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Our rental data will enhance your lending decisions
With little or no credit history, millions of rental tenants have been excluded from mainstream financial services and affordable credit, or paid a premium for access. The Rental Exchange, which provides a route for rental payments to be incorporated into credit reports, is an important development to change this. Credit providers will now be able to use this information in the same way as they use mortgage payment data to obtain a better understanding of your customers.
By treating mortgage and rental payments equally, we can provide renters with greater access to mainstream finance – from bank accounts and credit cards to mobile phone contracts and utility services. Our analysis shows it would give 72 per cent of social housing tenants a credit ratings boost and provides evidence that most people are responsible consumers, even if they have been off the credit radar.
Benefits of having access to rental data
Inform responsible lending and affordability decisions
Get a true picture of existing commitments
Understand customer indebtedness