Missing from the electoral register

Deadorred

Hi there

I'm about to relocate from one part of the country to another and thought I would take out a bank loan to cover the cost.

However when I checked my credit score with experian and equifax, for some reason both say I am not on the electoral register. I definitely should be, I voted in the general election this year and every election since I turned 18.

Does anybody think this will be an issue, and if so, what's the quickest way to resolve this?

Currently I earn 25k and have an arranged overdraft of 3.5k. I was looking to borrow 7.5k to pay off the overdraft, move and set up an isa.

Thanks

Gaz83

You're looking to borrow money to set up an ISA?

CKhalvashi

Gaz83 wrote: »

You're looking to borrow money to set up an ISA?

My first thought too.

Unless it's from your own Ltd company, and you intend to take it as a dividend anyway, not a chance I'd borrow to do this.

Caz3121

An ISA is somewhere you put your own savings..unless you can get an interest rate on a loan lower than the interest rate on the ISA, this makes no sense.

poppasmurf_bewdley

I'm in agreement with the above. It's madness to borrow money to open an ISA.

As regards your entry on the Electoral Register; if you voted in the General Election this year then you should be on there. I had a similar situation with myself and my son - I knew we were on there but all credit agencies said we were not. It transpired the ER was showing us but with a different, and incorrect, postcode, so the computerised CA's simply couldn't find us at our correct address. A letter to the council's Electoral Services Department soon corrected the error, but I did have to send a copy of the council's reply to all three CA's to get the error corrected.

Deadorred

How long did it take to sort out?

Deadorred

I don't want the money to set up an isa, however borrowing more than I realistically need would get me a better Apr and mean I actually repay less.

poppasmurf_bewdley

Deadorred wrote: »

How long did it take to sort out?

About four weeks.

Deadorred

Hmm, that sucks, my new job starts in 4 weeks so I'll need the cash before then.

Candyapple

Do you not have any credit cards you could put the moving costs onto?

Any savings?

Increase your current overdraft?

If your bank (the one you have the OD with) have given you an overdraft, you might want to try with them first perhaps in-branch, to see if they can give you a loan even though you're not showing on the electoral roll. One application won't hurt.

If you get declined then you'll either need to sell some items of value you own / put off moving until you have the funds? / go to whatever plan B you have in place.