CreditLadder, TransUnion partner for renting reporting scheme

Monday 28 February 2022 12:51 CET | News

Rent-reporting platform CreditLadder has partnered with TransUnion to offer renters the chance to boost their credit rating by reporting their rental payments, according to AltFi.

CreditLadder said the service means that the credit rating agency will have a more holistic view of an individual's financial standing and creditworthiness. It said that anyone can sign up to the service by providing details of their bank account, rent amount, and tenancy details, with CreditLadder capturing and tracking rental payments via Open Banking.

Mortgage payments are already visible within credit information but rental payments are not. TransUnion says by striking the deal with CreditLadder, lenders will be able to make more informed assessments about affordability.

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Keywords: partnership, TransUnion, credit scoring, Open Banking
Categories: Banking & Fintech
Companies: CreditLadder, TransUnion
Countries: United Kingdom
This article is part of category

Banking & Fintech




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