Credit Ladder - Rental Exchange

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Credit Ladder - Rental Exchange

    Hello, have been sent this article by a T http://www.moneysavingexpert.com/mor...xchange-scheme

    Anyone any dealings?

    https://www.creditladder.co.uk is their website

    I can see it motivating the good tenants who are trying to buy (young prof, etc) but having no effect whatsoever on the lifelong renters.

    Any obvious downsides?

  • #2
    Ignore it, it is of no benefit to you ( or very little )

    It's up to tenants if they want to use it, not you.

    You will know via payslips, bank statements if a prospective tenant can afford your rent.

    Even highly paid tenants ( earning more than you do ) can miss ( be late ) on paying rent.
    But it all COSTS, and just one more thing to put up the rent.

    Comment


    • #3
      It's not available as a service to most landlords and is, consequently, pointless.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment


      • #4
        It is good for renters who want to improve their credit rating, I told my sister about it and it has made a great difference to her rating in less than a year. But I don't think it adds anything for a landlord... expect being nice and helpful to a tenant who wants to improve their credit rating!

        There are no obvious downsides to mentioning it to tenants, are there?

        Comment


        • #5
          This has nothing to do with landlords, really.

          If a tenant wants to pay to use a middleman for rent payments then it does not involve the landlord. But if the system has an issue and the landlord does not get the rent on time then it is also all on the tenant. That also means that landlords should probably think twice before suggesting this.

          Comment


          • #6
            I wouldn't accept payments this way. I want to know that my rents are coming from the tenants, not some third party.

            Comment


            • #7
              Would you be entitled to refuse rent payments in this way?

              Comment


              • #8
                Why would you? And no, it is something the tenant sets up... it is their money, their bill, they can pay it from wherever they like!

                It's not like Barclays and Experian are fly by night teensy little companies.

                I think some of you landlords are being a tad curmudgeonly here. It surely can't be fear of losing a tenant because paying your rent got them good enough credit to get amortgage... can it?

                Comment

                Latest Activity

                Collapse

                Working...
                X