Cant get guarantor! Please Help!!!

xh313nx

Hi, me and my partner just applied for the most perfect flat through an estate agent, we just recently applied for it and was not succesfull we did not have any defaults on the credit check but because I have recently become unemployed (but looking) and being a full time student in uni the application has been declined which is really upsetting. My partner works full time and earns a good wage and myself, I am financially stable as well but they will not consider me because of me being a student (which sucks) myself and my partner have tried to get a guarantor but have failed in trying to get one. We really love the flat and are trying to think of ways for the estate agents to consider us, is there any other way for us to be reconsidered by the estate agent? Please if someone can help would such a great help.

concerned43

are you wanting to rent or buy?

Jowo_2

If you can't provide a guarantor, then offer to pay 6 months rent in advance.

What is the rent and how much does your partner earn?

maninthestreet

How can you be unemployed and be a (full time?) student?

xh313nx

For rent, the rent is £475 a month. My partner earns roughly around about £1000 a month. We thinking about paying 6 months up front but that would be more than what we can afford, we considering taking out loan but dont want to debt.

xh313nx

Well not unemployed, just not having a job.

beecher2

I think it is maybe for the best if you have no other money coming in. You'd have to pay council tax, utility bills and food and would have very little left over for living. Why not look for a houseshare instead?

BitterAndTwisted

Most landlords, when doing affordability calculations, often want to see monthly take-home pay of 2 1/2 times rent. On this basis, taking only one income into consideration, it looks like you cannot afford it and I suspect this is why you have been refused.


If you can't get a guarantor and don't have adequate savings it appears that getting a bank-loan or an overdraft facility to cover the 6 months rent in advance may be your only option.

If you are unemployed have you looked into what your LA has on its website as your entitlement to LHA for your contribution?

Jowo_2

You have little contingency and the rent is too high for the household income. This sounds like a good decision on the part of the agency who has correctly identified that you are risky tenants.

Find somewhere cheaper where you are less likely to struggle with your outgoings. Your income does not support your lifestyle aspirations.

xh313nx

No I havent looked into the LA or LHA yet but that seems a good place to start. If getting the a loan it would be really quickly paid off. I know we can afford it has with my partners wages and me, I will be receiving £3,500 within the next three months which will give me plenty of time to find job aswell and with there only being two of us in a one bedroom flat, gas and electic bills would not cost has much as where we are living now as this is a three bedroom house and 4 of us living here. What about offering insurance to the estae agency has security that we will pay rent, I know we wont miss payment as we pay £600 rent atm.

DVardysShadow

Bumped ahead of duplicate thread.