The group argues that the current system discriminates against renters by ignoring their biggest monthly outgoing — a gap that leaves many locked out of mortgages, loans, and other financial products despite a consistent track record of on-time payments.
A spokesperson for a finance firm says: “Every day, we meet people who’ve never missed a rent payment but are locked out of affordable credit.
“It’s a clear injustice that needs to be fixed. Increasing rental payment data sharing would give people a fairer shot at building their financial future and open the door to opportunities that are currently out of reach for millions. It’s a simple change that could have a transformative impact.”
Millions locked out of credit system as rent goes unrecognised and unlike mortgage payments which routinely boost credit scores, rent — often a larger and more reliable monthly outlay — remains invisible to credit reference agencies.
Campaigners warn this blind spot is fuelling financial exclusion. An estimated 20.2 million adults are now underserved by the credit system, up 50% since 2016. One in three cannot access mainstream credit, and over three million have resorted to illegal lenders in the past three years.
Sam Carling MP, a supporter of the industry campaign says: “My constituency has a high number of renters – especially young people – who are working hard to save for a first home.
“But many find that their rent, which often makes up a big chunk of their monthly income, isn’t recognised when they apply for mortgages or other types of credit. Thin credit files are stopping people who already manage rent payments from accessing the support they need to move forward. This is a simple, common-sense change that would make a real difference – helping people demonstrate their financial responsibility and, in many cases, take their first step onto the property ladder.”
As the Treasury reviews the half-century-old Consumer Credit Act and prepares to unveil the UK’s first National Financial Inclusion Strategy, campaigners say the moment is ripe to address a systemic blind spot.
The campaign group are calling on ministers to spearhead a coordinated national framework that mandates the secure and consistent sharing of rental payment data with credit reference agencies — a move they argue would unlock fairer access to financial services for millions of tenants.
This proposed framework would include, giving renters the right to opt in and have their rent payments reflected in their credit history — a move designed to reward financial responsibility.
It would also mean equipping landlords and letting agents with practical guidance and incentives to take part in rental data reporting schemes, ensuring consistent and secure participation across the sector.
The open letter was sent by financial industry campaigners to the government.