Nationwide Building Society is teaming up with rent reporting platform CreditLadder to help tenants investigate whether they can become homeowners.
The partnership taps into the UK's Open Banking initiative, with CreditLadder able to analyse the income and expenditure data of its users and overlay them against Nationwide's qualifying mortgage criteria.
Those who meet the criteria are then able to contact the building society to talk to a consultant and potentially apply for a mortgage. Those who do not qualify will continue to receive periodical checks to see if their circumstances have changed.
Sheraz Dar, CEO, CreditLadder, says: "Working with Nationwide Building Society is a key plank in our plans to help those who dream of owning their own home to realise their aspirations."
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