Tenant creditworthiness platform CreditLadder passes 1,000-branch mark

  Rental payment recognition platform CreditLadder says it now has over 1,000 letting agent branches who have tenants on the service, making it the most widely available in the UK’s rapidly growing market for creditworthiness improvement, it claims. Started up in 2016 and based in London, until recently CreditLadder was alone in the private rented sector but it’s been joined by several competitors since after, in December 2017, HM Treasury announced a £2 million Rent Recognition Challenge to help kickstart innovation within the creditworthiness sector. These include Bud, Canopy, MoveMe and RentalStep, all of which are now involved in a feisty battle for market share, and a slice of the £2 million government funding. As The Negotiator reported last month, Canopy recently signed a deal with the John Lewis Partnership to help its employees improve their credit scores. Rent default Many of these services, including CreditLadder, claim their service helps letting agents differentiate themselves in crowded rental markets, enables agents to offer landlords a ‘value add’ to their service, and that tenants using them are less likely to default on their rent. This helps agents and landlords attract more reliable renters, it is claimed. “We’ve always believed good behaviour should…