Guarantor
Hope this will make sense and someone can offer advice...
I moved into my flat just under 3 years ago, private renting. When I moved here I was told i wouldn't need a guarantor, instead i could pay 3 months rent as a security bond. My current tenancy expires in 2 months and now I've received an email saying I need to find a guarantor due to change in UK law which requires each tenancy to have a guarantor. Only problem is I haven't got one. I asked my father but as he doesn't own his property isn't able to help. His wife owns it but doesn't want to help. The letting agency said they have connection with a company who can act as a guarantor, but even for that I've got to find someone who can act as a 'co signer' incase I can't afford the rent. But again, no one seems to want to know. This is starting to scare me a little, especially with coronavirus the last thing I need is to be made homeless. I wouldn't be able to get anywhere else to private rent without a guarantor and credit checks (two things I luckily didn't need to move here).
what do I do? I've replied to the email this morning from the letting agency who owns the flat (there is no landlord) and will try and get through to someone,but with the whole office working from home it's very difficult.
I moved into my flat just under 3 years ago, private renting. When I moved here I was told i wouldn't need a guarantor, instead i could pay 3 months rent as a security bond. My current tenancy expires in 2 months and now I've received an email saying I need to find a guarantor due to change in UK law which requires each tenancy to have a guarantor. Only problem is I haven't got one. I asked my father but as he doesn't own his property isn't able to help. His wife owns it but doesn't want to help. The letting agency said they have connection with a company who can act as a guarantor, but even for that I've got to find someone who can act as a 'co signer' incase I can't afford the rent. But again, no one seems to want to know. This is starting to scare me a little, especially with coronavirus the last thing I need is to be made homeless. I wouldn't be able to get anywhere else to private rent without a guarantor and credit checks (two things I luckily didn't need to move here).
what do I do? I've replied to the email this morning from the letting agency who owns the flat (there is no landlord) and will try and get through to someone,but with the whole office working from home it's very difficult.
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Original post by Dinosaur27
Hope this will make sense and someone can offer advice...
I moved into my flat just under 3 years ago, private renting. When I moved here I was told i wouldn't need a guarantor, instead i could pay 3 months rent as a security bond. My current tenancy expires in 2 months and now I've received an email saying I need to find a guarantor due to change in UK law which requires each tenancy to have a guarantor. Only problem is I haven't got one. I asked my father but as he doesn't own his property isn't able to help. His wife owns it but doesn't want to help. The letting agency said they have connection with a company who can act as a guarantor, but even for that I've got to find someone who can act as a 'co signer' incase I can't afford the rent. But again, no one seems to want to know. This is starting to scare me a little, especially with coronavirus the last thing I need is to be made homeless. I wouldn't be able to get anywhere else to private rent without a guarantor and credit checks (two things I luckily didn't need to move here).
what do I do? I've replied to the email this morning from the letting agency who owns the flat (there is no landlord) and will try and get through to someone,but with the whole office working from home it's very difficult.
I moved into my flat just under 3 years ago, private renting. When I moved here I was told i wouldn't need a guarantor, instead i could pay 3 months rent as a security bond. My current tenancy expires in 2 months and now I've received an email saying I need to find a guarantor due to change in UK law which requires each tenancy to have a guarantor. Only problem is I haven't got one. I asked my father but as he doesn't own his property isn't able to help. His wife owns it but doesn't want to help. The letting agency said they have connection with a company who can act as a guarantor, but even for that I've got to find someone who can act as a 'co signer' incase I can't afford the rent. But again, no one seems to want to know. This is starting to scare me a little, especially with coronavirus the last thing I need is to be made homeless. I wouldn't be able to get anywhere else to private rent without a guarantor and credit checks (two things I luckily didn't need to move here).
what do I do? I've replied to the email this morning from the letting agency who owns the flat (there is no landlord) and will try and get through to someone,but with the whole office working from home it's very difficult.
Sounds strange - my son did not need a guarantor so when did this become law?
Original post by Muttley79
Sounds strange - my son did not need a guarantor so when did this become law?
They're saying June 2019. Never had issues with paying rent in time and does seem fishy. When did your son start to rent?
Original post by Dinosaur27
They're saying June 2019. Never had issues with paying rent in time and does seem fishy. When did your son start to rent?
His current place was November 2019!
There is no law which requires a guarantor. However they are not allowed to take a deposit of over 5 weeks rent so maybe what there issue is? Are you on an AST? If so you can hold over and do not need a new tenancy. Also they have 3 years record that you pay your rent so they are being a bit short sighted!
Tempted to email that link to the letting agency!
Original post by Joinedup
Yeah, sounds dodgy. are you sure the email is legit and not a scammer?Its definitely from the manager of the letting sgency
It's definitely from the manager of the letting agency
Original post by Rover5
There is no law which requires a guarantor. However they are not allowed to take a deposit of over 5 weeks rent so maybe what there issue is? Are you on an AST? If so you can hold over and do not need a new tenancy. Also they have 3 years record that you pay your rent so they are being a bit short sighted!
