Alternatives to guarantor?

outofmoney

In the last couple of years we have looked at some properties with various LA. But we keep getting the same problem.

We are in receipt of HB so they LA want a guarantor. Except we don't have one. Both our parents work but my Mum is Self Employed and not earning enough and OH parents are only PT and also OAPs.

I have only one sibling but they rent also.

We have some good friends but not many earn the amount required and I wouldn't like to ask them anyway.

The LA I spoke to today was really eager to find us somewhere until we hit this problem. They said they would be 'in touch' if anything came up. The last agents said they would speak to LL about arranging a viewing, they never got back to us. Other agents have done similar.

So what is the alternative?

GAH

If you cannot get a guarantor, then I would say the only other alternative is to hunt around and try and find A LL that won't require a guarantor.

Unfortunately, most LA's will put Working professionals ahead of you in the queue.

Have a search through your local paper or newsagents windows, some private landlords are a little more leiniant.

theartfullodger

Could you perhaps consider getting a job that pays more ?

rentergirl

I would agree that posting on 'the usual' sites and stating your circumstances (avoiding those now well disguised Nigerian scamsters) and see what happens. And go to your council, who sometimes have schemes where they act as guarantor to such claimant friendly landlords as exist, and maybe allow for large deposits to be paid in installments.

flora48

Our LA suggested taking a double deposit instead of having a guarantor.

outofmoney

Thanks.

I think we have tried most LA but will continue looking. We have been privately renting for the last 16 years so not a problem. Prefer Private anyway so always keeping an eye on the papers.

Double deposit would be helpful, though be a struggle to come up with. Will look into council schemes as not heard of this before. What are 'the usual' sites Rentergirl?

Theartfuldodger ... We are both carers to our disabled children so getting a higher paid job is not an option.

theartfullodger

Thanks: Lodger not dodger, I don't dodge..

outofmoney

Ooops sorry. DD is doing an essay based on Oliver and I think I have it on my brain, lol.

tbs624

outofmoney - see if your local Council runs an accreditation scheme for private sector LLs. It may be easier to deal direct with a LL rather than trying to go through an LA and if a LL takes the effort to get accredited then they are usually reasonable LLs. If you have evidence of keeping up with your rent payments over several previous years (whilst on a similar income) then you may be able to convince a LL who self manages to let to you.

A "double deposit" is unlikely to sway any LL/LA who wants the rent payments guaranteed for the full tenancy period ( and a deposit of more than two months rent equivalent is likely to be held to be a premium)

Some Councils can help with the tenancy deposit via a Bond Guarantee given to the LL - should the LL need to claim the Council would then pursue the T. The schemes are sometimes run jointly with local charities and you have to meet quite specific criteria to qualify.

I'm not aware of schemes which would be able to act as guarantors for your rent payments, such as those mentioned by rentergirl.

Sandhy

Like you I didn't know anyone who earns enough to be a guarantor.

I borrowed 6 months rent from my retired parents and I'm paying them back month by month.

Paying 6 months rent up front meant I bypassed the need for a guarantor.

outofmoney

6 months!!! Wow. That is a lot of money to find. My Mum has that sort of money but sadly she doesn't lend a penny. Her motto is only have if you can pay outright. Good in theory, doesn't always work in practice and sadly we don't all have a very good income like her with little to pay out!

I will check with the council and see if they have any schemes or similar that may help us.

We don't exactly have proof of rent always been paid, unless bank statements would be accepted. But our LL could verify that it has been.

Thanks again.