Petition · past parliament
Make banks reduce affordability criteria for mortgages for first time buyers.
Closed
30 signatures
What the petition asks
Affordability criteria with banks is currently around 3-4 times salary with adjustments for expenses.
Even with Help-to-Buy, a person on the current living wage would have a £30,000 deficit on the 75% mortgage they would need to afford a £150,000 property.
Even with Help-to-Buy, a person on the current living wage would have a £30,000 deficit on the 75% mortgage they would need to afford a £150,000 property.
The current affordability criteria makes it impossible for a single person to afford their own home.
Banks are still making large profits, yet they seem unwilling to increase their risk in order help hardworking people afford their own place to live.
Using mortgage calculators for a required amount, buyers see amounts which they feel they could afford, yet the affordability criteria excludes them from applying.
This petition proposes banks meet the 75% regardless of salary for Help-to-Buy.
Banks are still making large profits, yet they seem unwilling to increase their risk in order help hardworking people afford their own place to live.
Using mortgage calculators for a required amount, buyers see amounts which they feel they could afford, yet the affordability criteria excludes them from applying.
This petition proposes banks meet the 75% regardless of salary for Help-to-Buy.
Timeline
| 1 Dec 2017 | Petition opened for signatures |
| 1 Jun 2018 | Closed to new signatures |
Key facts
Signatures
30
Status
Closed
Opened
1 Dec 2017
Closed
1 Jun 2018
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Source: the official petition page. Last checked 15 Jul 2026.