Published: 30th Oct 2018

House rental payment history now appears on the Experian credit reports of more than 1.2 million tenants from across the UK. Previously, even if a tenant had paid rent on time for several years they could be refused a mortgage or another tenancy due to a credit score which didn’t take into account their rental history. A petition which called for paying rent to be used as proof people could afford a mortgage gathered nearly 150,000 signatures last year. Tenants can see their rental payments on Experian’s CreditExpert and statutory credit reports as part of the Rental Exchange initiative, developed in partnership with the Big Issue Invest, the social investment arm of The Big Issue Group. 79% of tenants would have seen a noticeable improvement in their credit score when lenders take rental data into account. Analysis also shows by adding rental data to credit reports, the proportion of tenants who can … (To read the full article, subscribe below)