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A QUARTER of young people don’t realise they risk harming their ability to get a loan or credit if they are not registered to vote, research published today suggests.
About one in four 18 to 24-year-olds in Britain did not know that not being on the electoral roll can hit their credit rating, according to uSwitch.com, which surveyed more than 2,000 people.
The comparison website warned that lenders use the electoral register as one of the main ways to check the names and addresses of people applying for credit.
Not registering, or being registered at a previous address, can lead to people’s applications for credit being rejected and in turn the ability to buy a house, or secure a phone contract or bank loan.
The survey found that it can also make it hard to access other financial products such as insurance or a savings account.
