How does it work?

  1. The Landlord signs up to the service with Clockwise Credit Union and agrees to some simple terms and conditions.
  1. Tenant agrees to open a Clockwise Rent Direct account and have all or part of their income paid into it. This may be wages, their Universal Credit payment or any other benefit income.
  1. The tenant instructs the benefit office or employer to deposit the money into their Rent Direct account where Clockwise safeguards the agreed rent amount and the makes the payment to the landlord on an agreed date.
  1. The landlord pays for the rent payment to be made which is deducted before each payment is sent. This is a fee of £5 per transaction per tenant
  1. Any remaining money from wages or universal credit not used for rent payment is transferred back to the tenant to an account of their choice on the same day that it is received by Clockwise.
  1. The landlord will receive one month’s notice if the payment is cancelled by the tenant.
  1. The landlord will be notified if there is insufficient funds available to pay the rent on the day it is due.

How to Apply

Email enquiries@clockwise.coop or telephone us on 0116 242 3900 for more information about Rent Direct.

Loans with values

8 reasons to choose a Clockwise loan over your bank

Great value loans

See how much you could save with our calculator

Phone Service

Balance & withdraws by phone 24/7