This petition was submitted during the 2019-2024 parliament
Rejected petition 10% of rent paid by rentee to be saved on deposit to be used to buy a property
10% of each rent will be saved on deposit scheme that will let to use their saved money to buy a property. As the rents are regulated by free-market, the deposit will be funded partly by rentee, by landlord, and as deduction in income tax paid by landlord = initial deposit to buy a house.
More details
Rents are high in the UK, and rentees overpay to keep the roof over their heads, often for years. Yet they struggle to save the initial deposit to buy the property. The requirement to save 10% of the rent as the deposit will help rentees to get on the property ladder. The money can be used by local authorities, and building co-ops as a secured bond to build houses - this will act as a stabilising factor to house prices in long run, and generate revenue stream to boost deposit savings.
This petition was rejected
Why was this petition rejected?
It’s not clear what the petition is asking the UK Government or Parliament to do.
Petitions need to call on the Government or Parliament to take a specific action.
It's not clear if you want funds saved through the scheme you propose to be for individual tenants to buy a property, or be available to local authorities and building co-operatives to build houses.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
We only reject petitions that don’t meet the petition standards.