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This petition was submitted during the 2019 to 2024 Parliament

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Closed Increase support for first time buyers/families with mortgages/HTB properties

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1. Open the Support for Mortgage Interest (SMI) Scheme to all.
2. Give those with Help to Buy (HTB) properties a right to switch to Interest Only Mortgages.
3. Allow increase of HTB Equity Loans to up to 50% of the purchase price.
4. Cap rates on HTB Interest starting from year 6 to 0.25%.

We believe recent decisions by the Bank of England do not adequately account for the current cost of living crisis faced by families across the UK. Households are already struggling to meet their basic needs, with minimal or no disposable income. Increased rates will force many families into unmanageable debt, exacerbating their financial hardship and compromising their overall well-being. We urge you to consider the gravity of the situation and take the steps set out in this petition, to help address these concerns.

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  • Petition published

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    If this petition gets 10,000 signatures, government will respond to it.

    If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

    This petition will stay open until 10 January 2024.