Gen H adds Experian's Score Boost to credit decisioning

The partnership will factor evidence of a borrower’s good financial track record into mortgage checks.

Related topics:  Mortgages
Rozi Jones | Editor, Barcadia Media Limited
21st November 2023
Credit score report application paper
"We’re already seeing cases in our pipeline that will benefit from the boosted credit scores."
- Peter Dockar, chief commercial officer at Gen H

Gen H is now including Experian’s Score Boost data in its credit decisioning to help aspiring homeowners who are locked out of homeownership by credit scores that don’t meet a lender’s credit threshold.

Experian Boost takes into account recurring expenses like Netflix, Spotify or council tax as proof of responsible money management to help build users’ credit.

The change means more customers below the minimum credit threshold could be able to increase their score enough to buy a home.

Customers can sign up with Experian for free to proactively report their regular payments via open banking, and Score Boost won't adversely impact their credit score.

Peter Dockar, chief commercial officer at Gen H, said: “We are working to remove the blockers faced by aspiring homeowners in this country – from income constraints to deposit constraints and now credit constraints – because in this market, buyers need all the help they can get. For some aspiring homeowners, Score Boost could be the difference between finally climbing onto the ladder or not.

"We’re already seeing cases in our pipeline that will benefit from the boosted credit scores. Buyers are commonly told to ‘just cancel Netflix’ to afford a mortgage. We say, don’t cancel it – keep it, report it, and use it to boost your credit.”

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