If your applicant has lived in a number of different places, this can get messy. Here we give you the dos and don’ts of the process, helping you get the applicant in as quickly as possible.
Q: Why can’t a driver’s licence be used as proof of address?
A: This document isn’t governed by the Consumer Credit Act and in most cases wouldn’t be dated within the required time period. The Anti-Money Laundering Regulations require documents to be dated within the last three months.
In addition to the above, Keysafe’s policy requires documents for the current property to be dated within the last three months. Documents for a previous property must be dated within six months of the applicant living there.
Q: Why can’t a tenancy agreement be used as proof of address?
A: A tenancy agreement isn’t a standardised agreement: you can buy them from WHSmiths or find them online. They can be easily replicated. What would be acceptable is a copy of the tenancy deposit registration document if dated within the required time period.
Q: Do you accept proof in the name of a family member or friend they’re living with?
A: Absolutely not. This only verifies that the family member or friend is registered to the address. It is in no way proof that the applicant is or was registered there.
Q: Why doesn’t the landlord reference count as proof of address?
A: The landlord reference only verifies where an applicant has been living. We must also check where they’re registered for credit purposes. They’re not always the same. Sometimes applicants will have a different correspondence address. It is often this other address where we find adverse credit history.
If we find there isn’t a match between the applicant and the address they’ve provided, we can only be able to accept a bank statement or a bill, in line with Anti-Money Laundering Regulations.
Any more questions? Drop us a line at firstname.lastname@example.org and we’d be happy to help.