dad and his three daughters

How we're helping residents to improve their credit rating

Every adult in the UK has a credit history. This is used by credit agencies to calculate a credit score. 

This 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’re likely to get – plus, you're less likely to get refused credit. The reason for this is simple: a high credit score means that you're good at paying your bills on time and paying back loans.

Credit agencies work out your score by tracking your payments and borrowings and payments. If you're a social housing tenant, however, you may have a limited history, lowering your credit score.

That’s where the rental exchange comes in. We’ll be sharing Peabody resident's rent history with Experian to help them build their credit rating and gain a more accurate score. Former Family Mosaic residents have already been part of the rental exchange for a few years.

What do residents need to do?

If you're happy with us sharing your rent history with Experian, then you don’t have to do anything. If you’re not, you can opt out by emailing or calling us.