Landlords and letting agents will have access to information about potential tenants, while Experian says it will strengthen people's credit histories

Tenants will have information about their rent payments included in their credit file under an initiative launched by one of the UK's three credit reference agencies. Experian's Rental Exchange will allow landlords and letting agents to access information about potential tenants' rent repayment history. For those that keep up with their rent it could make it easier for them to access mortgages and other forms of credit at better rates. However, tenants who miss a rent payment will find that their credit score falls and it will become more difficult to borrow money. Paul Vescovi, UK and Ireland managing director of Experian credit services, said: "With several million people living in privately rented accommodation, a significant percentage of the population could be missing out on mainstream, low-cost credit because lenders do not currently have a comprehensive picture of their financial track record. "The Rental Exchange will strengthen people's credit histories, helping them to access a wider range of credit deals." Experian estimates it will take 12 months for it to sign up a significant number of lettings agents and landlords to the......Read more here: Experian to include rental payments in credit files