Landlords body lobbies for rent payment histories to be included in credit files

Rent payments should be included when calculating credit scores to support tenants wanting to buy a home of their own.

The Residential Landlords Association is writing to the Government, calling on it to work with the industry to include rent payment history as a standard feature when calculating credit stores.

RLA chairman Alan Ward said: “With many tenants wanting to buy a house of their own, it is absurd rent payment is not routinely included when undertaking credit checks for mortgage applications.

“Moving to such a scheme would help not just tenants, but also landlords by giving them a clearer sense of whether a prospective tenant has historically paid their rent in full and on time.”

There is a scheme called the Rental Exchange, available from Experian via the Credit Ladder platform. The Rental Exchange incorporates a tenant’s payment history into their credit file.

Yesterday Sheraz Dar, CEO of Credit Ladder, said he agreed with the RLA’s campaign.

He said: “CreditLadder was set up to enable tenants to ensure their regular rent payments were added to their credit score, and we make it clear that if they fail to pay their rent this will be passed on to Experian as well. We’ve already processed rents in excess of £7.5m.”

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