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Guarantor Aged 77 (Any Landlords Help?)
A_Couple_In_Love
Posts: 651 Forumite
Hi,
I believe that most landlords require a guarantor to those renting with DSS. I am finding it very difficult to find one, but a family member aged 77 would be happy to help out.
Now I heard that 75 is the maximum age, but how strict are they on this? My guarantor would be a house owner that is a retired lecturer in engineering.
What are our chances?
I believe that most landlords require a guarantor to those renting with DSS. I am finding it very difficult to find one, but a family member aged 77 would be happy to help out.
Now I heard that 75 is the maximum age, but how strict are they on this? My guarantor would be a house owner that is a retired lecturer in engineering.
What are our chances?
0
Comments
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Bumping this up as it's on the second page already with no replies
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Can anyone help?0 -
Speak to the landlord concerned?I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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All you can do is ask.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
In my experience, different letting agents/LLs have different requirements for guarantors. So you need to ask the specific LA/LL before viewing etc.
Two examples I've recently come across:
1 - the LA just wanted evidence that the guarantor was a property owner.
2 - the LA wanted employment references and bank statements from the guarantor, to show that their income was at least 200% of the rent.0 -
Thank for your replies.
That's good news to hear, I thought that it was a strict rule that you can not be over 75. I will be contacting some estate agents in the morning and enquiring about it.
If these is any landlords here that can share their experience, please do.0 -
Generally agents/referencing companies want guarantors to be UK-based, working, home-owning guarantors earning at least £35k (or a minimum of 60 times the rent).We may not have it all together, but together we have it all :beer:
B&SC Member No 324
Living with ME, fibromyalgia and (newly diagnosed but been there a long time) EDS Type 3 (Hypermobility). Woo hoo :rotfl:0 -
Would the age of the guarantor need to be disclosed? If they could provide evidence of house ownership and their income wouldn't that suffice?0
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All I can go on is what happened the last time DH and I needed a guarantor (because he was a student, my income was sufficient for the rent) - his parents were no good because they were resident outside the UK, even though they owned property within the UK and could have afforded to buy the flat we were renting several times over for cash without batting an eyelid; my aunt and uncle were no good because they were retired, even though they had paid off their mortgage and Uncle's private pension pays him more than the UK average wage; we ended up having to ask DH's cousin and her husband to stand guarantor (fortunately they were very lovely and agreed to do so!)We may not have it all together, but together we have it all :beer:
B&SC Member No 324
Living with ME, fibromyalgia and (newly diagnosed but been there a long time) EDS Type 3 (Hypermobility). Woo hoo :rotfl:0
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