Mortgage providers use private rental payments for mortgage applications.

Rejected 10 signatures

What the petition asks

Make banks and mortgage providers take into account rental payments as proof of affordability. The system is outdated and need to be revised.

I propose a change in the way mortgages are approved by banks and lenders. Many applicants are refused mortgages based on affordability checks, credit score, yearly income etc. Having a proven track record of payments while renting clearly shows it is affordable. Many mortgage repayments are lower than rental costs allowing money to be saved for maintenance, repairs or renovations

Why it was rejected

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

We can't accept your petition because the UK Government and Parliament aren't responsible for the issue you raise. This is a decision for lenders.

Timeline

24 Jun 2022	Petition opened for signatures
30 Jun 2022	Rejected by the Petitions Committee

Key facts

Signatures 10

Status Rejected

Rejected 30 Jun 2022

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