1 September 2021
Moneyhub has launched a new feature that allows rent payments to show up on credit scores, helping renters who want to buy a home.
The payments app says its ‘rent recognition’ software allows renters to “demonstrate they can be trusted to meet financial commitments on time and can help to improve the credit score of young people or anyone with a patchy or non-existent credit history”.
The fintech says its tool lets users send anonymized details of rent payments to credit reference agencies such as Experian, offering alternative credit data which can build credit scores.
Read more here: https://www.mortgagestrategy.co.uk/news/moneyhub-launches-rent-payments-feature-to-boost-credit-scores/
