Guarantor advice please!!

lisa2905

thanks for all your advice all. I was amazed at the info they needed or wanted !!!

Awec

Landlords who rent to students get messed about so much, it's no surprise they want to be absolutely totally sure you can pay.

Mrs_Ryan

My mum was my guarantor - she doesnt work (medically retired) but they just wanted her name and address, and they wanted a copy of a driving licence but I told them she wasnt allowed to drive due to her disability and they accepted a copy of a phone bill with no problems.
As it happened, we did fall behind with the rent but they were surprisingly helpful - they accepted an offer of £10 a month with no questions asked (mine was a very extreme case though as there was domestic violence involved)
I havent had to rent for a good few years now but it amazes me what's involved these days....!!

tbs624

lisa2905 wrote: »

.....What does the landlord need to know such detail for and are they allowed to ask/have such detail. Thank you to anyone who can give me a bit of advice on this !!

Yes, they are "allowed" to ask for such detail (it's the LLs property and s/he chooses his/her own business terms) just as your step-son and your husband are "allowed" to choose to try somewhere else.

Most LLs will credit check a guarantor as well as the potential T and that level of info is required by the third-party credit checking agencies. If you have a student with limited financial means and their guarantor turns out to be unemployed,on a very low income or has a history of CCjs of their own then the LL has no effective guarantee.

Your either go along with it, try to negotiate on the provision of different info ( which the LL may not be able or willing to accept) or go elsewhere. If you go via the Letting Agencies, you would find that their requirements are even more " invasive." and you'll get to pay exorbitant admin fees for thepleasure of doing business with them.

What you husband may like to look at very closely is the wording of both his son's contract and the guarantor agreement. If your stepson is signed up with other students to one AST it means that they will have "joint & several liability" for all payments under the contract: this means that any one of the T's can be pursued for the total payments due at the property. If one or more tenants (and their own guarantors) do a bunk the LL can look to other other Ts to make up the shortfall, and this includes pursuing the other T's guarantors.