If you’re looking to rent but are unable to provide acceptable financial referencing, a guarantor can help.
A guarantor is a representative of a tenant who agrees to co-sign the tenancy agreement and becomes jointly and severally liable for any tenant obligations. Our experts can talk you through the process.
The main factors that affect whether someone can act as a guarantor are:
All guarantors will be required to complete a full reference through our referencing agent. This will include providing personal information for a credit check and providing proof of income. Please ensure you are happy to provide this information before agreeing to act as a guarantor. All offers are subject to complete and passed references and a signed contract.
Customer Satisfaction on Google
Landlords let with us
People chose to sell with us
A guarantor will be asked to sign the tenancy agreement along with the tenant/s and therefore becomes jointly and severally liable with the tenant/s for all tenant obligations as laid out in the tenancy agreement. This includes payment of the full monthly rent if any of the named tenants default.
The guarantor will remain associated with the tenancy agreement for the full term of the tenancy and for any renewed term unless the tenants are re-referenced. In this case, the guarantor can be removed from the tenancy agreement and therefore their obligations.
We are often asked if we can write into the tenancy agreement that each guarantor will only represent their tenant; unfortunately, this is not possible. If an application is unable to provide a guarantor in line with the above, the landlord may agree to accept the whole rent for the tenancy in advance. If this is not possible, the applicant will not meet the referencing criteria.
If you are looking to rent and think you need a guarantor, call or visit one of our 19 local branches.
Getting an accurate valuation is vital when you are selling or letting a property. Our team are experts in the London property market. Get in touch to find out how much your property is worth.
We are able to give you expert advice on a case by case basis. Complete the form and a local expert will be in touch.
