FCA could supply lenders with credit information

March 4, 2026 by Brendan O'Neill

Lenders

The Financial Conduct Authority (FCA) has put forward plans that would see it supply mortgage lenders with credit data from those looking to take out a loan.

What the FCA is arguing is that lenders are often forced to make decisions about borrowers based on incomplete credit information. At the moment, mortgage lenders get financial information about prospective borrowers from credit reference agencies, but it frequently fails to provide the full picture. The FCA has stated that it feels this disadvantages many borrowers, as it can make getting loans harder and can also lead to them being given mortgages they cannot repay.

Now this regulatory body for the financial services sector wants to enhance access to detailed information about the credit records of borrowers. It believes that both lenders and the public will benefit if the plans move forward.

Alison Walters is the consumer finance director for the FCA. Speaking to Mortgage Finance Gazette, she said that:

“Access to affordable credit relies on good-quality data – it’s vital in helping consumers navigate their financial lives. That’s why we want to make sure everyone’s credit information is as full and accurate as possible.”

The idea has been greeted enthusiastically by many within the sector. Richard Pinch from Broadstone said that it was a plan that made sense and would be a positive change. He added that solid data is what underpins smart lending decisions.

This is an assessment that most people with CeMAP mortgage advisor training would agree with. Lenders cannot make sound decisions about mortgage affordability based on incomplete financial information.