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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.

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.”

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