Rent payments on credit report
Helen72
Posts: 2 Newbie
Hi all,
I owned a flat which I rented out as I moved for work. I was therefore paying both rent for myself and mortgage on the flat (which was covered by the rent I achieved) for around 5 years. I have now sold the flat (March 2017) but am still renting for myself.
Having a mortgage was beneficial for my credit report, but I'm wondering now how long before my rent history also counts? I have never missed a rental payment. I haven't seen my full credit report recently as I don't want to pay (!) but have noticed that my score has dropped. I will check my report fully as I would like to get another mortgage in the next year or so.
Many thanks for any advice! :j
I owned a flat which I rented out as I moved for work. I was therefore paying both rent for myself and mortgage on the flat (which was covered by the rent I achieved) for around 5 years. I have now sold the flat (March 2017) but am still renting for myself.
Having a mortgage was beneficial for my credit report, but I'm wondering now how long before my rent history also counts? I have never missed a rental payment. I haven't seen my full credit report recently as I don't want to pay (!) but have noticed that my score has dropped. I will check my report fully as I would like to get another mortgage in the next year or so.
Many thanks for any advice! :j
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Comments
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Does your landlord report your rent payments to the CRAS? It would be unlikely.
Remember to ignore your credit score.0 -
You can view all three of your credit reports for free at MSE Credit Club (Experian), Noddle (Callcredit) and Clearscore (Equifax).
It's quite rare for landlords to report to the credit reference agencies.0 -
As above, your score is meaningless. And it tends to drop whenever there's any change in your credit status, good or bad. So having ( presumably ) got rid of your mortgage, that'll be the reason your score has dropped. Despite the fact that you are now in substantially less debt. Proof, if any were needed, that the score is little more than bovine excrement.
Don't worry about it, it will have no impact whatsoever on your ability to get another mortgage.0 -
Credit Ladder is the scheme where your rent payments can be reported to your Experian credit file. https://www.creditladder.co.uk0
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Many thanks to all.
I do try to ignore the actual score, but I got worried when it fell from almost top marks to 'good'. I can't use the MSE Experian link for some reason, I always get bumped out.0 -
If you are really worried about this you could always sign up for one of the free trials and then cancel as soon as you have seen what you want to see. I have done this and never been charged. At least then you would know one way or the other if your landlord has been reporting your rent payments or not although, as others have said, it would be unusual if he had.Many thanks to all.
I do try to ignore the actual score, but I got worried when it fell from almost top marks to 'good'. I can't use the MSE Experian link for some reason, I always get bumped out.
There are so many possible reasons for this drop in your credit score but unless you know you have made a late payment or something like that, ignore it. Perhaps worth making sure all your credit accounts are at the same address and you are on the electoral roll at that address. With selling the flat and renting involved, perhaps address or electoral roll history is unclear?0
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