Registering to vote is no doubt the easiest thing you can do to save yourself from a mortgage headache. A mortgage headache.. oh let’s not get into that.
It is possible to have an almost perfect credit score without being on the electoral roll but it is nearly impossible to get a mortgage without this. Lenders view your registration on the electoral roll as undeniable proof of address as well as a measure of stability. It’s also a way to ensure you are not laundering money.
Your status on the electoral roll will usually be displayed on your credit file but a quick call to your local council. Do this at least a few months before you plan to apply for a mortgage. While you can usually be added within a month, in late summer and early autumn it could take longer due to the demand from others.
If you’re not on it, you can register on the electoral roll for free. If you’re not a UK or EU national and thus can’t get on the electoral roll to vote, then you can put a notice of correction on your file, saying you have other proofs of address and ID you can offer lenders (assuming that you do).
Register to vote to boost your credit score
You must register to vote to increase your chances of being approved by a lender.This especially true if you are self you are self-employed as lenders consider self-employed borrowers a higher risk. It is important to do this at least a few years in advance as it shows your address history over a much longer timeframe.
There are also other methods to give your mortgage prospects a boot such as registering for the rental exchange scheme if you are currently renting.