Bid to improve credit ratings.
A MOVE to improve the credit rating of millions of people who rent houses will come a step nearer when a Bill is introduced in the House of Commons.
The Creditworthiness Bill has already been supported in the Lords after being drawn up by Lord John Bird, founder of the Big Issue magazine.
Conservative MP Justine Greening is taking the Bill forward in the Commons, with a second reading scheduled for October 26.
Lord Bird said Britain's 14.8 million renters are being discriminated against when it comes to access to credit as rent payments are not recorded or recognised in the same way as mortgage payments.
This means that some of the poorest are paying the most for credit services, insurance, white goods, utilities and mobile phones, he said.
The Bill aims to change this by requiring credit service providers to take rental and council tax payment history data into account when assessing a borrower's creditworthiness.
Ms Greening said the Bill has cross-party support.
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|Publication:||Manchester Evening News (Manchester, United Kingdom)|
|Date:||Sep 13, 2018|
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