Packing up your identity in a home move

Identity theft is viewed as one of the fastest growing crimes in the UK, a situation not helped over past months by Government and HM Revenue & Customs' carelessness in the handling of personal data. But a closer-to-home event, often overlooked, that puts people at risk is moving home.

Still moving

Despite the present economic gloom and financial downturn in the housing market, homes are still being bought and sold and moving occupants are still confronting what is recognised as life's third most stress-inducing event (after divorce and death in the family.)

The colossal upheaval usually attendant on packing up and moving on, whether accompanied by excitement (bigger house, better location) or nervousness (downsizing, repossession), tends to blot out everyday precautionary thought and action. But moving home is stressful enough without having to deal with the financial impact of identity theft - so get it all sorted before you go. This mean post redirection, safeguarding or destruction of documents that identify you and access to your credit file. The alternative is to spend months unravelling fraud and struggling to obtain credit.

Moving home? Then maybe you should be moving your mortgage too! See how much money you could be saving right now with a better mortgage.

A dangerous game

According to Experian research, 24% of UK movers fail to redirect their post and 70% of new residents report receiving post addressed to the previous occupier(s). This post often includes documents containing valuable personal information that a fraudster could use to obtain credit in someone else's name, thus putting that person's ability to access a mortgage, loan or other financial product in jeopardy.

Of the 76% who get Royal Mail to redirect their post, at least 1 in 10 still put themselves at risk by leaving personal documents or information behind in the vacated property. This is understandable with the likes of mail order catalogues or unrequested circulars, but not where personal letters (9% of those surveyed) or bank statements/utility bills (2%) are concerned. Over a third of new residents report receiving credit card application forms, 36% received mail order catalogues and 15% bank or credit card statements, all addressed to previous occupants.

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11 April 2008 © Moneyextra.com

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