Tenants can now submit their rental payment information to Experian to help strengthen their credit histories and prove affordability when applying for a mortgage.
Tenants can now submit their rental payment information to Experian to help strengthen their credit histories and prove affordability when applying for a mortgage.
The new tool, called the Rental Exchange, means people aiming to buy can build a stronger credit history to help them get a more competitive mortgage rate.
Experian’s Jonathan Westley said: “The greatest appetite for including rental payment data on credit reports is among people who are looking to buy in the next five years.
“Nine out of 10 people in this group, which includes many couples without dependent children, recognise the importance of a good credit report and 83% would like to see rental payment data added to it.”
