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Using the Credit Ladder when I am also a home owner
Radge70
Posts: 12 Forumite
Hi,
I’ve been doing a lot of research on finding ways to improve my credit record and I read an article on MSE about the Credit Ladder, which enables you to have your private rent payments recorded and added to your Experian file.
I rent my primary residence but I am also a home owner with a residential mortgage, which puts me in a rather unique position.
I am wondering whether joining the Credit Ladder will actually benefit me or will it confuse lenders? I’m also wondering what I should be putting when applying for credit and I am asked what my residential status is? I normally put “private tenant” but I’m actually a home owner too, albeit I spend most of my time living I the rented accommodation. Am I entitled to answer “home owner” to this question, which I am assuming most lenders would consider a bigger plus than if I were to answer “private tenant”?
I’ve been doing a lot of research on finding ways to improve my credit record and I read an article on MSE about the Credit Ladder, which enables you to have your private rent payments recorded and added to your Experian file.
I rent my primary residence but I am also a home owner with a residential mortgage, which puts me in a rather unique position.
I am wondering whether joining the Credit Ladder will actually benefit me or will it confuse lenders? I’m also wondering what I should be putting when applying for credit and I am asked what my residential status is? I normally put “private tenant” but I’m actually a home owner too, albeit I spend most of my time living I the rented accommodation. Am I entitled to answer “home owner” to this question, which I am assuming most lenders would consider a bigger plus than if I were to answer “private tenant”?
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