Renter Score

Renter Score is for people who aspire to own their own property but have poor credit. Our online platform tracks rental payment history which generates a score that our selected lenders will use to offer mortgages or properties for letting. Unlike alternative lenders we are the only ones that use your rent and algorithm to determine affordability. Because of our work thousands of renters will rightfully be able to own properties bringing in over 50 billion pounds of wealth to the economy. Renters score works just like your credit score. However, the aim of Renters score is to allow renters to build up a credit report which will help them to purchase their first home. “Have you ever heard the phrase/question, I can afford to pay my rent, so why I cannot get a mortgage?” This is significantly true. Renters are able to afford properties with an average of £2100/month in the UK but are not able to get a mortgage, which usually on average will cost them £800/month on repayments. Every adult in the UK has a credit history. This is used by credit agencies to calculate a credit score. Renters Score will do the same thing but by only tracking payments towards rent. Credit score is important when it comes to being granted good deals on financial services such as mortgages, credit cards and loans. The higher your credit score, the better the deal you are likely to get. The reason for this is simple: a high credit score means that you are good at paying your bills on time and paying back loans. Renters score will mimic the same approach as the credit agencies, working alongside landlords, estate agencies, councils, Banks, mortgage Brokerage and government. Renters Score will solve the problem of individuals with low credit rating to get approved for mortgages by using their history of rent payments to check that they are able to afford monthly mortgage repayments. The higher the score the better their renters rating will be.