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Guarantor Companies For Students
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Guarantor Companies For Students

Written by Sam | June 21, 2018

What happens if you can’t provide a rent guarantor? This situation is very popular with international students that come to study in the UK and it can happen with a lot of UK citizens.

Why Do We Need a Guarantor?

As we discussed in our previous blog Guarantors, we mentioned who are likely to be your rent guarantors, the responsibility of rent guarantors, and some of the responsibilities they have to do if you stop paying your rent. However just to recap on what was there:

A guarantor is essentially someone who will make sure that any debts will be paid if you can’t pay them.

They need to live in the UK and pass certain credit checks in order to become a guarantor. A guarantor can be anyone, it doesn’t have to be family.

Find some creative ways to beat the guarantor system

Occasionally, what landlords can do, if it is a shared contract is put a clause in a contract to say that guarantors have to cover all tenants, so not just YOU! Check your contract carefully!

Private Guarantor Companies

What happens if you can’t find or get a guarantor or the landlord or letting agent won’t accept one of the creative strategies in our other article? Your creative choices can be:

  • Pay 6 or 12 months rent upfront, including the deposit, and letting agent fees.
  • Pay higher deposit
  • Pay for rent insurance which is usually cheaper than the option below
  • Find a different agent that will accept no guarantors.
  • Some letting agents may allow you to stay if you have the money in a designated account.
  • Find a guarantor.
  • Use a private company which is what we are going to look at today

We prefer and partner with Guarantid who can turn around applications really quickly and they are very young, in terms of age of employees, so they know what it’s like being a student and can help from their experience!

Discover. Trust. Review.