Adding rent payments to credit file

scouse05

Hi, 

I’m a bit confused at the moment. I want to apply for a mortgage and whilst I have paid off my biggest loan, leaving me in a decent place financially, my credit score keeps going down. 

I was wondering if adding my rent payments would increase my Credit score and if so what the best way of doing this is. 

Thanks in advance 😊

[Deleted User]

Clearing debts will invariably lower your score as it's a significant and positive change. But no one ever sees the score, so it doesn't matter.

Adding rent payments to your file adds very little for lenders, as you're expected to make rent payments on time in any case. If you do want to, you'll need to find a landlord who participates in one of the reporting schemes.

When you come to apply for a mortgage, check the data on all your files so you are clear in what appears on each. This is the data that lenders will be looking at, not the pretend scores.

[Deleted User]

You'd do better just doing the normal things - credit card, spend on it, pay off in full after the statement by direct debit; mobile phone contract (even SIM only) paid off monthly etc and give it a year while you save for your deposit.