UK based actor and entrepreneur Celal Orhan has been renting in London since September 2017 but he has faced one of the biggest problems for many people renting in the UK – a non-existent or thin credit history.

As well as working in films and theatre, Celal is also launching a tech business.

But in order to get his ideas off the ground the 31-year-old needed the basics of business including a laptop and a mobile phone.

Both proved difficult to obtain because Celal, who was born in Ankara, Turkey, had little or no credit history in the UK and found it difficult to get a traditional bank account or the green light from lenders to buy a computer or get a mobile phone contract.

Digital solution

To help solve both issues, Celal has embraced technology and has signed up with both smartphone-based Starling Bank and rent recognition platform CreditLadder.

“I chose Starling Bank because I’m dyslexic and their mobile app makes it much easier for me to manage my day-to-day finances and see what I’m spending” he says.

“Also, I travel a lot outside the UK so I find spending money in Europe and elsewhere a lot cheaper when I use my Starling card.

“To improve my credit score I’m reporting my rent through CreditLadder. It’s an amazing service and means my rental payments now count towards my credit score.”

Celal is also hoping to have his three businesses up and running next year via an investment from a crowdfunding site, after which he’s hoping to secure a mortgage and get on the property ladder, which is another reason he’s reporting his rent through CreditLadder.

CreditLadder can help you improve your credit score

If you want to improve your credit position by reporting your rent payments, CreditLadder is the only way to improve your credit score and position across all four of the main Credit Reference Agencies in the UK, namely Experian, Equifax, TransUnion and Crediva. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money.

CreditLadder also runs a free mortgage application service in partnership with Tembo which will tell you how much you could borrow.

Remember the information provided in this article is for information purposes only and should not be considered as advice.