Who would have thought?
Image via PixabayIf you're thinking of taking a step on the property ladder, we've got good news for you!
Your Netflix and Spotify subscriptions may help you get a mortgage.
Who would of thought those endless hours of streaming Bridgerton and Drive to Survive would help with something so difficult to get.
If you've no idea what a credit score is or how to get one, don't worry!
Leeds Building Society has revealed a plan if you're hoping to buy a house which allows you to use your subscriptions.
It seems strange how spending money, especially in a cost of living crisis, can help when it comes to buying property.
Paying a subscription to websites like Netflix and Spotify could be used to prove an aspiring homeowner's financial track record is reliable.
It also shows you can pay back a mortgage at a steady rate.
Ladbible report, Leeds Building Society has announced it will now consider factors such as Netflix and Spotify subscriptions during mortgage meetings, looking at whether the applicant has 12 months of regular debit payments.
Even though the company is based in the UK hopefully this can rub off on the banks across the Irish Sea.
Chief executive at Leeds Building Society, Richard Fearon, explains "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."
Although, just because you hand over money to Spotify, Netflix, Amazon and whatever else every month, it doesn't mean the deal is sealed.
