Leeds Building Society has become the first UK mortgage provider to partner with Experian and connect to the firm’s free Experian Boost service.

The move means the last 12 months’ of regular debit payments, such as council tax and subscriptions to digital entertainment services, can now contribute to credit scores and be factored into mortgage applications to Leeds.

Leeds suggested this can help aspiring homeowners to improve their chances of getting on the housing ladder thanks to extra evidence of a borrower’s good financial track record being factored into its mortgage checks.

The service uses open banking to link the borrower’s current account payments to their credit score which is then connected to the society’s lending systems. During testing, 7.5% of society applicants would have gained an improvement in their credit score by using Experian Boost.

Leeds has more than 800,000 customers and last year it helped 18,000 people onto the housing ladder for the first time. The building society, which last year stopped lending on residential second homes to focus on first-time buyers, lends up to 95% of the value of a home both for outright purchase and shared ownership mortgages, applications for which will also be eligible for boosted credit scores.

Chief executive at Leeds Building Society, Richard Fearon, said: “We’re proud to be the first mortgage lender in the UK to make it easier for aspiring homeowners by incorporating free, ‘boosted’ credit scores.

“This will particularly help younger borrowers, first time buyers and anyone on lower incomes who face the toughest challenge to prove their ability to repay. Often through no fault of their own, these groups can struggle to build a good credit score because they need to spend most of their earnings on rent and other regular payments. Indeed, the vast majority of existing Boost users are renters.

“It is no coincidence that a building society is the first to offer this service – we were the original homeownership pioneers and I’m delighted we’re maintaining that tradition.”

Manging director, consumer services at Experian, Sigga Sigurdardottir, added: “Our partnership with Leeds Building Society further supports Experian’s mission to improve financial inclusion for consumers.

“As many people across the UK face barriers to homeownership, we’re delighted that Boost users can now use their boosted scores to help them get on the ladder, making that dream of home ownership more accessible for people across the UK.”

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