Wed 25 Mar 2015 View all news articles

Not registering to vote could endanger your mortgage approval

Being on the electoral register (ER) gives you more than just the right to vote and it is important for people to know that, Callcredit Information Group says.

Callcredit is making efforts to raise awareness among consumers about the wider implications of not being listed on the ER, as recent reports showed a significant drop in the number of registered voters.

There are concerns that the move to the Individual Electoral Registration (IER) protocol would result in fewer people registering to vote in this year’s General Election.

Not registering, however, puts many people at risk of not being accepted for things such as mobile phone contracts, credit cards or even a mortgage.

Jacqueline Dewey, managing director, consumer markets at Callcredit, commented:

“The new IER procedure has potentially left a number of people who assume they’re automatically registered to vote, particularly students, unregistered. Not only does this mean those people will be excluded from exercising their right to vote come the General Election in May, it also means they’re risking not being able to establish their identity – a requirement when applying for credit or building a credit profile.

“For the majority of lenders, confirming an individual’s identity is crucial to ensuring that an application for credit is not fraudulent. The electoral register provides valuable proof of your address to lenders and is a key piece of ID verification”

Individuals can ensure they are registered to vote by visiting the electoral registration website.

Jacqueline concluded “Your credit report is not only made up of your financial commitments, such as bank accounts, credit cards and loans, but also uses public data to build your credit profile – adding yourself to the electoral register can  actually help to boost your credit score”

Source: What Mortgage

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