Buying postal address - any good?

Rob_UK

Banks and lenders all love you being at the same address for years. What if I buy postal address(not PO box)? I could move house every day if I want, but my address would stay the same for long.

What do you think? Anybody done this ?

southantrim3

Good question - would be interested in finding out peoples opinion/experiences as well.

Tixy

Do you mean because your address would remain constant on your credit file?

If you give a mobile number rather than a landline number I believe this can have a slight negative on your application.
I would imagine that a PO box would be just as bad if not worse. In fact I imagine they would not be willing to lend to you to a POBox as they would struggle to do the required identity checks under the money laundering regulations. And you cannot be on the electoral roll under your POBox address.

Rob_UK

Tixy, I wrote "Not PO box" Just ordinary postal address. Lot of companies are offering such a service.

immoral_angeluk

You also wouldn't be on the electoral roll.... see Martin's latest article.
http://www.moneysavingexpert.com/news/loans/2010/02/register-to-vote-and-boost-your-credit-score?utm_source=forum&utm_medium=sidebar&utm_campaign=box

custardy

but where does the mail go to
this companys premises?

Rob_UK

custardy wrote: »

but where does the mail go to
this companys premises?

Yes. Then you can come and collect it anytime or they can forward it to your given address.

Tixy

Rob_UK wrote: »

Tixy, I wrote "Not PO box" Just ordinary postal address. Lot of companies are offering such a service.

Sorry - teach me to post whilst I'm eating and only scan reading!

Still think it stands though - they need to verify your identity which is almost always done via the electoral roll.

euronorris

But you wouldn't be on the electoral roll, as other have pointed out.

Plus, you would need to pay council tax at whatever address you actually lived at. Not sure if this is covered under credit checks, or if it ties into the electoral roll and then the credit check would be affected as the addresses wouldn't match.

Either way Rob, it seems like you are trying to find a way to fraudulently obtain credit, which I have a problem with.

Rob_UK

euronorris wrote: »

Either way Rob, it seems like you are trying to find a way to fraudulently obtain credit, which I have a problem with.

How can you say such a thing about me?! I`m just moving every year to different place, still havent bought my own property. I dont owe a single pennie to anybody! But my credit history is bad - was young and dumb, still have 3 defaults.

euronorris

Rob_UK wrote: »

How can you say such a thing about me?! I`m just moving every year to different place, still havent bought my own property. I dont owe a single pennie to anybody! But my credit history is bad - was young and dumb, still have 3 defaults.

I said 'seems', not that you definitely are. Sorry for any offence caused.

However, just because you have a bad credit history, doesn't mean that it's OK for you to try and obtain credit fraudulently.

In fact, if you were caught (which is quite likely), then your credit file would be wrecked for longer and you *could* face legal action.

I'm afraid you will just have to wait until 6 years have passed since the defaults were registered, like everyone else.