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Guarantor - Whose Credit Rating is Checked?
Mr.Croesus
Posts: 27 Forumite
I am looking at renting as a mature student. My parents can serve as a guarantor.
As a result of health problems, I had to enter a DRO 4 years ago.
I understand this could cause an issue if I were just renting without support.
However, if the rent is with a guarantor in place, is it only their credit rating which is checked?
As a result of health problems, I had to enter a DRO 4 years ago.
I understand this could cause an issue if I were just renting without support.
However, if the rent is with a guarantor in place, is it only their credit rating which is checked?
0
Comments
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The landlord will satisfy themselves that you are an appropriate tenant - and that will include running the usual financial references (such as they are) on you.
If they feel that they need additional reassurance that you won't leave them massively out of pocket, then they may require a guarantor - who would also be referenced. How they make that decision is entirely up to the individual landlord...
It is definitely preferable to have a tenant that won't run a debt up in the first place. If they do, then it's a lot easier to pursue the tenant for any debt. Any guarantor is a last resort once possession has been regained...1
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