Guarantor companies. Any good?

Abstaaarrrr

Me and my partner are looking to rent our first property. Problem is he is on a zero hour contract. Living in the south east house prices are through the roof so finding a guarantor we know is seeming impossible. I was just looking online to get more information about what criteria a guarantor need to meet, when I came across a couple of companies that act as guarantors for you.
I couldn't find much else about them unless I started filling out online forms. I was wondering if any one has used one or knows anything about them. I'm not even sure they can help us with the zero hour contract my partner has.
Many thanks

Pixie5740

Another poster recently tried to use one to act as guarantor for his son at university instead of just agreeing to be his son's guarantor himself. The letting agent/landlord said, "no." So I guess it depends on whether or not the landlord is willing to accept one of these companies as your guarantor.

eddddy

I don't know much about rent guarantee services, but one I've come across seems to work like this...

1. You can apply to a rent guarantee service, if you can't find a guarantor

2. The rent guarantee service requires you to find a 'co-signer' - who must have an income, etc.

3. If you don't pay the rent, the rent guarantee service goes to the 'co-signer' for the money.

So really, your 'co-signer' is just your guarantor - so effectively, you still need to find a suitable guarantor.

Although the rent guarantee service seem to suggest that their criteria for being a 'co-signer' is less tough than an LL's criteria for being a guarantor.

Abstaaarrrr

Thanks for your replies it was just another avenue to look down. I will just have to see what the landlords response is.

D_M_E

You also need to be aware that any company offering such a service is not likely to be cheap - they will charge you for it and their charge could be either a one-off fee or a monthly payment.

More expense on top of the rent.