The importance of getting your name on the electoral roll
Failing to register on the electoral roll doesn't just mean you miss the chance to vote. It can also damage your finances.
There’s more to being on the electoral roll than simply casting your vote. It’s also a tool used by lenders across the nation to decide whether they want to approve your application for credit.
The electoral roll and your finances
That’s not because they only want to lend to politically active people, but rather the electoral roll is a way for them to check you are who you say you are. If you aren’t registered on the roll – or you’re registered at a former address – then when the lender comes to double check the name and address details you’ve supplied on your application, alarm bells will ring.
It may simply mean that your application for credit is delayed, which could cost you in the short term if you’re in need of a loan, credit card or mortgage. But some lenders may turn the application down outright, particularly if they suspect the application is fraudulent.
And that can cause more long-term damage to your financial position. Your credit record doesn’t actually show if your application has been successful or not. But if it shows that you’ve applied for credit a number of times within a short space of time, that’s a tell-tale sign of at least one rejection, which isn’t going to make you look like a particularly attractive prospect to lend to.
Getting registered
You can register to vote online at AboutMyVote. You’ll need to provide your postcode, so that it can determine which is your nearest electoral office, and fill out some personal details. You can then print it, sign it and send it off.
It doesn't happen straightaway!
It can take a while for this information to be added to your credit record. That’s because councils only tend to process updates to the electoral roll in their area on a monthly basis, which is then sent on to the various credit agencies.
All of which shows how important it is to be prepared and make sure your credit record is up to scratch before you start applying for credit. Head to our credit report centre to see where you can see your credit record for free. And if you need help on making your record look even more impressive to lenders, read Ten simple steps to improve your credit record.
More on credit:
Why have I been turned down for credit?
Missed payments: how long do they stay on your credit record?
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