Guarantors are available on request for individual tenants. The following sections are mandatory for a guarantor to complete:
- Verify income/rent
- Credit Check
- Employment Reference
For steps on how to request a guarantor please visit How to request a Guarantor.
- The guarantor must be UK based.
- They must earn at least 40X the monthly rental income per annum in order to cover the Tenant's rent.
- The Guarantor must be confirmed as being a resident at the address(es) they have provided.
- Home ownership is mandatory.
How Can a Guarantor Fail Referencing?
A guarantor goes through specific referencing similar to a tenant. Below are a number of reason a guarantor can fail referencing:
- If the guarantor does not meet the income affordability.
- If they have variable employment such as temporary or casual employment.
- If they have been self employed for less than one year or cannot provide sufficient proof of income
- If they have a negative credit history
- If their residency and ownership at the addresses provided cannot be proved
- Information on the application is found to be fraudulent