The Rental
Exchange scheme

Get recognised for paying your rent on time.

Quick Links:

1. Money Advice Service
2. Experian Rental Exchange website

Your financial history affects your credit score; this is used by banks and lenders to determine how likely you are to pay your bills on time. Your credit score can affect things like taking out an affordable loan, opening a bank account or accessing better utility tariffs for energy bills.

We believe that social housing tenants should get recognition for paying their rent, the same way that mortgage-payers do. So we’ve teamed up with Big Issue Invest and credit reference agency Experian to help you build your credit score through the Rental Exchange scheme.

What is a credit score?

A credit score, or credit rating, is a three-digit number that reflects how reliable you are when it comes to repaying money. It’s based on:

• how you’ve handled money in the past, for example how often you apply for credit
• how much you owe, and
• whether you make payments on time.

You’ll lose points for late payments, and gain points for a good track record of paying on time and being on the electoral roll.

The higher your credit score, the better your chances of being accepted for credit, and at the best rates.

How does the Rental Exchange scheme work?

• We’ll share your rental payments with Experian, a credit reporting agency (CRA). 
• This will give you online proof of identity, improving your credit score. 
• If you pay your rent on time each month, your credit score will also improve. 

Improving your credit score can make it quicker and easier to apply for credit. 

What do I need to do?

You don’t need to do anything. We will automatically enrol you in the scheme, unless you tell us not to. You can find out more about the scheme on the Experian Rental Exchange website.

We, and Experian will make sure that your information is treated in accordance with the Data Protection Act. You can have peace of mind that it will be kept secure and confidential and your information will not be used for marketing purposes.

More information

For independent and impartial advice about improving your credit history: www.moneyadviceservice.org.uk. 

Check your credit score: www.experian.co.uk/consumer/experian-credit-score.html 

If you would like to opt out of this initiative, or if you have a question that you would still like answered, please email [email protected]