New program helps Ontarians integrate past rental payments into their credit score

Borrowell's new initiative in Ontario allows renters to include past rental payments in their credit scores, aiding in homeownership. The program aims to help Canadians build credit earlier in life, especially immigrants looking to apply for mortgages. Borrowell's CEO states the program recognizes responsible financial behavior and aims to make the credit system fairer for renters. The process is said to be simple, with Borrowell reviewing payment information and relaying it to Equifax Canada to potentially improve a client's credit score.