Loans data to be shared real-time

%VIRTUAL-SkimlinksPromo%Another major credit reference agency is to start sharing "instant" information about consumers' borrowing habits to help prevent firms lending to people who are on the brink of tipping into a problem debt spiral.

Experian announced it was to launch a new service this autumn giving credit providers a real-time snapshot of someone's financial information, enabling them to make lending decisions which were more accurate and fair.