Being on the electoral roll is a sign of stability

Being on the electoral roll is a sign of stability

Lenders love stability. Living in the same house. Staying in the same job. Only applying for credit occassionally.

The electoral roll is an indicator of stability

The electoral roll is also known as the electoral register. It lists the names, addresses and dates of birth of everyone who’s registered to vote.

There are two versions of the electoral register. The full version and the open register. In Northern Ireland the ‘open register’ is called the edited register.

Anyone can buy a copy of the open register. It is often used for marketing purposes.

You can opt out of the open register. Consequently, you’ll only be in the full version.

The full version can only be used for:

  • Electoral purposes (for example, sending out polling cards before elections).
  • Campaigning activities (for example, political parties sending information to voters).
  • Preventing and detecting crime.
  • Checking applications for credit.
  • Jury summoning in England, Wales and Northern Ireland.

When applying for a loan, why is it important to be registered to vote?

One of the first things a lender will check is if you’re on the electoral register.

Lenders may automatically refuse you credit if you’re not registered to vote. This is because they want to see proof that you are living at your declared address. It helps prevent fraud. Credit Reference Agencies check the details on the register, comparing them with the information you provided on your application.

Furthermore, being on the electoral register helps prove your identity. As a result, there’s less need to show paper documents like passports and driving licences to open new accounts.

Additionally, you’ll have easier access to insurance and legal services. Furthermore, being registered to vote speeds up getting a passport and claiming benefits.

You must register to vote if you’re asked to do so. If you’re asked to register and do not, you could be fined. This does not mean you have to vote. Just register to do so.

Bottom-line: Registering to vote improves your credit score. It means you’re more likely to be accepted for a loan.

About Adrian Davies

With a background in money advice, Adrian's been campaigning for fairer finance for 25 years.

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