You are here: Home - Uncategorized -

Landlords at risk of fraud

0
Written by:
02/06/2006

Landlords and buy-to-let owners are one of the groups most at risk from identity theft, according to credit reference agency, Experian.

One in two (48 per cent) identity fraud victims who knew the person that had used their identity were landlords. The risk is exacerbated for landlords renting out property they have previously lived in, as over 4 in 10 (41 per cent) cases of identity fraud are previous address fraud.

In some cases, fraudulent tenants have used the landlord’s name and the rented property’s address to apply for credit, such as credit cards, loans or even just mail-order goods, in the landlord’s name.

Tenants have also intercepted mail addressed to their landlord and used personal details enclosed in the mail to open fraudulent credit accounts.

In both scenarios, the credit application is logged on the landlord’s credit report and bills of thousands of pounds can be run up in the landlord’s name, seriously affecting his or her future borrowing power.

Experian has produced five top tips for buy-to-let property owners to protect their identities. These are: re-direct your post; carry out comprehensive checks before signing a contract with a new tenant; register with the Mailing Preference Service to have your name taken off most of the direct mailing lists in the UK at the rented property; fit secure, individual mail-boxes for your tenants if it’s a shared property; and monitor your credit report.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Penalty save for credit card holders

Plans by credit card providers to cut late payment penalties have been greeted as great news for consumers, for now....

Close