Treasury keen to include rental payment on credit reports

Mortgage Jenga

I have just read an article saying that the treasury is keen to include rental payment on credit scoring websites like Experian, Call Credit and Equifax.

The article goes on to say that minsters are discussing this issue and are keen to put through a motion for good tenets to increase their credit profile and possible be home owners in the future.

Read here if you are interested in the article

Treasury keen to include rental payments on UK credit profiles

In my option I think this is a great idea not only for people who rent now and are thinking of buying a home but also for landlords as they can now obtain a future tenets credit history and see if they would be worthwhile renting too.

The only people left out are those who are not paying their rent in a timely manner but to be honest who wants to lend money or rent to people who do not pay their comments on time?

This is a good move if the people reporting to the credit agency are accurate with all paid rents. Failure to report accurately could mean a lot of hassle for those good paying tenets who are looking for the first mortgage and are held back because of a landlords mistake.

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