Saving and investing news
Loan applicants 'should be on the electoral register'
6 February, 2008
Anyone looking to obtain a loan or other forms of credit should make sure they are on the electoral register, one expert believes.
Neil Munroe, external affairs director at credit agency Equifax, said doing so would allow lenders to confirm the identity and address of a customer when they made their application.
He said: "Lenders, when they're checking people out, don't just make a credit decision - they want to check that it is the right person, because of the increase in instances of identify theft and fraud."
Munroe also explained that getting on the electoral register was now easier than in the past as people no longer had to wait for the annual canvas. People could now register "pretty much straight away" now, he added.
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In 2006 the Department for Constitutional Affairs released figures showing that London has the worst voter registration rate of any region in England and Wales.
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