How to secure a UK guarantor
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How to secure a UK guarantor

How to secure a UK guarantor


If you are renting in the UK, you may need a guarantor. This is a common requirement by landlords and letting agents. But what is a guarantor and why would you need one? We answer these questions and more below.

 

What is a rent guarantor?

As the name suggests a guarantor is someone who provides a guarantee. In this case your guarantor promises to pay the rent and any other costs if you're unable to do so. This means if you don't pay the rent at the end of the month the landlord can ask the guarantor to pay it.

 

Why would I need a guarantor?

A landlord or letting agent will ask you to provide a guarantor if they feel there may be a risk you won't be able to pay the rent. This may be because you haven't rented before, are young or a student. Foreign students studying in the UK will almost always require a guarantor. This could also be the case if you're unemployed or on a low income. You may consider this to be a little unfair. But the landlord is looking for a guarantee they’ll receive the rent.

 

What are the drawbacks to being a guarantor?

It’s easy for the person acting as guarantor to overlook what they’re actually committing to. But being a guarantor is a very real responsibility. And it comes with a potentially large financial burden.

 

A guarantor is ultimately responsible for any money you owe the landlord. This is usually rent arrears but could include costs for damages and even legal fees. There’s also another factor which many tenants and guarantors are unaware of.

 

Joint tenancies, in student housing for example, can present extra issues. Your guarantor becomes responsible for every tenant in the property. And that includes rent arrears. Understandably this could come as a big shock to your guarantor.

 

Who can be a guarantor?

A guarantor must be based in the UK and is usually a family member, most often a parent, but friends can also fulfill the role. If you're asked to provide a guarantor you should consider carefully who you'll ask. It needs to be someone you're comfortable with and there must be trust between you. After all you're asking your guarantor to potentially make a serious financial commitment. If you don't pay the rent or cause damage you can't pay for, your guarantor will be legally responsible for the costs. This is why you need to carefully consider who you ask to be your guarantor.

 

Finally, your guarantor should be aware the landlord or letting agency will perform a credit check. This can impact on the guarantor’s credit score. And, of course, if your guarantor doesn’t pass the credit check you’ll need to ask someone else to take on the role.

 

How to find a guarantor

Most tenants, especially young renters such as students, will look within their immediate family. Parents are the obvious choice as a guarantor for most young renters. But what if you can’t find someone or you don’t want to impose on a family member? Or what if you’re an overseas student with no UK based family?

 

Fortunately, there are companies that will act as a guarantor for you. They fulfill the same role as an individual or family member would. However, as you would imagine you’ll need to pay a fee for this service. Costs vary but usually start at around £250.  You do need to provide proof that you’re a student along with photo ID. Your letter of acceptance from the university and your passport will be fine.

 

You’ll still require a co-signer, but this person won’t be credit checked. However, do carefully read the terms and conditions. The co-signer will still have financial obligations and they may have to pay the rent if you don’t.

 

Nevertheless, using a specialist company is a great way for anyone to secure a UK guarantor. But students aren’t the only tenants who can use these services. Graduates and employees can also use a guarantor company. If you’re in this category all you need to do is provide an employer’s letter and wage slips (your monthly income needs to be 2.5 x the rent). The same fees apply.

 

Needing a guarantor may put off some tenants from applying for a property. But the rise of specialist companies providing this service means everyone can find a UK guarantor if needed.

 

Tenants can find their ideal property faster with MakeUrMove the online letting platform bringing landlords and tenants together.


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A tenancy guarantor guarantees rent payments and other tenancy obligations that make up the tenancy agreement. Legally, tenancy guarantors are said to stand surety. Whilst a guarantor must be at least 18, they can come from any walk of life and can have different relationships with a tenant. 

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