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MPs debating plans to include rent payments in credit scores

Sally Walmsley
Written by Sally Walmsley

MPs will today debate whether rent payments should be included when calculating credit scores to support tenants wanting to buy a home of their own.

The RLA has called for these proposals to be introduced after a survey of almost 3,000 landlords found that 61 per cent would support such a move.

At present, credit rating agencies do not routinely include rent payment history when calculating credit scores. This means a tenant can find it difficult to access a mortgage, even if they have a long history of rent being paid in full and on time.

The debate is being held today at Westminster Hall after an online petition demanding that a history of punctual rent payments should be recognised as evidence that mortgage repayments can be met attracted almost 150,000 signatures

The RLA believes including rent payment in this way would also support landlords, providing them with a more accurate assessment of a prospective tenant’s credit and rent payment history – and has written to the government proposing this.

RLA Chairman, Alan Ward, said at the time: “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.”

The debate can be watched live on Parliament TV at 4.30pm today.

About the author

Sally Walmsley

Sally Walmsley

Sally Walmsley is the Magazine and Digital Editor for the NRLA. With 20 years’ experience writing for regional and national newspapers and magazines she is responsible for editing our members' magazine 'Property', producing our articles for our news site, the weekly and monthly bulletins and editorial content for our media partners.

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