There are plenty of column inches dedicated to getting more Brits on the housing ladder, but what about the credit ladder, asks Jono Gillespie

The government has made it plain it wants to help more people onto the housing ladder, but it talks far less about the people who can’t even take the first step onto the credit ladder. The ones who simply can’t access affordable credit to fix their car or replace a broken washing machine.

Financial exclusion in the UK is growing, with 20.2m adults now categorised as financially underserved – a 50 per cent rise since 2016. One in three adults faces barriers to mainstream credit, often leaving them without safe or affordable options. The impact is widespread: 13m people couldn’t cover a £300 emergency without borrowing, and more than 3m have turned to illegal lenders in the past three years. It’s a clear signal that the UK needs more inclusive, responsible credit solutions.

In 2023, over 5.5m UK adults were “credit invisible”, meaning they have no real credit history. While they may well be able to repay a loan, they are deprived essential financial products as lenders and other providers don’t have the data they need to make decisions. 

My company, Evlo, has been a leader in the financial inclusion sector for nearly 20 years. As an independent........

© City A.M.