Are you making affordability decisions based on old data? Hundreds of UK credit providers make lending decisions using data from the Office for National Statistics’ (ONS) Living Costs and Food Survey. The survey’s a trusted source of household data to understand applicants' disposable income. The problem? It was last updated in March 2020 and many lenders are still using data from older reports.

Functionality that delivers your goals

Ensure you’re using the very latest picture on your customer’s income by updating your ONS base data with Experian ONS+. This boosted dataset accounts for the unprecedented and devastating factors that have hit the economy over the past two years for the most accurate evaluation of potential new customers. By combining ONS Living Costs and Food Survey data with more recent ONS GDP and inflation data, and applying our exclusive economic model, we can bring critical LC&FS data points up to date, giving you a clearer picture of your customers’ affordability. With a more accurate nowcast of a consumer’s disposable income, we can ensure those customers who can afford your product are approved, while helping you reject those you rate as too risky. Experian ONS+ is ideal for any lender who is looking to improve confidence in their decisioning. It’s accessible in multiple formats and easy to integrate into your existing methodology to enhance and update your decision making.

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The benefits at a glance

Accurate - make affordability decisions based on real-time ONS data.

Trusted - the results are produced by Experian’s long-standing, reputable economics models.

Traceable - all calculations are based on publicly-available ONS data for customer reassurance and visibility.

Accessible - the information is available as an Excel file, a data-block, or in whichever format you need.

Simple - calculations are simplified to ease integration ingestion into your existing sums.

Frequently asked questions

Get in touch to find out how Affordability Expenditure Models can help your business

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