Millions of social housing tenants in the UK find it difficult to get the best deals on goods and services or to access affordable credit. One major cause of this is there is very little information about a tenant’s financial history or circumstances held on their ‘credit report’ – making it hard for tenants to prove their identity or reliability as a payer and access benefits and services that most people have come to regard as ‘the norm’.
Big Issue Invest has partnered with Experian to tackle the financial, digital and social exclusion challenges faced by social housing tenants in the UK. We are working with social housing landlords to collect up-to-date rental payment information on tenants living in social housing so as to enable them to build a credit score through Experian’s Rental Exchange.
The proof of concept on this project found that this could benefit over 1.5 million low-income tenants. See The impact of social housing rent-payment data on credit scoring (Dec 2010, Sarah Forster and George Wilkinson). We are looking for more social housing landlords to join this important social initiative.
Click here to find out more or contact Sarah Forster, Director of Development at email@example.com