Martin Lewis shares 'urgent' reason Britons must register to vote before deadline - 'Good for your finances!'
Martin Lewis has issued an "urgent" warning to people ahead of the General Election
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Martin Lewis and other money experts are urging Britons to take action ahead of the the upcoming General Election and register to vote before an important deadline tonight.
The financial journalist shared on X, formerly Twitter, how being on the electoral roll is "good for your finances" but the public have until 11:59pm on June 18 to register their details.
Lewis posted a link to the Government's website which allows people to register to vote and outlined some facts people need to know before doing so.
He wrote: "Urgent. Please share. The last chance to register to vote in the General Election is 11.59pm Tuesday June 18. Potentially eight million aren't registered at their current address.
"You can do it online. It's good for your finances. Not being on electoral roll can make it more difficult to be accepted for credit products like bank accounts or mortgages.
"You can opt out of the 'Open Register' (which allows your info to be sold on) which will stop you getting junk mail marketing. You'll need ID when you do vote (not to register) if you don't have it, you can get it free until Wednesday June 26."
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MoneySavingExpert Martin Lewis is reminding people why they must register to vote before tonight's deadline
PAOne of the major issues being debated during the election campaign has been the cost of living crisis with voters having been forced to contend with high inflation, interest rates and energy bills.
While energy costs and the Consumer Price Index (CPI) rate have eased in recent months, rates remain relatively high thanks to the Bank of England's decision to raise the base rate.
As part of its effort to bring down inflation, the central bank has increased, and held, interest rates at 5.25 per cent since August 2023. While this has helped savers, mortgage and debt borrowers have been hurt in the interim period.
However, experts have highlighted how registering to vote before tonight's deadline could help homeowners get better deals.
According to analysis conducted by Experian, signing up for the electoral roll can add up to 50 points to an individual’s credit score.
This credit boost could benefit homeowners and propel them into higher credit rating band, or see savers be awarded with exclusive competitive savings rates.
As such, Britons could potentially make significant savings by just being registered to vote.
John Fraser-Tucker, the head of Mortgages at Mojo Mortgages, highlighted how spending two minutes today
He explained: "Over 7.6 million people are currently missing from the electoral roll in the UK.
"By taking just two minutes to register, you could not only have your say in the election but potentially improve your chances of qualifying for a better mortgage deal.”
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The Bank of England base rate has held interest rates at a 16-year high since it was hiked to 5.25 per cent last August GB NEWSBased on Experian’s credit score mode, mortgage borrowers with an "Excellent" credit score between 961 and 999 are likely to be in line for the best mortgage deals with lower interest rates.
Fraser-Tucker added: "“It is, however, important to note that mortgage lenders don’t rely solely on credit scores.
"They’ll review your entire credit report, income, existing debt and bank account to assess your ability to make consistent mortgage repayments.
"That being said, this is a two-minute hack that may make a difference."