Help to improve your credit score

Updated: 7 January 2016 at 14:48pm

Sometimes social housing tenants find it difficult to access financial services such as affordable loans, bank accounts and credit cards. Often this is because not enough information is held on their credit file.

A credit file or score is a personal history of the credit an individual has had. Different organisations use this information to decide whether to give someone access to their services. Not having a credit score means that people often get worse rates and can end up paying more for things like electricity and loans.

We believe social tenants should get recognition for paying their rent, in the same way people who pay their mortgage do. So we’ve teamed up with Big Issue Invest and credit reference agency Experian to bring you the Rental Exchange, a new scheme to help improve your credit score.

We’re writing to all of our tenants to introduce the new scheme and to explain the benefits that we believe the Rental Exchange will bring. You don’t need to do anything. We will share your tenancy information with Experian, including your rent and service charge payment history.

This will help you to build a credit score. Being able to prove your identity and demonstrate a track record of paying your rent will open up new channels and services, giving fairer access to services including bank accounts, credit cards and online shopping

If you would prefer not to benefit from the scheme and wish to opt-out, please contact us by calling 0800 0285 700.

If you have any further questions about the scheme, or for further information, please contact us.