Are you registered to vote in the UK? Yesterday Prime Minister Theresa May announced a General Election to take place on 8 June. To be eligible to vote, it’s likely you’ll need to register by midnight Monday 22 May. And did you know that being on the Electoral Roll could also help improve your credit score?
Here are five things you should know about registering to vote:
1. How registering to vote could help improve your credit score. It’s important that your credit report includes your Electoral Roll details, as lenders use this information to help confirm your name, address and where you’ve lived before. This info usually has to be up to date before they are willing to offer a mortgage, a loan or any other form of financial account. Continue reading →
Bite The Ballot, a youth-led grassroots campaign formed in 2010, runsNational Voter Registration Drive, and last year’s campaign saw a world-record breaking 441,500 people registered to vote.
Are the young registering to vote? New Experian research has found that the number of people in the UK who will turn 18 this year on the electoral roll fell by 1.69 per cent compared to 2015’s coming of age voters. 56.7% of local authorities have seen the number fall this year. Continue reading →
Lenders use the electoral register to help confirm who you are and where you live. This info usually has to be up to date before they are willing to offer a mortgage, a loan or any other form of financial account.
Being on the Electoral Roll makes it easier for banks and financial institutions to confirm your identity and not being registered will reduce your Experian Credit Score.
Not being registered could cause a delay when you apply for credit, while the lenders confirm your details some other way. With some lenders it may even hurt the credit score they give you, and some applications may even be turned down. Continue reading →
Lenders will often use the electoral roll information on your credit reportto help confirm your ID when you apply for credit. If you are not registered they may ask for further documents or even turn down an application completely.