Renters should be able to use their history of payments as proof that they can afford a mortgage, a think tank has argued.
The recommendation is one of several made by Policy Exchange that it says should be adopted by the government if it is serious about helping people to get on the housing ladder.
Those who have shown that they can keep up with monthly rent repayments should also be allowed to take out 100% loan-to-value mortgages, it said. In deprived areas, renters wanting to buy should be able to access 110% mortgages, “where the extra 10% can help renovate the property”.
