What is the Rental Exchange Initiative?
We’ve teamed up with Big Issue Invest and Experian to support the Rental Exchange Initiative.
This scheme makes sure that customers who rent their homes are treated equally when it comes to applying for loans or buying goods and services.
By letting Stonewater share your rent payment information, you can get a better credit rating and access the best deals.
How does it work?
We will share your tenancy information with Experian, including your track record for paying your rent and service charges to us. We understand that in some circumstances there may be rent debt and where this is the case, we will work with you to address this.
Sharing customers' rental payment history will also help create an online proof of identity, proving you are who you say you are and that you live where you say you live. Proving this makes you a more reliable potential customer to companies.
What do I need to do?
You don’t need to do anything. Stonewater will share the necessary information with Experian for you.
Please contact us if you wish to discuss rent debt or any difficulties that you may have in paying your rent. If you do not wish to participate you can opt out.
Paying your rent on time will also help you to access cheaper products and services in the future.
Is it secure?
Both Stonewater and Experian will ensure that your information is treated in accordance with the Data Protection Act, so you can have peace of mind that it will be kept secure and confidential. It will only be made available to a company or organisation if the tenancy information is relevant and you have agreed to them doing a check against your credit file, or where it is strictly necessary for them to check information about your tenancy.
You will have been given information about the Rental Exchange Initiative when you signed up for your new home. If you no longer wish to take part, please contact us.