0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

Equifax to include rent payment data in credit assessments

Equifax has partnered with CreditLadder.co.uk to include rental payment data in its credit assessments for the first time.

Share on LinkedInShare on TwittereCard

CreditLadder is the UK’s largest rent reporting platform. The collaboration will mean that people who pay their rent on time will have access to credit at fairer rates.


Some three in 10 Brits currently rent their homes, but tenants typically have “thin” credit files due to a limited borrowing history. This is compared to homeowners, whose mortgage payments have historically been included in the credit files.


Renters are therefore expected to see a strong benefit from the addition of on-time rental payments in their credit files.


Equifax clients will benefit from rental data’s inclusion in their existing data services, giving them access to the new insights without the need for system changes.


Janice Rudd, data director at Equifax, said: “The inclusion of rental data in credit assessments is a huge lift to improve financial inclusion and fairer access to the right financial products. Renters who make full and timely monthly payments should see a significant benefit in proving their ability to repay a commitment, just like mortgage payers.”


Sheraz Dar, chief executive at CreditLadder, added: “CreditLadder’s mission is to deliver financial fairness to the UK’s millions of tenants, helping them access the credit they need, for example when they want to buy their own home. Working with Equifax to add tenants’ payment track records to their reports is a major enhancement for our users.”

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

FCA pushes for tailored support in new consumer credit guidance

FCA pushes for tailored support in new consumer credit guidance

FCA announces review of unsecured credit regulation 

FCA announces review of unsecured credit regulation 

FCA confirms next stage of support for mortgage borrowers 

FCA confirms next stage of support for mortgage borrowers 

Upcoming events


Credit Summit


Credit Awards


FSE Week

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group