The Student Room Group

Guarantor problems!

Hello all!

So I'm currently a second yer uni student and I'm trying to find a flat with my partner. We have now found one and have paid the holding fee but the issue of having guarantor has come up. Well she's in full-time employment so doesn't need one for her share of the rent but for my share its needed and I assumed my dad would be eligible as he was my guarantor last year for a higher rent (£100 more per month!). But as he's on disability allowance I'm not sure if they would accept it? I have asked but they say he needs to be in full time employment etc etc, so kinda stuck! my partner earns enough to pay for the flat itself so I really don't see why this should be an issue but I'm worried it will ruin our chances of getting it or losing the holding fee. Is there anyway around it? I have no other UK home owners in full time work would could do it. Could I suggest paying half my rent for 5-6 months upfront in April? (next student finance).

Was hoping for some advice or stories on similar experiences? Oh and my uncles wee possibilities who both own a house, however one is now a part-time/agency teacher and the other doesn't currently pay tax?

Sorry for the jumbled rant! Worried :frown:
Reply 1
:bumps:
Reply 2
Its strange that they ask the guarantor to be in full time work, I didn't even get asked if my guarantor worked let alone in full time when I had to supply one to two different letting agents.

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Reply 3
Guarantors are more closely monitored than they ever been in the past. I remember when I used to just get my parents to sign a form and that was that - no checks or anything. It's a ridiculous system though as technically you could be a multimillionaire in the bank and retired - but you'll fail the income check and cant act as a guarantor.

This year though, I had exactly the same issue as you OP and almost ended up losing the flat and a £1040 upfront payment at the last minute. I basically put the deposit down only to find out my guarantor would fail the agents acceptable guarantor check. The only way I could settle was to pay 6 months rent up front (which I appreciate may not be an option).

Definitely offer the estate agent money upfront. Sometimes they'll allow it and sometimes they wont. Sometimes they only allow it if both people pay up front. Only way to find out is to ask. Bare in mind that international students have no guarantors - they settle it by paying upfront.
(edited 10 years ago)
As far as I am concern the guarantor needs to and UK based and own a property, that's it. Why would they need to know whether guarantor is employed or not ? it's completely irrelevant. In case of default they have security of guarantor's property.
(edited 10 years ago)
Reply 5
Thanks for the replies! Yes that's what I thought but my letting agent requests they work full time aswell. Plus they need to earn 3x the rent per annum, so my half of the rent is £350 (relatively cheap) and they require the guarantor to earn over £12600. Maybe I'm just unfortunate with my agency or is it really getting more difficult? Really don't wanna lose this place!

@ xyloid, I hope things worked out well for you in the end! :smile:
Reply 6
Original post by AnniexXx
Maybe I'm just unfortunate with my agency or is it really getting more difficult?


General consensus on other money related forums is that it is getting more difficult to pass the guarantor's requirements. Also of issue is that frequently the guarantor is being asked to guarantee the entire rent.. not just their child's part of it.

The only other option that seems to be widely accepted is to offer to pay a proportion of the rent up front.
Reply 7
Original post by chmielinski1992
As far as I am concern the guarantor needs to and UK based and own a property, that's it. Why would they need to know whether guarantor is employed or not ? it's incompletely irrelevant. In case of default they have security of guarantor's property.


Realistically though they wouldn't be able to get the homeowner to sell the property, they are much more likely to be able to pay up if in work.
Reply 8
Original post by jelly1000
they are much more likely to be able to pay up if in work.


Even then its highly unlikely. My experience of lettings agents are that they have no idea of the actual legal requirements involved with their work, and that most would seriously struggle if challenged in court.
Reply 9
I was in a similar situation where I couldn't provide a guarantor to rent a student house, I ended up getting round it by paying extra rent in advance and a larger deposit :smile:
Original post by Reue
Even then its highly unlikely. My experience of lettings agents are that they have no idea of the actual legal requirements involved with their work, and that most would seriously struggle if challenged in court.


Oh I don't doubt that, or even if they are aware they deliberately ignore them. My new landlord hasn't got a clue
I am just wondering, because obviously you are worried that you might end up loosing your holding deposit. My question is have they provided you with holding deposit terms and conditions before you paid it ? If not, they legally can not keep it. You must be presented requirement to rent a property before you pay a holding deposit, so if you weren't aware before you paid your holding deposit that they require your guarantor to be in full time employed, legally they can not keep it.
Original post by SaBzY
I was in a similar situation where I couldn't provide a guarantor to rent a student house, I ended up getting round it by paying extra rent in advance and a larger deposit :smile:


Hi I know this was a while ago.

How did that come up as I am in a similar situation was it at the landlords suggestion? Thanks

did you end up paying more than the others overall?
Reply 13
It was my suggestion, as a guarantor is just a safety net if you cannot pay rent for whatever reason, so they were fine with me paying more initially (it was only a 1 year contract). I didn't pay more than the others overall, just paid a few months rent in advance, got the deposit back in the end. I guess it will depend on the letting agency/landlord as to whether they would allow it.

Original post by cali77
Hi I know this was a while ago.

How did that come up as I am in a similar situation was it at the landlords suggestion? Thanks

did you end up paying more than the others overall?
Original post by SaBzY
It was my suggestion, as a guarantor is just a safety net if you cannot pay rent for whatever reason, so they were fine with me paying more initially (it was only a 1 year contract). I didn't pay more than the others overall, just paid a few months rent in advance, got the deposit back in the end. I guess it will depend on the letting agency/landlord as to whether they would allow it.


Thank you so much, so when the rest of your housemates were paying rent you didn't have to worry about it? That's not a bad situation to be in actually

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