These orders were made under the market investigations provisions of the Enterprise Act 2002. They require:
large lenders to share their customers’ data with at least 2 of the 3 main credit reference agencies (Experian, CallCredit and Equifax)
all lenders to record details of all but their smallest loan products on www.lenderscompared.org.uk and advertise the site on their paying-in books
all lenders to offer better early repayment terms and annual statements to their customers
The orders also enable credit union loans to appear on www.lenderscompared.org.uk.
Guidance explaining the rights and obligations created by the home credit lending orders is also available. The guidance is aimed at lenders, but consumers may also find it useful.