This petition was submitted during the 2019-2024 parliament
Rejected petition Prevent Banks and Building Societies from purchasing housing.
The UK government should step in to limit the ability of the banks to act as a housing provider.
Lloyds Bank recently announced a plan to purchase 50,000 homes to become one of, if not the, largest landlord in the country, ultimately choking the limited supply of houses available to the public.
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Allowing banks such as Lloyds to tie up such a large number of houses fundamentally harms the UK public by dramatically increasing demand on housing, as well as undermining the government Lifetime ISA scheme which was set out to empower people to buy their own homes despite soaring property prices.
Inaction here by the UK government will further empower banks to monopolise the public's ability to try to own their own homes, and must be prevented in the interest of the people.
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 need to call for a specific action that the Government or House of Commons is responsible for.
We understand that you are concerned about the increasing demand on housing but the UK Government is not responsible for controlling in which sectors private companies, including banks and building societies, can invest.
You could start a new petition calling for additional regulation in the property sector if this is something you would like to see happen.
We only reject petitions that don’t meet the petition standards.