Rental Payments Included in Credit Score

Experian, a leading credit rating agency, will now recognise tenants rental payments when credit scoring.

CreditLadder, Bud and RentalStep won a share of a £2m prize fund, offering a way for tenants to record and share rental payment data via an app.

Most mortgage lenders are unable to take into account rental payments history when considering a mortgage application. The above three tech companies have found a solution and have been given the investment and support to help tenants get on the property ladder.

It is estimated that over 1 million tenants will benefit from having a good rental payment history included in their credit score, which will help them with any other credit or future mortgage applications.