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What details do I need to give to be a guarantor?t
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StuG197
Posts: 1 Newbie
My daughter needs a guarantor for her new rental agreement. I am happy to do this, but I am being asked for a lot of personal details. They want my home address, my bank details, my income, the company I work for and my payroll number. I have given my home address, my bank details and my income before, but giving my payroll number seems a bit too much. Do they need these extra details. I have a very good credit rating with Experian.
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Comments
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If you are willing to be a financial guarantor then be prepared to provide a lot of personal information. Without validation of this your offer is worthless. No one is going to risk thousands of pounds otherwise. Much easier to find another tenant that doesn't require one. .0
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I would check the wording of the contract for being a guarantor - is there a termination point - after 1 year? or the end of the fixed term? Not for evermore...
Only for your daughter's share not any other house sharers/joint tenants? Check for joint and several scenario.
Good luck.0 -
My daughter needs a guarantor for her new rental agreement. I am happy to do this, but I am being asked for a lot of personal details. They want my home address, my bank details, my income, the company I work for and my payroll number. I have given my home address, my bank details and my income before, but giving my payroll number seems a bit too much. Do they need these extra details. I have a very good credit rating with Experian.
Your credit rating is primarily about borrowing and debts/ liabilities. You are not applying for credit.
The landlord or their agent are assuring themselves that, should the tenant default, they can
a) locate the guarantor
b) levy on the guarantor's assets or income.
People move house, change jobs, switch or drain bank accounts ... but it is relatively uncommon for people to do all of these.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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