Comment on A conundrum

big_slap@lemmy.world ⁨3⁩ ⁨days⁩ ago

• otacon239@lemmy.world ⁨3⁩ ⁨days⁩ ago

  Well shoot. Why wasn’t this the case from the start? I’ve only ever had troubles with payments a few times in the 10 years I’ve been renting. Good thing none of that counts for anything and the clock is just now starting.

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  • onslaught545@lemmy.zip ⁨3⁩ ⁨days⁩ ago

    There used to be a service called Williams Paid that would act as a middle man to pay your rent, then report it on your credit.

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• NotSteve_@piefed.ca ⁨3⁩ ⁨days⁩ ago

  That seems to be for the US when OP is in the UK based on the £ use

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  • big_slap@lemmy.world ⁨3⁩ ⁨days⁩ ago

    true, whoops lol. sorry

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    • Mika@piefed.ca ⁨3⁩ ⁨days⁩ ago

      Yeah, and I think it's not about history, it's about mortgage initial payment, which is some% of target property cost.

      And the idea that it's bad thing is just stupid. Anyone read about previous housing bubble remembers how people took multiple mortgages because you could let your house for more than you pay for mortgage per month, and as crisis hit, they couldn't repay. It was very much enabled by zero mortgage initial payments.

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• lunarul@lemmy.world ⁨3⁩ ⁨days⁩ ago

  That’s just for the “paid on time” section of your report. I helps a bit with your score, but it doesn’t change how banks determine your debt to income ratio.

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• kibiz0r@midwest.social ⁨3⁩ ⁨days⁩ ago

  Yes, Experian (a company that has had multiple data breaches) is now allowing you to give them more of your personal data for free, and in return they will add your Netflix and Xfinity payments to your credit report.

  And then the banks that consider your loan will still do the same process they did before — i.e. not consider your Netflix and Xfinity payments.

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