{"id":71202,"date":"2017-11-08T01:53:02","date_gmt":"2017-11-07T18:53:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/rent-should-count-towards-credit-ratings-letters\/"},"modified":"2017-11-08T02:05:16","modified_gmt":"2017-11-07T19:05:16","slug":"rent-should-count-towards-credit-ratings-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rent-should-count-towards-credit-ratings-letters\/","title":{"rendered":"Rent should count towards credit ratings | Letters"},"content":{"rendered":"


\nHow many people realise that their rental payment history could help them access more affordable credit, asks the Big Issue founder John BirdBrightHouse say they offer choice to those excluded from mainstream credit (At last, it\u2019s payback time for BrightHouse, 28 October). \u201cAs long as it\u2019s affordable and people are making an informed decision they should be allowed to choose how to spend their money.\u201d But there\u2019s a problem. BrightHouse isn\u2019t affordable. \u00a3600 laptops can total \u00a32,287. Cookers, \u00a31,133. TVs, over \u00a31,170. We\u2019re told the average rent-to-own customer is a young, single, renting mother reliant upon (at least some) benefits. I wonder how many of those \u201crent-to-owners\u201d realise the power of the data they\u2019re sitting on. How many realise that their rental payment history could help them access more affordable credit?None of them \u2013 unless they\u2019re part of the Big Issue \u201crental exchange\u201d scheme \u2013 because rent isn\u2019t recorded like mortgage payments. Renters can\u2019t use the best asset they have, their rent history, to help improve their credit score, get digitally authenticated and enter the marketplace. Whether it\u2019s credit for a mortgage or a mobile, your rent should count for something. BrightHouse will repay \u00a314.8m to 250,000 customers after the FCA found it hadn\u2019t been a \u201cresponsible lender\u201d. We need to go further. My creditworthiness assessment bill will ensure, via the clout of the FCA, that every lender takes rental history into account when assessing creditworthiness. Not to dish out problem debt. To make assessments fairer. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Rent should count towards credit ratings | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

How many people realise that their rental payment history could help them access more affordable...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-71202","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-iwq","jetpack-related-posts":[{"id":69912,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rent-to-own-retailer-brighthouse-ordered-to-repay-14-8m-to-customers\/","url_meta":{"origin":71202,"position":0},"title":"Rent-to-own retailer BrightHouse ordered to repay \u00a314.8m to customers","date":"October 24, 2017","format":false,"excerpt":"\r Financial Conduct Authority says company supplying household goods on high-cost credit has not been \u2018a responsible lender\u2019Britain\u2019s biggest rent-to-own retailer, BrightHouse, faces a \u00a314.8m bill to compensate nearly 250,000 customers as part of a clampdown on the sector by Britain\u2019s financial regulator.The Financial Conduct Authority has ordered the company\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28607,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brighthouse-admits-affordability-checks-are-hurting-business-model\/","url_meta":{"origin":71202,"position":1},"title":"BrightHouse admits affordability checks are hurting business model","date":"October 5, 2016","format":false,"excerpt":"\r Rent-to-own firm says more detailed checks on shoppers\u2019 finances in line with FCA standards are hitting its profitsThe rent-to-own firm BrightHouse has admitted that running more rigorous affordability checks on potential customers is hurting its business model.The controversial retailer, which lets shoppers pay for goods in weekly instalments with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70274,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/at-last-its-payback-time-for-brighthouse\/","url_meta":{"origin":71202,"position":2},"title":"At last, it\u2019s payback time for BrightHouse","date":"October 28, 2017","format":false,"excerpt":"\r A \u00a3600 computer can cost \u00a32,000. But now the rent-to-own retailer has to repay \u00a314.8m to customersFor hard-pressed families wanting household goods, the monthly payments at electricals store BrightHouse can be tempting. But extraordinary interest payments can mean a \u00a3600 computer at Currys costs more than \u00a32,000 at BrightHouse,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/watchdog-planning-price-cap-on-rent-to-own-credit-terms\/","url_meta":{"origin":71202,"position":3},"title":"Watchdog planning price cap on rent-to-own credit terms","date":"May 31, 2018","format":false,"excerpt":"\r FCA\u2019s proposal for firms such as BrightHouse aims to save consumers more than \u00a3200m a yearThe City watchdog is planning a price cap for rent-to-own retailers as part of a crackdown on high-cost credit and overdrafts to save consumers more than \u00a3200m a year. Although stopping short of capping\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62864,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/socially-responsible-retailers-aim-to-end-the-rent-to-own-rip-off\/","url_meta":{"origin":71202,"position":4},"title":"Socially responsible retailers aim to end the \u2018rent-to-own\u2019 rip-off","date":"August 5, 2017","format":false,"excerpt":"\r Fair for You is among the new breed of companies that are taking on pay-weekly retailers who target low-income familiesHow can the store chain BrightHouse get away with charging someone up to \u00a31,560 for a washing machine when the exact same model can be bought elsewhere for \u00a3599?Perhaps it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42945,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brighthouse\/","url_meta":{"origin":71202,"position":5},"title":"BrightHouse","date":"February 5, 2017","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...BrightHouse","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71202"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=71202"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71202\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}