Consider ability to pay rent instead of finding a mortgage deposit

Rejected 17 signatures

What the petition asks

With the governments failed help to buy scheme rumoured to be scrapped, why is no one petitioning for a persons proven track record on a rental property to be considered in lieu of a deposit. if you've paid £1,000 a month rent for 3 years, then you can afford a £700 a month mortgage for example.

Rents are being pushed ever higher meaning that people are stuck in a renting society, without their own property, and a generation is likely to be lost to housing ownership as a result of this. There has to be a movement towards considering rental towards mortgage acceptance. With rents at their current rate, people simply don't have the disposable income to save a deposit, so why not actually look at their proven ability to pay?

Why it was rejected

It asked for something that is not the responsibility of the UK Government or Parliament.

The Financial Conduct Authority has overall responsibility for mortgage lending practice. You can contact the FCA here:

https://www.fca.org.uk/contact

Timeline

20 Oct 2016	Petition opened for signatures
9 Nov 2016	Rejected by the Petitions Committee

Key facts

Signatures 17

Status Rejected

Rejected 9 Nov 2016

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