What did the budget mean for renters, you may be wondering. The straight answer to this question is ‘not much’.

The government had been expected to focus on the ‘broken’ housing market and in particular the private rental market, but in the full 102-page Budget statement published by Philip Hammond, renting is only mentioned twice.

If you are a tenant hoping to get onto the property ladder, then the Chancellor had a few rabbits up his sleeve although only one – an extension to a Help to Buy Equity scheme – is likely to move the dials much.

In the budget Hammond also decided that first time buyers who purchase a home through a shared ownership scheme will not have to pay Stamp Duty on the whole property’s value, only the portion they have bought a ‘share’ of.

It’s a minor adjustment to the government’s rules that abolished Stamp Duty for most first time buyers during the last budget. Nevertheless it will help several thousand buyers when the modified scheme begins in three years’ time.

And best of all, the measure is to be retrospectively applied so any first-timers who have bought a shared ownership property over the past year and who paid the extra Stamp Duty will be able to claim the money back.

But the government clearly thinks renters have been given enough help for the time being.

For example, from May onwards next year tenants will no longer have to pay any fees when moving into a property (other than a refundable holding fee), reducing the cost of moving for millions of renters every year by between £250 and £350 on average per move, according to Citizens Advice.

Security deposits are soon to be capped at six weeks’ rent and compulsory three-year long minimum contracts for tenants are expected soon in a bid to give tenants more security.

Politicians outside government are doing their bit as well. Lord Bird’s Creditworthiness Bill, which is a privately-sponsored piece of legislation designed to force lenders to consider rental payments when making lending decisions, is also due to become law next year.

Looking at these initiatives from a government perspective, the more generous hearted might say enough is indeed enough for the moment.

But for the less forgiving, the UK's increasingly high rents and many people's difficulties getting on the property ladder should have been tackled harder in the budget by 'spreadsheet Phil' as the Chancellor is sometimes unkindly called. In the meantime, signing up to CreditLadder to get your rent recognised is a good first step.

Remember, CreditLadder can help you improve your credit score.

CreditLadder can improve your credit position by reporting your rent payments. CreditLadder is the first way to improve your credit score and position across all three of the main Credit Reference Agencies in the UK, namely Experian, Equifax and TransUnion. 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 content provided in this article is for information purposes only and should not be considered as advice.