Bird’s bill to make rental payments part of tenants’ credit histories

first_imgHome » News » Bird’s bill to make rental payments part of tenants’ credit histories previous nextBird’s bill to make rental payments part of tenants’ credit historiesSecond reading takes place in Lords as fellow peers both congratulate Lord Bird on introducing the bill, but worry government will kick it into long grass.Nigel Lewis27th November 201701,065 Views Lord Bird speaking in the House of Lords.Big Issue founder Lord Bird’s Private Member’s Bill to compel lenders to take council tax and rental payments into account when making lending decisions has passed its second hurdle within the House of Lords.The Creditworthiness Assessment Bill will now proceed to the committee stage for further scrutiny, although the government has indicated it does not think adding additional regulatory burdens on lenders is a good idea.Lord Bird is seeking to compel financial regulator the FCA to force lenders to take both rental payments and council tax payment histories into account when calculating credit worthiness.Supported during the reading by several heavyweights, the Bill received considerable support following opening remarks by Lord Bird.During it he made an impassioned speech for the aims of the bill, which are to lower the costs and barriers to credit faced by many of the UK’s tenants and make tenants as ‘bankable’ as mortgage holders in lenders’ eyes.“The Creditworthiness Assessment Bill is an attempt to change the way the credit agencies look at this social morass, this social gap, this representation almost of a class line that is drawn between those who are in luck and those who are not in luck,” he said.Paid their rent“I am proposing that we change the legislation so that the credit service providers have to take into account the fact that people have paid their rent.”Other speakers during the rental payments debate congratulated Lord Bird on his bill and said they shared the motives behind it.This includes Baroness Thornton, who said “millions of people are excluded from affordable credit because they do not have a credit history”, along with Baroness Wilcox, Lord Davies of Oldham, who worried that the government would not implement the ideas contained within the bill.His worries proved correct. Minister of State Lord Gates then spoke, saying that although he agreed with the aims of the Bill, “given that mortgage lenders currently lack easy access to rent payment data, this approach would force them to go out and acquire it before making each new loan, which represents a significant logistical and technological challenge,” he said.“This would not be in keeping with our aim to make Britain the best place in the world to do business.”Lord Bird Lord Gates Baroness Thornton Baroness Wilcox credit scores creditworthiness Creditworthiness Assessment Bill November 27, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Better parental leave call

first_imgOtago Daily Times 28 May 2018Family First Comment: Echoing calls that we have been making….Better parental leave should be made a priority in New Zealand, because  support for children in their early years pays “massive dividends” when they grow up, an Otago academic says.Changes to  parental leave will take effect next month, after  the Government agreed last year to increase the leave to 26 weeks by 2020. Data made public last year revealed only 1% of people receiving parental leave in New Zealand were fathers, and recently experts urged the Government to provide more support to parents.Family law academic Prof Mark Henaghan said countries  where both partners could take leave at the same time found it led to societal advantages, such  as people displaying more respect and tolerance for one another.National MP Amy Adams unsuccessfully attempted to introduce a shared parental leave Bill into Parliament in November last year. Prof Henaghan said investment in a child’s early years paid “massive dividends” throughout the child’s later life.New Zealand could experience improvements in society as a whole if it provided better parental leave, as some countries, for instance in Scandinavia, did.“No country is perfect, but they do put a lot more support into the early years,” he said.Making changes to paternity leave so more men took it should be a “slightly higher priority” for the new Government, he said.READ MORE: read more