Rent Payments on Credit File?

Jana83

Hi

I seem to vaguely remember MSE mentioning that monthly rental payments will appear on / count towards your Credit File? I think I saw it on the website at the end of last year?

Can anyone confirm this and / or when this may come into effect? My BF have been renting since Sept 2011 and are looking to buy a house in the next 12 months.

We both have good Credit Files now but the rental payments would make his look even better.

Thanks in advance

GingerBob_3

Jana83 wrote: »

We both have good Credit Files now but the rental payments would make his look even better.

Provided the landlord has reported accurately.

Tixy

It will likely only be fairly sizeable lettings agents who would decide it was financially worthwhile for them to pay for experian's services to be able to record rental payments. Small agents and landlords are unlikely to use the service, at least in the short term.

Even those that do will then need written permission from their tenants to report such info which at a guess they will usually just wait for when people sign new tenancy agreements.

So I wouldn't put much store against this happening for your BF soon.

If BF already has a 'good' credit file what concerns do you have that you think it needs to be further improved? If there are issues perhaps people could suggest alternative things he could do.