This petition was submitted during the 2019-2024 parliament
Rejected petition Debate bringing in 100% Mortgages for long term renters.
Where someone has been renting for a minimum period of 24 months continuous, the rent paid should be considered satisfactory proof of affordability for a mortgage with 0 deposit.
Example: Someone paying £750 per month for that period, should be able to get a mortgage at the same monthly rate.
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A lot of the UK’s population have more than enough income to afford a mortgage but don’t have the disposable income if they are also having to pay rent.
This would make a massive difference to get people on the ladder and also aid the house buying market in the UK.
It’s a very simple concept, how do you expect someone to save £500 a month towards a deposit if they are also already forking out their wages on rent. 🤷♂️
This petition was rejected
Why was this petition rejected?
It’s about something that the UK Government or Parliament is not directly responsible for.
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