Tenants to get credit history

A new scheme which up a tenants credit rating if they keep up to date on their rent is being introduced by credit referencing company EXPERIAN.

The scheme called the Rental Exchange could help to strengthen a tenants credit history in the same way that a good payment record for a mortgagee helps a homeowner gain credit.

This seems a positive development to me to incentivise tenants to pay their rent on time and gain a higher credit score which will help them obtain credit including a mortgage in the future.
Currently the Rental Exchange will only operate with a number of the larger corporate private landlords but if it could be widened to small private landlords it would be an excellent way of incentivising tenants to be prompt with their rental payments and bring down rental arrears.

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