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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