It is possible, but not recommended.
I would suggest, in that situation, that you make an appointment and apply in person - postal delays could really affect you.
We applied 2 weeks before by post (IIRC) cheque was cashed on September 23rd and Visa expires 30 September. Still waiting for news.
Always use special delivery especially when posting it late. So long as you have the proof of posting it's not actually a problem if they don't receive it until after your visa expires - it's the posting date that is important.
In some ways it's better to post rather than to go in person as it is feasible you might not actually make the appointment (car breaks down, be too ill to go that day, etc).
Yes, good point. Always use Special Delivery - not just for proof of posting, but you are sending some very sensitive documents so security is an issue.
I would only advise going in person if you live close to a UKBA centre, if you have a good chance of getting work within a short period of time (I'm in South Wales lol, so that is not really a factor), if you need your passport in a few weeks to travel (i.e. holiday, or going back home suddenly), or if you simply want the result now. If you can wait for the result, then posting is the best and cheapest option. I don't like giving the banks (I mean GOVERNMENT) more money than I already give them so the extra £200 was something I was unwilling to pay given the options.
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