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That surprises me, as the V5 is the "registered keeper" not the owner? Never leased so not sure how this all works. :(
For leases the V5 registered keeper usually remains the leasing company. Stuff that goes to that address gets forwarded on to you with an extra fee, eg. parking tickets etc.

Not sure why it is this way, but I'm sure it has some benefit above just making it obvious who the owner actually is.
 
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