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Paying rent late will hit credit score.

11 November 2013:

RENTAL payments will appear on credit reports for the first time from the end of this year, the credit reference agency Experian revealed.

Tenants who pay rent late will get a black mark, hitting their chances of securing a mortgage or credit card.

Experian expects to include 600,000 rental records by year-end, starting with social housing and expanding to all private rentals. Lenders will have access to the information next year.

Missed payments will damage a credit score, but a history of regular on-time payments could improve it.


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