Rejected petition Cap "help to buy" at 23% of the original purchase price, so people aren't forced to sell their homes

House pricing rose 11.6% from January 2017 to January 2020. From January 2020 to 2021 house pricing increased 11%. From January 2021 to September 2021 it increased an additional 11% (ONS Data).

The scheme is 'help to buy', yet is now punishing people who needed it. They are forced to either sell or take out larger mortgages than would have been expected and for an increased period of time. Surely the government can reduce their profit to help the people it's meant to support.

More details

If you bought a 250k house in January 2017 with a 20% 'help to buy' you would have borrowed £50k. Due to house prices increasing by 37.5% your house would be worth £343,755 and you would now owe £68,651.
That's £18,651 the government has profited in 5 years for helping. My proposal would give them a £7.5k profit.

Why was this petition rejected?

It did not collect enough signatures to be referred to the Petitions Committee.

Petitions need to receive at least 250 signatures before they can be considered in the Senedd.

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Date submitted 9 March 2022
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