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A credit reference agency (CRA) is a company that collects information about how people manage credit, holds it on file, and supplies it to lenders when someone applies for borrowing. The UK has three main agencies: Experian, Equifax and TransUnion. They don’t lend money themselves, and they don’t decide whether you get a mortgage; they simply hold the record that lenders check before making their own decision.
Understanding what a CRA actually does, and doesn’t do, helps make sense of why your credit file matters so much to a remortgage application.
What a credit reference agency actually holds
A CRA’s file on you typically includes:
- Current and past credit accounts, and whether payments were made on time
- Missed or late payments, defaults, CCJs, and insolvency such as an IVA or bankruptcy
- How much of your available credit you’re using
- Your address history and whether you’re on the electoral register
- A record of hard searches from previous credit applications
This information comes from lenders and other organisations that report to the agency, such as banks, credit card providers and some utility companies, rather than from the agency going out and gathering it independently.
The three main UK agencies
| Agency | What it does |
|---|---|
| Experian | Holds its own version of your credit history and produces its own score and report |
| Equifax | Holds its own version of your credit history and produces its own score and report |
| TransUnion | Holds its own version of your credit history and produces its own score and report |
Because not every organisation reports to every agency, and each one calculates its own score using its own method, your file, and any score attached to it, can differ between the three. A lender that checks Experian might see something slightly different to one that checks Equifax for the same application.
What a credit reference agency doesn’t do
It’s worth being clear about the limits of a CRA’s role, since this is often misunderstood:
- It doesn’t decide whether you get a mortgage. That decision, and the criteria behind it, belongs entirely to the lender.
- It doesn’t set your “score” for a lender’s purposes. Consumer-facing scores shown in apps are built by the agency for general use, not the specific model a mortgage lender applies to your report.
- It doesn’t chase debts or contact you about payments. That’s the role of the original lender or a debt collector, not the agency holding the record.
- It can’t remove accurate, correctly dated information early, even at your request, since its role is to hold an accurate record, not to decide what should or shouldn’t be visible.
How your file reaches a lender
When you apply for credit, including a mortgage or remortgage, the lender requests your report from one or more agencies (usually with your consent as part of the application). It then applies its own scoring model and lending criteria to what it receives. This is a hard search, and it’s visible to other lenders. Checking your own file, or using an eligibility checker, is a soft search, and it isn’t visible to anyone else.
Getting your own report, and correcting mistakes
Everyone in the UK is entitled to a statutory credit report free from each of the three main agencies. Because coverage can differ between them, checking all three, rather than relying on just one app, gives a fuller picture of what a lender might see.
If you spot something wrong, such as an account you don’t recognise, an out-of-date address, or a debt shown as unpaid that you’ve actually settled, you can raise a dispute directly with the relevant agency, which must investigate. You can also ask for a notice of correction to be added to your file to explain the circumstances behind a genuine entry, which our guide on correcting errors on your credit file covers in more detail.
Financial associations and joint accounts
If you’ve held a joint account, mortgage, or other credit with someone else, the agencies can record a financial association between your files. This can mean their credit history has some bearing on how your own file is read, and vice versa, even after the joint account itself has closed. Our guide on what a financial association is explains how this works and how to remove one that no longer applies.
Are credit reference agencies regulated?
Yes. Credit reference agencies in the UK are regulated by the Financial Conduct Authority for their credit-related activities, and data protection matters, including how long information can be held, fall under the Information Commissioner’s Office (ICO). Court judgments themselves are held separately on the Register of Judgments, Orders and Fines, which agencies also draw on for CCJ information.
What this means if you’re remortgaging with adverse credit
Because lenders vary in which agency, or agencies, they check, and because your file can genuinely differ between them, it’s worth reviewing all three before you apply for a remortgage, rather than assuming one report tells the whole story. This matters most if you have something specific on file, such as a CCJ, a default, or missed payments, since the exact date and status recorded is usually what a lender or adviser will want to see, not just a general score.
Our page on remortgaging with a low credit score covers how lenders weigh what’s actually on your file, and a specialist adviser can help you understand how different lenders are likely to view your particular circumstances. If you’re dealing with wider financial difficulty rather than a one-off issue, free and impartial help is available from MoneyHelper, StepChange and National Debtline.
Frequently asked questions
How many credit reference agencies are there in the UK?
There are three main ones: Experian, Equifax and TransUnion. Some smaller agencies exist for specific purposes, but these three are the ones mortgage lenders and most other lenders typically check when you apply for credit.
Do all three agencies hold the same information about me?
Not necessarily. Not every lender or provider reports to every agency, so your file can differ slightly between them. This is why it's worth checking all three rather than assuming one gives you the full picture.
Can a credit reference agency refuse me credit?
No. Agencies don't make lending decisions. They collect and hold information, then supply it to lenders when asked. The decision to lend, and on what terms, is made entirely by the lender applying its own criteria.
Is my statutory credit report really free?
Yes. Everyone is entitled to a statutory credit report free from each of the three main agencies. Some agencies also offer paid subscription products with extra features, but the basic statutory report itself does not require payment.