Homeppl says it hopes to challenge what it calls the UK’s “unfair” and outdated tenant referencing system. Currently, one in three are unable to rent certain properties due to issues surrounding the checks.
This affects about five million in the UK who would make good tenants but are unable to meet sometimes archaic requirements. Those affected tend to have little credit history in Britain, including a high number of international students and self-employed people.
Homeppl uses open banking, behavioural analysis and fraud detection tests to measure whether tenants can afford to pay, not just their income.
Source: Evening Standard Business News