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Student Guarantor Services in the UK
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Student Guarantor Services in the UK

Written by Sam | May 6, 2021

If you are a student who is coming to the UK and you need to have a guarantor for your accommodation, here are some of main operators in that sector that you can choose from.

These companies are the ones that are most well known and deal the most with students. A lot of the time these companies will partner with student accommodation providers in order to offer a guarantor service. It will be on a referral basis.

We offer the same and we partner with Guarantid because they are fast at getting you a decision so you can keep on moving with the booking of your student accommodation.

The way they usually work is that they will act as a guarantor, however they will have what is known as a co-signature which needs less rigorous checks than a guarantor and if anything is to happen the costs are passed to the co-signaturue.

You will only need a UK based guarantor if you are paying in monthly or instalments and because the landlord or letting agent requests one.

If you are paying in full, you won’t need a guarantor.

Which one is the best?

This is a tricky question, I would say Housing Hand are most popular because they have partnered with a lot of the student accommodation providers and because they have been doing it longer than most others.

However, I partnered with Guarantid because of the speed of decision and the fact that they are a young (by age) company that understand the needs of students quite well as most of them are graduates.

Due to there being not many people in the sector it has brought some new faces around such as Guarantid and Rent Guarantor.

Just so you know UK Guarantor is owned by Housing Hand as well, even though they might have slightly different methods they are owned by the same people.

How Much Do They Cost

  • Guarantid – 5.8% of rent or 3 weeks worth of rent
  • Housing Hand – Can be split over 8 months starting from £42 per month – Will be linked to your rent amount
  • UK Guarantor – £295 and the actual amount linked to your rent
  • Rent Guarantor – Doesn’t say, but will be linked to the amount you pay in rent

Points to Look Out For

When you are looking at getting a guarantor as a student, whoever is being the co-signature or a guarantor in the UK needs to make sure they understand what they are liable for.

For example, if the guarantor agreement is joint and several they could be liable for all the rent in the house even if they are not related to you.

Please make sure that you read the agreement and understand what you are responsible. Being responsible for your child is absolutely fine but for others can start to add up to a lot in rent.

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