Getting a guarantor for renting

kaggy30

Hi everyone,

I am a newly single Mum looking to rent a flat/house. I have an extremely good credit score, including the money to meet a deposit. However, because I am currently on HB (I have worked for years) but I have taken time out to bring up my son, I do not have a guarantor. I have found a house to rent via an estate agents and they state that HB will be considered with a guarantor.

The problem with this is, I do not know of one?? I have never been behind with rent and I also own a 3rd (20k) tied up in a family property. My Mum owns the remaining but is not working, so I'm pretty sure they won't accept her as one. I can also provide good references.

Can anyone advise of how I could overcome this?

Many thanks

A_Couple_In_Love

Hi,

I am currently in a similar situation finding it difficult to find a guarantor.

Do you have any extra money up front? You can either pay a few months rent upfront, or possibly, put down a much bigger deposit.

I also read a couple of days ago, that a landlord may consider it if you pay some sort of insurance for him/her incase a tenant does not pay the rent, I think that is around £100 per year, so if you pay that the landlord will feel more secure about you being a tenant.

kaggy30

Hi,

It's such a pain isn't it! For us genuine tenants. I could possibly put down a bit more but I would need the rest to furnish the property. The insurance thing sounds like a good plan. I will ask them tomorrow and see what they say.

Kay x

Viberduo

Same situation here, the weird thing I notice is that places I have checked over the years if you are on benefits want a guarantor or 6 months rent in advance(how on earth can someone on benefits afford that) ask the same landlords/agencies if they take on students and most would not ask for either!(unless you are in a large city or premium accomodation)

missbiggles1

kaggy30 wrote: »

Hi everyone,

I am a newly single Mum looking to rent a flat/house. I have an extremely good credit score, including the money to meet a deposit. However, because I am currently on HB (I have worked for years) but I have taken time out to bring up my son, I do not have a guarantor. I have found a house to rent via an estate agents and they state that HB will be considered with a guarantor.

The problem with this is, I do not know of one?? I have never been behind with rent and I also own a 3rd (20k) tied up in a family property. My Mum owns the remaining but is not working, so I'm pretty sure they won't accept her as one. I can also provide good references.

Can anyone advise of how I could overcome this?

Many thanks

Have you declared the fact that you have £20k equity in another property when you made your claim for HB (and other benefits?). I would've thought this would make you ineligible.

missbiggles1

Viberduo wrote: »

Same situation here, the weird thing I notice is that places I have checked over the years if you are on benefits want a guarantor or 6 months rent in advance(how on earth can someone on benefits afford that) ask the same landlords/agencies if they take on students and most would not ask for either!(unless you are in a large city or premium accomodation)

Most students have to give a guarantor when renting a property - it's usually a parent.

Viberduo

missbiggles1 wrote: »

Most students have to give a guarantor when renting a property - it's usually a parent.

Depends on the area like I say, I have lived in 8 different towns/cities since I left home and only one that wanted guarantor was the premium accomodation such as the private halls, regular landlords didnt care as they knew it wasnt the best accomodation.

Similar thing for summer retainers, only one town I lived charged them but wherever I have lived it has been the best accomodation goes to people going into 2nd year as they get it just after Christmas so only other stuff left is ones that LL's cant rent out easily so there is less requirements.