That's what they're saying they can't hold a security deposit that is greater than 5 weeks rent. Yes it is an assured shortholdtenancy
Going to be unusually stressful due to covid making it difficult to get hold of people... a lot of people working in housing law must be flat out due to collapsing sale chains etc.
IMO the law is not saying that tenants must provide deposit and a guarantor... it's your landlord. Check whether this is actually widespread in your area before worrying about being unable to find another rental property. fwiw 4 weeks rent as deposit OR a guarantor has been considered a normal amount for a few decades.
AFICT the law expects landlords to return deposits in excess of 5 weeks rent on the first of June with their tails between their legs and just realise that 5 weeks rent is a sufficient amount and they've been allowed to take the piss too much in the past... but there's nothing I can see to stop them asking for a guarantor in lieu of the amount of money returned.
usual sources of advice are
https://england.shelter.org.uk/
https://www.citizensadvice.org.uk/
enforcement is by local authority trading standards
and you might find someone who's already dealt with similar demands who can give you some advice on
https://www.moneysavingexpert.com/
IMO the law is not saying that tenants must provide deposit and a guarantor... it's your landlord. Check whether this is actually widespread in your area before worrying about being unable to find another rental property. fwiw 4 weeks rent as deposit OR a guarantor has been considered a normal amount for a few decades.
AFICT the law expects landlords to return deposits in excess of 5 weeks rent on the first of June with their tails between their legs and just realise that 5 weeks rent is a sufficient amount and they've been allowed to take the piss too much in the past... but there's nothing I can see to stop them asking for a guarantor in lieu of the amount of money returned.
usual sources of advice are
https://england.shelter.org.uk/
https://www.citizensadvice.org.uk/
enforcement is by local authority trading standards
and you might find someone who's already dealt with similar demands who can give you some advice on
https://www.moneysavingexpert.com/
Original post by Joinedup
Going to be unusually stressful due to covid making it difficult to get hold of people... a lot of people working in housing law must be flat out due to collapsing sale chains etc.
IMO the law is not saying that tenants must provide deposit and a guarantor... it's your landlord. Check whether this is actually widespread in your area before worrying about being unable to find another rental property. fwiw 4 weeks rent as deposit OR a guarantor has been considered a normal amount for a few decades.
AFICT the law expects landlords to return deposits in excess of 5 weeks rent on the first of June with their tails between their legs and just realise that 5 weeks rent is a sufficient amount and they've been allowed to take the piss too much in the past... but there's nothing I can see to stop them asking for a guarantor in lieu of the amount of money returned.
usual sources of advice are
https://england.shelter.org.uk/
https://www.citizensadvice.org.uk/
enforcement is by local authority trading standards
and you might find someone who's already dealt with similar demands who can give you some advice on
https://www.moneysavingexpert.com/
IMO the law is not saying that tenants must provide deposit and a guarantor... it's your landlord. Check whether this is actually widespread in your area before worrying about being unable to find another rental property. fwiw 4 weeks rent as deposit OR a guarantor has been considered a normal amount for a few decades.
AFICT the law expects landlords to return deposits in excess of 5 weeks rent on the first of June with their tails between their legs and just realise that 5 weeks rent is a sufficient amount and they've been allowed to take the piss too much in the past... but there's nothing I can see to stop them asking for a guarantor in lieu of the amount of money returned.
usual sources of advice are
https://england.shelter.org.uk/
https://www.citizensadvice.org.uk/
enforcement is by local authority trading standards
and you might find someone who's already dealt with similar demands who can give you some advice on
https://www.moneysavingexpert.com/
Great post. PRSOM
It sounds like an act of extreme bad faith to demand a guarantor 3 years into an agreement anyway :/
You won't be evicted, no landlord in their right mind would evict right now as the market is flooded with failed airbnb lets.
There is no law requiring a guarantor, and infact no requirement to even sign a new tenancy at all. When your current tenancy ends it just goes to a rolling tenancy.
There is no law requiring a guarantor, and infact no requirement to even sign a new tenancy at all. When your current tenancy ends it just goes to a rolling tenancy.
Thanks for replies everyone ☺. I seem to have it sorted. Going with a company connected to landlord/letting agent who will act as my guarantor. Co signatory is sorted and it has cost me a month's rent but at least I won't be evicted now and can sleep easier. Still highly confused by it all but hey ho.
Original post by Dinosaur27
Thanks for replies everyone ☺. I seem to have it sorted. Going with a company connected to landlord/letting agent who will act as my guarantor. Co signatory is sorted and it has cost me a month's rent but at least I won't be evicted now and can sleep easier. Still highly confused by it all but hey ho.
I though you couldn't be evicted for the next three months due to a new (covid-19) law?
Ffs lol. I saw the thread title and your username, and thought if 'Guarantor' is some sort of dinosaur species I've not heard off before.
I've not been outside for two days now. This is what starts happening to me if I don't go out. Bruh.
I've not been outside for two days now. This is what starts happening to me if I don't go out. Bruh.
Original post by _Mia101
I though you couldn't be evicted for the next three months due to a new (covid-19) law?
Yes but I would still have been evicted after covid 19. This isn't rent arrears issue, this is finding a gaurantor.
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