To: Credit Reference Agencies
Housing Rental Payments Should Reflect in a Tenants overall Credit Score
Tenants should have their regular rental payments count towards a more positive credit score in the same way as home-owners mortgage repayments reflect on their credit file.
Why is this important?
Hundreds of thousands of Tenants across the United Kingdom who pay their rent on time and without arrears are being indirectly discriminated against by the credit reference agencies who do not treat tenants rental payments the same as mortgage payments made by the landlords and those who own their own homes.
This means that Tenants who later would like to get onto the property ladder often find themselves with a much lower credit score than someone who has paid exactly the same in mortgage payments over the same period of time which puts them at a disadvantage when applying for credit with a bank or building society.
This means that Tenants who later would like to get onto the property ladder often find themselves with a much lower credit score than someone who has paid exactly the same in mortgage payments over the same period of time which puts them at a disadvantage when applying for credit with a bank or building society.
