RLA calls on the Government to include rent payment history as a standard feature when calculating credit scores.

August 17, 2017

The Residential Landlords Association (RLA) is calling for rent payments to be included when calculating credit scores to support tenants wanting to buy a home of their own.

In a recent survey the RLA found that over 60% of landlords out of almost 3000 asked would support such action.

The RLA 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 scores.

Including rent payment in this way would provide landlords  with a more accurate assessment of a prospective tenant’s credit and rent payment history.

Chairman of the RLA, 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.”

Read the news item from the RLA in full click here.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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