Verified Guarantor for Ultimate Security

You might need a UK rent guarantor while living in rented accommodation in the nation. He is the person who takes responsibility for paying the rent if you are unable to do so. Moreover, it is a legal requirement for a guarantee agreement to be in writing as it sets out the guarantor's legal obligations. Thus, having one can reduce a lot of hurdles in the path to finding the ideal accommodation in your dream destination.

What Is a UK Rent Guarantor for Students?

Thinking who is a guarantor? Then UK rent guarantor is someone who agrees for the tenant to pay the rent in UK if you are unable to do so. Moreover, the landlord can ask you who your rent guarantor will be to ensure their rent is paid either by you or them. A guarantor can be a close relative, friend, organisation or company. Besides, the landlord can ask about the guarantor if the student is renting for the first time or has a lower income. In addition, it is needed, if you are moving to the UK from overseas, you are unable to provide references from the previous landlord.

What Is the Need for a UK Rent Guarantor?

The main reason behind having a guarantor for rent is that a guarantor is a tool that landlords can use to ensure that a new tenant will not default on rent or damage the property. However, some other factors are as follows:

• Renting for the First Time

If you are moving on a rent for the first time, then the landlord enquire about you by checking your renting history to ensure you are suitable one. Besides, they might ask you to have a guarantor to ensure their rent will not be missed. This is so because, it builds a trust on the landlord.

• You have Low Income

The proof is a crucial document that you will need to qualify as a tenant. This requirement can change depending on the property. However, the general rule is that you need to have proof of income that is three times higher than the rent for a month. If you are unable to do this, you need to have a UK guarantor by your side.

• Have Irregular Income

You may be asked to have a guarantor in the UK if your income is not regular. In other words, you should have a steady income to become an ideal tenant. This is so because it ensures that you will be paying the rent on time without amiss. Besides, if you have a good credit score but a history of unemployment for months, that can be a red flag for a landlord.

• A Non-UK Citizens

For a foreign students, having a rented place requires a guarantor, as the lease agreement often needs a one. This is so because, the students are new to the renting process and the guarantor would be comfortable and can guide them.

However, there are some responsibilities of a UK guarantor for international students that are as follows:

• To Act as an Assurance

As the name suggests, your guarantor for rent acts as an assurance to the landlord that you will be able to make the payments on time. Moreover, with a guarantor, you will be allowed to make payments in instalments; otherwise, you will need to pay a lump sum amount.

• To Pay Rent If Needed

Having a guarantor is having a backup. If you are unable to pay the rent by yourself, the guarantor will do it on your behalf. However, legal action can be taken on both the tenant and the UK guarantor if this happens.

• Be Liable for Any Damages

Apart from paying the rent, the UK guarantor is also responsible if there is any damage. Besides, these damages are covered from the security deposits. But if the amount for damage is more than the deposit, guarantor needs to fulfil it.

Who Can Be a Guarantor? Requirements to Be a One

A guarantor is someone who takes responsibility for your debt. Besides, UK guarantor requirements can vary according to the type of department. But what it generally includes are as follows:

•  A good credit score is usually a necessity.
•  A stable income is a crucial thing that landlords consider.
•  A good payment history ensures you can pay back.
•  A stable employment or source of income is vital point for guarantor agreement.
•  Being at least 18 years old is another necessity.
•  Residing in the UK is a vital requirement for being a guarantor.

How to Get a UK Rent Guarantor?

If you are struggling with the question of who can be a guarantor, then we will be. Thus, to get the guarantor, you need to follow the quick steps listed below:

•  Apply on Our Website

Go to our website and provide the basic details through which we will evaluate your eligibility.

•  Get a UK Rent Guarantor

We will become your guarantor and take on the legal responsibility for paying your rent if needed.

•  Pay Instalments of the Rent

Secure the property and pay the rent in manageable instalments.

This was all about UK rent guarantor that you must perceive before finding an accommodation in the nation. However, finding someone who can take your responsibility in a foreign land can be challenging. But with Gradding.com, you can be sure that someone is by your side as a guarantor. However, not only this, the experts here can also help you with other things required for studying abroad as well.