Rent and Credit > Major Update: Wollit Now Reports Rent to Equifax and Experian

Major Update: Wollit Now Reports Rent to Equifax and Experian

Wollit Team2 minute read · Updated 29th September 2025

How much rent did you pay last year? £5,000? £8,000? £12,000? More? Now imagine if every one of those payments had been building your credit at Equifax and Experian, the two largest credit agencies in the UK.

For most UK renters, this represents thousands of pounds in missed credit-building opportunities. Until now, your rent payments have simply helped your landlord's mortgage without contributing to your own financial progress.

Wollit's Game-Changing Equifax Partnership

Wollit has just launched a major partnership with Equifax, meaning subscribers' rent payments now appear directly on their Equifax and Experian credit files. This breakthrough transforms your largest monthly expense into a powerful credit-building tool.

Think about what this means for your financial future. The rent you're already paying could now be:

Immediate Benefits:

Building your credit history at multiple agencies
Increasing your chances of mortgage approval
Showing lenders you're financially responsible
Getting you closer to better interest rates

But right now, without rent reporting, your rent is just rent. It's helping your landlord whilst doing nothing for your credit score.

Why Rent Reporting Matters for UK Renters

The UK rental market has evolved significantly, with average rents reaching record highs across most regions. Despite paying substantial amounts monthly, renters traditionally receive no credit recognition for these payments.

This creates a disadvantage compared to homeowners, whose mortgage payments automatically contribute to credit history. Rent reporting services like Wollit’s level this playing field by ensuring your housing payments work for your financial future.

Credit reference agencies increasingly recognise rent data's value in assessing creditworthiness. Lenders use this information to understand your payment reliability and affordability, particularly crucial for first-time buyers transitioning from renting to homeownership.

How Rent Reporting Actually Works

Wollit’s Rent Reporting service collects your rental payment data directly from your open banking connection that’s reported to the credit reference agencies. The process typically updates monthly, demonstrating your payment history.

The reporting process differs from traditional credit products. While credit cards and loans appear as revolving or installment accounts, rent reporting typically shows as "alternative data" that demonstrates payment reliability without affecting credit utilisation ratios.

Real Results from Rent Reporting

The statistics speak for themselves: 77% of Wollit subscribers improve their credit scores. Many members gain access to financial products previously unavailable, including mortgages, personal loans, and premium credit cards with better terms.

Rent reporting proves particularly powerful for individuals with thin credit files, including young adults, recent graduates, and those rebuilding credit after financial difficulties. These consistent, substantial payments demonstrate financial responsibility effectively.

For renters preparing for homeownership, rent reporting provides crucial evidence of housing payment reliability. Mortgage lenders increasingly consider this data during affordability assessments, potentially improving approval chances and terms.

Transform Your Rent into Credit Building

Every month you delay represents another rent payment that could have built your credit but didn't. With UK rents continuing to rise, this missed opportunity becomes increasingly costly over time.

Wollit's credit-building ensures your rent finally works for your financial future rather than just covering accommodation costs. With Wollit's Equifax partnership, those monthly payments can finally build the strong credit profile you need for future financial success.