What is the Credex Score?
The Credex Score specifically scores the applicant to determine their suitability as a tenant.
There are 3 components to the score, these being: application, affordability and squat. These are all used to determine an overall Credex Score.
Additional information is required to perform the Silver and Gold Credex Score including the value of the rent, how many tenants there are, the applicant in question’s contribution towards the total rental, and the applicant’s salary.
Important considerations:
This score is based on the data available – the more credit bureau enquiries requested the better the predictability of the score. In other words the score is most predictable when TPN, TransUnion and Experian enquires are all requested.
The overall Credex Score is a wrap - up of application, affordability and squat components. The Basic Credex Score does not include the affordability and squat components and, as such, the applicant will never score in the excellent bucket due to the fact that the input data is actually limited.