Rental Exchange

Helping you build a better future - get the credit that you deserve for paying your rent on time.

The Rental Exchange gives you the credit you deserve for paying your rent on time. The Rental Exchange helps you to enhance your credit report, which could give you a better credit rating.

What is the Rental Exchange?

It can help tenants to build their credit report and ‘online’ proof of identity – increasingly important when applying for goods and services such as a utility supplier, a mobile ‘phone provider or when online shopping.

How will I benefit?

Most Council Tenants pay their rent on time or in advance which can be used to help build or increase your credit score. The scheme allows tenants, with little or no credit or a poor credit score, to improve their credit rating. Being able to prove your identity and show a track record of paying your rent will open up new channels and services. It’ll prove to companies that you’re a reliable potential customer by proving who you are and where you live.

The rental exchange you will create an online history of your rental payments. Having additional information on your credit file can make it quicker and easier to:

  • Open a new bank account
  • Get a new credit card
  • Have a loan application approved
  • Shop online
  • Arrange a better utilities tariff, or qualify to pay for gas/electricity via a non-prepay tariff
  • Receive better mobile phone rates
  • Apply for a mortgage

This is a data sharing scheme, designed to help you and the Council strengthen your credit report. The scheme allows the Council to share details about the rent you pay with Experian on a monthly basis by supplying data on your rent payments; this is then included in your credit report and can be seen by creditors whenever you apply for products or services requiring credit checks. This means you will be recognised for paying your rent on time in the same way that homeowners are with their mortgage payments, thereby improving your credit file and your ability to assess various credit facilities.

All tenants received notification with their rent change letter at the beginning of March 2020 and new tenants have been handed the privacy notice within their sign up pack. 

For more information please contact the Housing Rent Accounts Team via the My Winchester Tenancy app, email housingincome@winchester.gov.uk or telephone 01962 848 205. 

If you do not wish to share your rental information you can opt out of the scheme. Please send an email containing your name, address and tenancy reference number to optout@winchester.gov.uk and advise that you wish to opt out.