Rent Exchange

We are working with Experian and Big Issue Invest to help improve credit score 

We have prepared with Experian, the UK's biggest Credit Reference Agenct, along with Big Issue Invest, part of the well-known Big Issue Group of companies, to help tenants build a good credit history and improve their financial situation.  

Why have we decided to join the Rental Exchange Project?

Many social housing tenants are excluded from affordable credit and other services due to the lack of credit history. This means they are more likely to be refused credit or pay higher rates for it, putting extra pressure upon already challenging finances.This is different to home owners with a mortgage who will automatically develop a credit history.

How will the scheme benefit tenants?

By sharing your tenancy details and rent payment history it will help create an on-line proof of identity, proving you are who you say you are. Also developing a good credit profile can make it easier for you to open or change bank accounts, shop on-line, recieve better gas and electricity rates, or obtain cheaper credit.

We provided test information to Experian to see how our tenants might benefit from joining the scheme. Based on the sample we provided, 68% of tenants would improve their credit rating and the number of tenants with two or more proofs of on-line identity from 38% to 84%.

What if I do not want to be part of the scheme?

We hope that you will agree tjhat the scheme will benefit tenants, but if you do not want your information to be passed to Experian, please writie to you as soon as possible.

If you have already written to us asking to 'opt out' we should be now have confirmed that your data will not be included. However, please contact us if you have any further queries.

For further information about the Rental Exchange please click here or ask for a copy of the Rental Exchange leaflet. Alternatively if you have any specific questions about Rental Exchange or any other questions regarding your tenancy please contact us. For information on credit reports and scores please visit the experian website.

How will my information be used? 

It will only be made available to a company or organisation if your tenancy information is relevant and you have agreed to them doing a check against your credit file, or for one of the purposes listed below

Sharing information about your tenancy track record will enable Experian to assist other landlords and organisations to:

  • Assess and manage any new tenancy agreements you may enter into
  • Assess your financial standing to provide you with suitable products and services
  • Manage any accounts that you may already hold, for example reviewing suitable products or adjusting your current product in light of your current circumstances
  • Contact you in relation to any accounts you may have and recovering debts that you may owe
  • Verify your identity and address to help them make decisions about services they offer; and help prevent crime, fraud and money laundering 

Read more about how best to pay your rent or find out the latest information about the changes in Welfare Benefits. 

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