This petition was submitted during the 2019-2024 parliament
Rejected petition Allow evidence of rental payments as deposit to apply for a mortgage.
Allow people who have evidence of being able to pay their rent each month, alongside a stable income to use this as a deposit for banks and building societies to apply for mortgages.
More details
People are trapped in rental agreements with the council or private landlords whereby payments are more than mortgage rates.
Some people are unable to save for a deposit for mortgage due to rental agreements, whilst still having a secure income. Mortgage payments can be less than rent payments, and yet; people need a huge amount of savings to prove they can pay. How can people have a huge amount of savings, whilst paying out each month to keep a roof over their head, that they don’t own?
This petition was rejected
Why was this petition rejected?
It’s about something that the UK Government or Parliament is not directly responsible for.
Petitions must call for a specific action that the UK Government or House of Commons is responsible for. Decisions about lending mortgages are a matter for indiviudal lenders, not the Government or House of Commons.
Landlords are able to report rental income to credit agencies, who can then take this into account as part of their rental scores. It is a decision for landlords and credit agencies whether or not to do this, The Government aren't responsible for operation of credit rating agencies or mortgage lenders.
We only reject petitions that don’t meet the petition standards.