Credit record boost for tenants
At last – it took for ever – but its happening!
Tenants everywhere – Darwen, Bolton, Blackburn… and all over the North West, who pay their rents on time, will soon get their good payment record recognised on their credit reports, just like those who pay mortgages do!
This follows the launch of the new Rental Exchange service by the Experian global information services company.
Rent payment records to be included
Experian – as most of us know – are the people, who handle information that gives us our credit rating, which impacts, of course, on whether we can get a home improvement loan, a mortgage to buy our first home or even credit for carpets or a new sofa.
Now the Experian company is planning a way to include a tenant’s payment history in credit reports. This new step by Experian will enable renters to not only get more and better priced credit deals, but will also help first time buyers with an established rental record to perhaps get a mortgage after all – and thus make a start on the house-buying ladder!
Renting – a lifestyle choice
Says Paul Ainsworth Lord of Darwen Lettings Agent, Ainsworth Lord Estates, “I’ve wondered why this hasn’t been the case for quite a long time as the number of people renting their homes in Darwen and all around the local area over recent years through these tough financial times has been well and truly on the increase.
To be fair renting here in the local Darwen area and indeed all over the North West Region in general has more and more become a lifestyle choice over the past 3-5 years. Sharing this good renting record data will also have major benefits for Landlords too..