MSE News: Get on the electoral roll to boost your credit chances

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"Over six million people could boost their chances of getting credit by joining the electoral register..."
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Get on the electoral roll to boost your credit chances

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  • Fruit_and_Nut_Case
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    This is news?
    Are you for real? - Glass Half Empty??
    :coffee:
  • jibbyboo
    jibbyboo Posts: 262 Forumite
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    I've just re-registered for my new home, and opted out of the edited register which says would be used for marketing communications. I am assuming that credit referencing uses the full register?
    Please respond to mine and others' posts with courtesy and kindness- and I will not deliberately disrespect you. Down with the trolls!
  • Tixy
    Tixy Posts: 31,455 Forumite
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    jibbyboo wrote: »
    I am assuming that credit referencing uses the full register?

    It does indeed
    A smile enriches those who receive without making poorer those who give
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  • ElkyElky
    ElkyElky Posts: 2,459 Forumite
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    If you aren't on the electoral register, then it's unlikely you will get any credit, as lenders use the roll to check out potential borrowers.

    I disagree with this. Whilst being on the register helps, it's still possible to get credit without issue by not being on it.

    In fact, I was accepted for 3 different main stream credit cards before I finally registered. Likewise, someone in the family got a personal loan and they've never registered for the electoral register.

    MSE always makes it out like it is impossible to obtain credit whilst not being on the electoral register but it really isn't. I'm sure there will be lenders who automatically decline for not being on the register, but equally, there are lenders who won't even bat an eyelid.
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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    ElkyElky wrote: »
    I disagree with this. Whilst being on the register helps, it's still possible to get credit without issue by not being on it.

    As underwriting criteria gets progressively tightened down , a tracable address history is becoming a critical factor.
  • izools
    izools Posts: 7,513 Forumite
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    Thrugelmir wrote: »
    As underwriting criteria gets progressively tightened down , a tracable address history is becoming a critical factor.

    Yeah but it'll never be that tight as that would result in those new to the country or those ineligble to vote being biased against.
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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    izools wrote: »
    Yeah but it'll never be that tight as that would result in those new to the country or those ineligble to vote being biased against.

    Everything has a price, question is would you be willing to pay it.
  • izools
    izools Posts: 7,513 Forumite
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    Bank accounts for example will always be offered to those without a totally rugged and traceable address history as if they weren't then foreign students, immigrants, and the like wouldn't be able to bank...

    ...Once a bank account is opened pre-approved offers would in time be generated off the back of good account conduct (depending on which banking group it is of course, I think Lloyds Banking Group are the only ones left that do this come to think of it)
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  • JuicyJesus
    JuicyJesus Posts: 3,830 Forumite
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    izools wrote: »
    ...Once a bank account is opened pre-approved offers would in time be generated off the back of good account conduct (depending on which banking group it is of course, I think Lloyds Banking Group are the only ones left that do this come to think of it)

    Barclays, too.
    urs sinserly,
    ~~joosy jeezus~~
  • phatbear
    phatbear Posts: 4,032 Forumite
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    not being on the electoral roll recently became an issue for me.

    i have been living with my other half, now ex, for 10 years and never registered for the electoral roll and, despite having a few credit cards, with no debts on any of them, i was recently turned down for a mortgage because of my non apperance on the roll.

    thankfully having a decent mortgage broker he was able to find a lender who didnt put so much emphasis on my name being on the roll.
    Live each day like its your last because one day you'll be right
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