Petition Reform Rent to Buy in England so that part of rent goes towards deposit

1. At least 50% of the rent paid during the Rent to Buy contract time should be available to use towards the deposit, instead of rent being discounted.
2. At the end of the Rent to Buy contract the property should be sold NOT higher than the price it was evaluated at when the contract was signed.

More details

One of the main goals of Rent to Buy is to allow people to save for a deposit and purchase the property at the end of the contract. However, if the cost of the property is too high it may make it impossible for people to buy the property with the money saved over the contract period. Another negative factor is that at the end of the contract the property may be evaluated higher than at the beginning, and if the property is evaluated at a lower price the owner can decide not to sell. As such Rent to Buy in England does not do enough to help first time buyers. I strongly believe the above reforms would be beneficial for both buyers and developers as well as for the housing crises.

This petition is closed This petition ran for 6 months

24 signatures

Progress of the petition towards its next target: 24 of 10,000 signatures required to get a government response

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10,000 signatures required to get a government response

Date closed 21 February 2024
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