New app helps less young people get declined mortgages

A revolutionary new service to help renters build their credit score has been recently launched -with the average user set to increase the score by over 100 points in the first 3 months.

British renters spend on average £1175 a month on rent; however, these payments have not previously counted towards renter’s credit scores, vital in mortgage acceptance.

Recent calculations from the banking sectors how that the difference between a ‘good’ and ‘excellent’ credit score can mean over £45,000 added on to the cost of the average mortgage. Research shows that one in four people (25%) have been refused a mortgage because of poor credit history.

Aston spoke to Chris Hutchinson, CEO of Canopy.

Photo by Colin Watts on Unsplash