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NALS supports move for tenants to improve their credit score

Unique rental payment system helps private rented sector tenants improve their credit score

The National Approved Letting Scheme (NALS) is backing The Rental Exchange, a unique scheme that allows tenants to strengthen their credit history, simply by paying their rent.

Launched by global information services company Experian, The Rental Exchange records tenants’ rental payments in the same way mortgage payments are recorded.  By allowing their rental payment information to be submitted to Experian via their letting agent, renters can strengthen their credit histories and ease any difficulties accessing credit. 

NALS is working with the Rental Exchange, asking its agents to get behind the scheme, which is simple and free for agents to sign up to. Agents will be able to offer this service as an additional benefit to tenants. 

The scheme, which is already widely used in the social housing sector, is quickly gaining traction in the private rented sector. Agents can benefit from The Rental Exchange because tenants have an increased incentive to pay their rent, and on time. Additionally, by paying rent on time, tenants will be able to demonstrate to a prospective agent that they are a good and reliable tenant. Tenants with a history of little or no credit can build a stronger credit history and gain access to mainstream, cheaper credit.

Agents interested in the scheme can find out more from Experian at or the NALS website

Isobel Thomson, Chief Executive of NALS said: We believe this is a positive step, enabling those who rent privately to improve their credit score while they rent. NALS believe The Rental Exchange is another way to help make renting fairer, by putting tenants on an equal footing with homeowners, and also helping specific groups such as students build up a credit history. As tenants build their credit histories in this way, the tenant referencing process will also revolutionised in the years to come. It’s well worth agents getting involved with.”

Vicky McNab, Head of Rental Exchange, Experian, added:

“In the past, building a good credit rating has been easier for homeowners than for tenants, because monthly mortgage payments are factored in. What many people don’t realise is that a good credit score helps you to access mainstream financial services from bank accounts, credit cards, personal loans and mortgages, to mobile phone and utilities contracts. Now with The Rental Exchange, tenants in the private rented sector can pay their rent while building their credit history.”


**The Rental Exchange is currently only available to letting agents with 100 properties or more.

For media enquiries, please contact:

NALS: Ellie Irwin 07833 683281 

Experian: Ade O’Connor ade.o’ 0115 992 2645 / 07583 085 796

About NALS

The National Approved Letting Scheme (NALS) exists to make renting safer and fairer for tenants and landlords, and to promote professionalism in the private rented sector.

NALS is an independent licensing scheme for lettings and management agents. When people see the NALS name, they know that firm has agreed to meet defined standards of customer service, is part of a Client Money Protection Scheme and has a customer complaints procedure offering independent redress.

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