying a house etc) they increase the rates, when to refuse and start again would cause timely delays and additional credit searches which would in turn affect credit ratings. When rates other than those advertised are offered they should HAVE to provide a written valid reason for the increase (i.e low credit score of applicant) so that applicants are fully aware of why they are not able to access advertised rates and do not feel conned by an industry that is already rated poorly in the general public perception.

This petition was rejected

Why was this petition rejected?

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

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

Date submitted 8 November 2012
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