The Creditworthiness Assessment Bill had its third reading, a chance to 'tidy up' the bill and make changes, in the Lords on Wednesday 18 July.
This is a private member's bill. A private member's bill is a type of public bill (that affects the public). Private members' bills must go through the same set of procedures as other public bills.
This bill would allow rental and council tax payment history to be taken into account when assessing an individual's creditworthiness, particularly when seeking a mortgage.
No changes were suggested to the bill ahead of third reading. The bill will now go to the House of Commons for its consideration.
Lords report stage: Monday 9 July
No changes were made to the bill at report stage.
Lords committee stage: Friday 11 May
Members discussed subjects including:
- a Financial Conduct Authority (FCA) review of the Act (if passed) and termination of the Act’s rules.
- an FCA review of how taking account of rental and council tax payments has affected borrowers’ creditworthiness.
Second reading: 24 November 2017
The Creditworthiness Assessment Bill had its second reading, the key debate on the draft law's purpose and principles, on 24 November 2017.