If you’re looking to rent in the UK, you’ll most likely be asked to provide a UK rent guarantor. It sounds complicated, but rest assured it’s not. Explained in short, this is an individual that is prepared to be responsible for your rent, in the case that you default on a payment.
Using a service like UK Guarantor can actually help save you money by eliminating upfront costs and giving you the financial security you need – this is massively beneficial, especially in today’s challenging and costly times. But what exactly is a rent guarantor, how does it work, and how can it save you money?
Here are some examples of when a UK guarantor may be needed:
- When it’s your first time renting privately
- If you’ve been living in a different country
- You are a student or an international student
- You’ve been temporarily unemployed or don’t have a steady income
- Occasionally all of the above criteria may be met, but a landlord still may request a rent guarantor for peace of mind.
Who can be a rent guarantor?
The process of moving is already incredibly stressful, especially if you’re relocating from overseas. Sometimes, it’s a struggle to secure yourself a UK rent guarantor. This is because there are a few criteria and requirements that they must meet. In short, here they are listed below:
- Be between the ages of 18-75
- Have a good credit history
- Be able to pay your monthly rent (may have to earn a certain amount per annum)
- Be a UK resident
- Be able to provide evidence of all of the above
If you are struggling to find someone who meets these criteria, that’s where a UK guarantor service will benefit you.
How does a UK Guarantor Service work?
If you’re living overseas or you don’t have a UK contact, finding a UK rent guarantor that is happy to take on that level of responsibility can be challenging. If you’re unable to provide a guarantor, landlords can often request an up-front payment of 6-12 months of rent – which for most is unaffordable and not an added cost that you need when relocating. Not to worry, our affordable and reliable guarantor service offers a solution that helps students and working professionals secure a rental property.
The process is simple, once you’ve found your dream accommodation, follow our easy step-by-step guide and apply online (it only takes a few minutes). As soon as your application is approved and you’ve supplied us with the required documents, you’re ready to move in.
What are the added benefits of using our UK Guarantor service?
Alongside the financial security of having a rent guarantor, our guarantor service allows you to gain access to a wider range of homes – this is a massive benefit with the current challenging rental market. By using UK Guarantor, you will also have more money available by not borrowing – this is because you will not have to pay massive upfront costs.
If you’re a student or working professional looking to secure a Guarantor, get in touch with a member of our team today – or start our easy application process now to secure your dream accommodation!
