Evlo has announced a new collaboration with CreditLadder, the UK’s first and largest rent reporting service, aimed at enabling tenants to strengthen their credit records by having their monthly rent reflected on their credit file.
The initiative forms part of Evlo’s Financial Freedom for Everyone campaign, which calls for a more equitable credit system that recognises the financial behaviour of renters.
Through this arrangement, Evlo will introduce its customers, particularly those with limited credit history, to a practical method of developing a fuller financial profile over time.
Asif Nadeem, Chief Transformation Officer at Evlo said: “At Evlo, our mission is financial inclusion, helping people move back towards mainstream finance. Rent is one of the biggest monthly payments many people make, yet it hasn’t consistently helped renters build their credit history. Partnering with CreditLadder is a practical step we can take right now to help change that, while we continue to lead the industry push for broader reform through Financial Freedom for Everyone.”
Sheraz Dar, Chief Executive Officer at CreditLadder said: “We’re delighted to partner with Evlo in our efforts to get every tenant in the UK reporting their rent payments and to help tenants use what is typically their biggest monthly expenditure to improve their credit position.”
